Some memecoin burning transactions seen on Binance founder Changpeng Zhao’s (CZ) publicly accessible donation tackle turned out to not have been carried out by CZ himself, as initially thought. On-chain information reveals that the developer of the token referred to as “Niu Lai” used privileged authority within the good contract to forcibly switch the tokens from CZ’s tackle.
In line with Arkham information, three consecutive token burns have been noticed at CZ’s publicly disclosed donation tackle round 4:15 PM at the moment. These transactions concerned sending 4,444 “Niu Lai” memecoins, 4,444 MarsCoins, and 4,444 “Binance Life” tokens to the burn tackle.
Nevertheless, the investigation revealed that the burning of 4,444 “Niu Lai” tokens, with the contract tackle beginning with 0xD043B6, was not initiated by CZ. The transaction was carried out by the tackle 0xcf86..383, which is said to be the token’s developer.
In line with on-chain information, the developer outlined a privileged authorization through a wise contract to mint 1 billion tokens for their very own tackle. They then despatched roughly 800 million tokens to CZ’s tackle. Subsequently, utilizing the transferFrom perform within the contract, they moved 4,444 tokens from CZ’s tackle to the burning tackle with none energetic CZ transaction.
Because of this methodology, transactions could seem as “From: Changpeng Zhao” on on-chain monitoring platforms. Nevertheless, it’s said that the CZ tackle doesn’t grant any authorization to the token or its developer. Subsequently, the transaction document alone doesn’t imply that CZ helps the token, participates within the mission, or knowingly burns it.
Related strategies have reportedly been used earlier than. In 2025, a token mission referred to as CAAB allegedly despatched roughly 80% of the overall provide on to CZ’s donation tackle, advertising and marketing it as “CZ holding the token,” and artificially inflated the token’s market worth for a brief interval.
It was additionally claimed that one other token, referred to as SHORT, despatched 99.9% of its provide to CZ’s tackle, that the worth briefly elevated after CZ cleaned and burned these tokens, and that the mission group bought throughout this era of exercise.
*This isn’t funding recommendation.
