A fortunate cryptocurrency trader transformed a $3,000 investment into approximately $2 million shortly after Binance co-founder Changpeng “CZ” Zhao made a post about a BNB Chain memecoin on X.

Blockchain data indicates that the trader, identified by wallet address “0x872”, was among the first to buy the newly launched “4” ($4) token, according to Lookonchain, a blockchain analytics platform. The trader’s initial investment of $3,000 in BNB (Binance Coin) expanded into $2 million, signifying roughly a 650-fold return on their investment.

Despite this impressive gain, the trader opted to liquidate only a small fraction of their assets and maintains a holding of $1.88 million in the tokens.

The “4” token emerged following a phishing incident on the BNB Chain, where the cybercriminal allegedly profited only $4,000 before the community turned the event into a meme.

The trader seems to have aimed to leverage the social media buzz surrounding this memecoin, with over 98% of their assets concentrated in it. The trader’s portfolio reportedly yielded over $1.8 million in unrealized profit within the last week, deduced from CoinStats data.

The most successful cryptocurrency traders, known as “smart money” traders, have also purchased this memecoin recently.

Over the last 24 hours, the “4” memecoin became the third most-acquired token by smart money traders on the BNB Chain, accumulating nearly $100,000 worth of tokens, according to data from Nansen.

Interestingly, interest in the “4” token spiked after Zhao shared the BNB Chain’s statement regarding the phishing incident to his 8.9 million followers on X. Zhao remarked, “Interestingly, after the hacker dumped ALL his tokens for a $4k gain, the community took over and bought the meme coin higher, as a mock to the hacker,” in a post on a Wednesday.

Another wallet made a purchase of the memecoin just minutes prior to Zhao’s post, reportedly gaining over $1.5 million merely hours after the trade.

Zhao’s announcement followed a security breach where the BNB Chain X account was temporarily hacked, which led to the attacker sharing phishing links and promoting the memecoin to over four million followers.