Changpeng “CZ” Zhao, the head of Binance, has recently exposed a deliberate misinformation campaign targeting the exchange. A fraudulent account has been discovered using AI-generated images to masquerade as a Binance advocate while disseminating negative information about BNB.

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Unmasking the Faux Supporter

The situation escalated when CZ spotted a tweet from an account named “Wei 威 BNB”, claiming to close their Binance account due to supposed market manipulation. The account boasted 863,000 followers and even utilized images from a BNB Chain event to create an air of legitimacy.

However, Zhao expressed doubts about the account’s authenticity after careful examination. For instance, the account, which had blocked him, showed images claiming to include Zhao with the user, all of which seemed doctored.

One particular image depicted Zhao in a shirt of a color he confirmed he doesn’t own, while another combined low-quality images of him with an unmistakable picture of Binance executive Yi He. According to CZ, the original photograph featured Leonard, the CEO of Aster.

The history of the account also hinted at potential compromise, as it initially belonged to a woman who exclusively posted female content until a sudden shift to cryptocurrency topics in 2015.

“Either a hacked takeover or bought,” CZ remarked.

He criticized the lazy tactics behind the campaign, suggesting it was likely instigated by a rival who is more concerned with Binance than their own operations.

Community Support and Continual Scrutiny

The revelation garnered backing from the crypto community, with Teki, the CEO of World of Dypians, expressing gratitude to CZ for his clarification, admitting the initial claims had seemed credible at first.

Commentator Vegas provided deeper insights, categorizing attackers as either opportunists seeking engagement, frustrated traders, or organized campaigns intended to spread FUD (fear, uncertainty, and doubt). They claimed to have been incentivized to promote adverse sentiments towards Binance, indicating possible collusion by larger market players or competitors.

This latest incident comes as scrutiny of Binance and CZ remains intense. Earlier in the year, Zhao faced backlash for promoting a buy-and-hold strategy, which he later clarified was personal advice rather than a universal recommendation for all tokens. On January 30, Binance made headlines by converting its $1 billion SAFU insurance fund from stablecoins to Bitcoin, a move some perceived as a bullish signal, while others questioned the exchange’s financial maneuvers.

Despite existing challenges, Binance continues to stand tall in the market, with data from CryptoQuant revealing that the exchange grabs 41% of the spot trading volume and 42% of Bitcoin perpetual futures volume across premier platforms for 2025.