BNB News Today: Community Turns Phishing Fiasco into Meme Coin Frenzy: $3K to $2M in Hours

Crypto Trader Turns $3k Into $2M, Nets 650x On CZ …^[4] A social media post by Changpeng Zhao (CZ), co-founder of Binance, catalyzed a meteoric rise in the price of a BNB Chain-based meme coin, enabling a trader to turn a $3,000 investment into a $2 million profit within hours. The surge followed a phishing attack on BNB Chain's X account, which led to the creation of the "4" meme coin. The incident, initially a $4,000 theft, became a viral meme as the crypto community rallied to mock the hacker by driving up the token's price. CZ's tweet, which highlighted the community's ironic response, amplified the frenzy, triggering a parabolic price surge.

Crypto Trader Turns $3k Into $2M, Nets 650x On CZ …^[4] The trader, identified by wallet address "0x872," purchased 16.86 million $4 tokens for $3,060 in BNB. After selling 5.12 million tokens for $118,700, the remaining 11.75 million tokens are now valued at $1.88 million, representing a 652x return. On-chain analytics firm Lookonchain noted that the trader's portfolio remains 98% exposed to $4. Meanwhile, another wallet purchased the token minutes before CZ's post and secured a $1.5 million gain, according to BubblemapsTrader Makes $2M From $3K After CZ Mentions Memecoin “4”^[5].

Trader Makes $2M From $3K After CZ Mentions Memecoin “4”^[5] The meme coin's trading volume spiked to $79 million in 24 hours, with "smart money" traders on Nansen's platform purchasing nearly $100,000 worth of tokens. The token became the third-most-bought asset on BNB Chain during the period, underscoring its appeal to experienced investors. CZ's endorsement, shared with his 8.9 million X followers, framed the event as a "funniest comeback by the community," further stoking retail interestCrypto Trader Turns $3k Into $2M, Nets 650x On CZ …^[4].

The 4 meme coin's origins trace back to the BNB Chain phishing incident, where a hacker exploited a compromised account to promote the token. The attacker's $4,000 profit was swiftly erased as the community flooded the market, turning the exploit into a meme-driven investment opportunity. This pattern mirrors past meme coin success stories, such as the Pepe (PEPE) token, which saw a trader convert $2,000 into $43 million before a 74% price decline.

Analysts caution that meme coins, while capable of generating extraordinary returns, are inherently volatile and susceptible to manipulation. The $4 token's price reached an all-time high of $0.2 before retreating, trading at $0.1702 as of October 5. Regulators have repeatedly warned about the risks of thin-liquidity tokens, advising investors to use strict risk management strategies such as hard stops and slippage controls.

Crypto Trader Turns $3k Into $2M, Nets 650x On CZ …^[4] The event highlights the growing influence of social media and influencer-driven momentum in crypto markets. CZ's post, combined with the community's collective action, created a self-fulfilling prophecy of demand. However, the rapid gains also raise questions about sustainability, as meme coins often lack intrinsic utility and rely on speculative fervor.

While the $4 token's surge has generated significant wealth for early adopters, it underscores the broader dynamics of meme-based investing. Traders who recognize the power of narratives-whether driven by humor, community, or celebrity endorsements-can capitalize on short-term opportunities. Yet, the same factors that create millionaires can just as quickly erase them, as seen in the volatile history of similar tokens.