Binance CZ Warns of Rising Meme Coin Scams on Social Media

Binance CEO Changpeng Zhao has sounded the alarm about the surge in scams targeting meme coins on social media platforms. He emphasizes that users should be wary of unknown contract links and refrain from trusting any official Binance account endorsing specific meme tokens. This warning comes as a response to a concerning trend where criminals are leveraging weak security measures on social media accounts for fraudulent activities such as faking contract addresses.