Former Binance CEO Changpeng Zhao detailed an incident on the BNB Chain involving a video tutorial about launching meme tokens and the emergence of a fake token, TST.
Changpeng Zhao Warns the Community
Changpeng Zhao, also known in the crypto community as CZ, issued a warning to the users of the BNB Chain platform following some "confusion." He revealed that the BNB Chain team launched an educational video on how to issue meme tokens on the four.meme platform, using the TST token as a sample.
Nonexistent Token Attracts Attention
Despite TST being just a hypothetical token used solely for educational purposes, a group of Chinese key opinion leaders began promoting and trading it. The market capitalization of the meme token quickly rose to nearly half a million USD.
Withdrawal and Warnings from BNB Chain
As soon as the BNB Chain team learned about this incident, they removed the video. However, users continue to share it online. The private key of the creator address shown in the video, containing 0.13% of the total TST token supply, was also deleted. Zhao emphasized that neither the BNB team nor anyone at Binance holds the token: "This is NOT an official token. It is a test token used for the video tutorial."
Changpeng Zhao once again reminded users that TST is an educational example, urging them not to use it in real-world transactions.
