Binance Coin (BNB) has fallen sharply this week, sliding 5% in the past 24 hours and over 12% in the last seven days, as new scam alerts and a high-profile memecoin rug pull shake confidence in the BNB Chain ecosystem. The token currently trades around $1,060, marking its lowest level in nearly a month.
The downturn comes as Binance co-founders Changpeng “CZ” Zhao and Yi He warn investors about a wave of phishing scams and fake memecoin airdrops spreading through social media.
In one of the most damaging incidents, the official X (formerly Twitter) account of BNB Chain, followed by nearly four million users, was hijacked to promote a fraudulent token campaign linked to a fake airdrop.
CZ and Yi He Sound the Alarm
CZ took to X to issue a direct warning, “Official accounts do not endorse any particular memecoin.” He cautioned users against interacting with suspicious contract addresses or promotional posts, noting that scammers increasingly exploit verified profiles
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