CZ Announces Dismissal of YZi Labs Employees Endorsing Coins Following Pump.fun Hack Incident

CZ cautions users about hacked accounts endorsing tokens and declares that YZi Labs employees promoting coins will be 'fired immediately.'

Changpeng Zhao, in a recent post, shared a screenshot of an account owned by a trader who was a Binance advocate. He suspected the account had been compromised due to its sudden promotion of meme coins to followers.

"This account likely got just hacked. It abruptly started to connect with individuals to promote new meme coins. Plus, the profile was altered," stated the former Binance CEO in his recent post.

The account's handle is artists\_voyager and the description mentions that they are a social media manager and content creator for web3 businesses. They also claimed to handle marketing for Binance Labs.

CZ clarified that the account holder does not work for Binance or YZi Labs. Nevertheless, numerous individuals from the Binance community follow the account because the owner is a 'long-time supporter of BNB (BNB).'

Furthermore, CZ issued a warning to YZi Labs personnel, stating they are not permitted to promote any form of cryptocurrency coins, whether privately or publicly. If they are discovered promoting coins, they will be 'fired immediately.'

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CZ's caution comes just a day after Solana (SOL) meme launchpad Pump.fun's official X account was hacked and used to endorse fraudulent meme coins. The hackers utilized the account to share posts urging followers to buy a counterfeit Pump.fun governance token. As of now, Pump.fun has fully regained control of its X account.

Earlier this month, the official Dior Instagram account underwent a similar hack when it published a post promoting a Solana-based meme coin called the Dior Official Coin. The post vanished soon after the account was recovered, but the fraudulent token had already amassed a trading volume of over $1 million.

In a different post, CZ replied to a user expressing concern about the number of accounts that have been hacked in recent days. He stated that X accounts are not very secure, but humorously suggested that they might enhance their account security over time once they 'launch a wallet.'

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