Changpeng “CZ” Zhao, the founder of Binance, has spoken out to reveal and stop a coordinated misinformation campaign against him and the exchange. He says he found a long-running fake account that used images created by artificial intelligence to look like a loyal supporter, but then posted negative feedback about the company.
First, let’s explain some terms. A deepfake is a realistic-looking image, video, or sound that is made to fool people, usually using computer technology. In this story, people used AI to make pictures that looked like they showed Changpeng Zhao with the account owner, even though they were not real photos. Zhao is commonly known as CZ, and he is the person who started Binance, a big online place where people can buy and sell cryptocurrencies.
The fake account had a lot of followers. It was named “Wei 威 BNB” and had about 863,000 followers. It also used pictures taken at a BNB Chain event to look more official. The account claimed to be criticizing or closing a Binance account due to some manipulation. This made some people worry and believe the account might be real at first glance.
But CZ did not stop with a quick accusation. He looked more closely and found several signs that the account was not genuine. For one thing, the account had blocked him, which is common on social media, but it posted several photos that looked like Zhao was posing with the account owner. Some of these pictures appeared to be altered or edited.
In one case, a picture showed Zhao wearing a colored shirt that he said he never buys or wears. In another case, the account’s post mixed several low-resolution images of Zhao with another Binance leader, Yi He, and a much clearer photo of the account holder. Yi He is a co-founder of Binance and has led many marketing efforts for the company. CZ noted that the original photo may have shown a different person altogether (the post mentioned a person who runs a separate company named Aster).
Another clue came from the account’s history. CZ said the history suggested the account had changed hands or was hacked years ago. The account’s old posts were mostly about a woman, with many female pictures until July 2015. Then, suddenly, the account’s content shifted to crypto topics. CZ wrote that this could mean, in his words, “Either a hacked takeover or bought.”
These discoveries led CZ to criticize the campaign as lazy and imply that it was probably organized by someone who sees Binance as a competition rather than focusing on their own business. The accusation is not just about a single post. It is about a pattern of misleading content that can confuse people who are new to crypto or who are trying to decide where to trade or invest.
People in the crypto community reacted in different ways. Some supported CZ and thanked him for clarifying the situation. World of Dypians CEO Teki wrote that CZ’s explanation helped, though he also admitted that the original post had looked believable at first. Others offered broader analysis. A commentator named Vegas talked about three kinds of attackers: opportunists who want to gain attention by spreading information, frustrated traders who want to lash out, and organized campaigns that spread fear, uncertainty, and doubt (often called FUD). Vegas also claimed that some people offered payment to spread negative feelings about Binance, suggesting possible involvement from big market players or direct competitors.
This latest event comes during a time when CZ and Binance are under a lot of attention. On January 28, CZ faced criticism after he commented on market behavior while explaining his own investment views. He clarified that his buy-and-hold strategy was his personal opinion and not a universal prescription for every token. Buy-and-hold is a simple idea for long-term investing: you buy a token and keep it instead of selling quickly when prices move up or down.
Shortly after, on January 30, Binance announced a move about its SAFU fund. SAFU stands for Secure Asset Fund for Users. It is an insurance fund that some exchanges maintain to protect users if there is a big problem or loss in the system. Binance said it would convert $1 billion of its SAFU insurance fund from stablecoins (a type of cryptocurrency designed to keep a stable value) back into Bitcoin. Some observers saw this as a sign of confidence or a signal that Binance was being cautious about its financial strategy. But others pointed out that such moves could keep the focus on how Binance manages its money, which is always a topic of public interest in the crypto world.
Despite these criticisms, Binance remains a major player in the crypto market. Data shared by CryptoQuant at the start of the year showed that Binance had a large share of trading activity. Specifically, Binance accounted for about 41% of spot trading volume across top platforms and about 42% of Bitcoin perpetual futures volume in 2025. Spot trading is the regular buying and selling of cryptocurrencies, while perpetual futures are a type of contract that lets people bet on price movements without an actual expiration date. These numbers show that Binance was still very influential in how people trade crypto at that time.
The emergence of this AI-driven fake account news story shows how misinformation can spread in online spaces. The use of deepfake techniques makes it harder for people to tell what is real or fake. That’s why CZ’s careful checking and public explanation were important. He did not simply deny the claims; he showed the reasons why the posts looked suspicious and explained how the evidence did not add up.
For readers who are new to the topic, this event highlights a few key ideas. First, people can use technology to create fake but convincing content. This is common in today’s world and not limited to crypto. Second, popular figures and big companies can become the target of fake posts meant to spread fear or doubt about a company’s integrity or future. Third, members of a community, like crypto traders and fans, can help by speaking up when something seems off and by asking questions instead of taking everything at face value. Finally, it is important to look at the broader context and check reliable sources before making judgments about a company’s actions or the market’s direction.
Where do we go from here? The story reminds us that information online often needs careful checking. It also shows that big players like Changpeng Zhao are ready to respond quickly when something seems wrong. For people who follow crypto markets, it is a reminder to keep a calm approach, verify facts, and understand the tools used to create content, such as AI-driven images. It is also helpful to understand what a platform like Binance is trying to accomplish and how it manages risk and public perception while continuing to serve a large community of users around the world.
In this article, some terms may be new. Here are quick explanations to help you follow along:
- Changpeng Zhao (CZ) — The founder and CEO of Binance. He is a well-known figure in the crypto world. More about him is on Wikipedia.
- Binance — A large online market where people buy and sell cryptocurrencies. More about Binance is on Wikipedia.
- Deepfake — The use of technology to create images or sounds that seem real but are fake. See Wikipedia.
- Yi He — A co-founder of Binance who has held leadership roles in the company. See Wikipedia.
- Binance Coin (BNB) — The cryptocurrency issued by Binance. See Wikipedia.
Overall, this episode shows how information can be shaped by clever content and why it is important to check facts. The crypto community often pays close attention to such incidents, and experts continue to discuss how to spot fake information and what to do when it appears. The goal is to protect users and keep markets fair and transparent.