Binance founder Changpeng “CZ” Zhao has confirmed that the official BNB Chain X account has been restored after a brief hijack that directed users to phishing websites.
The incident, which occurred earlier today, led to losses of around $13,000 in user funds, though CZ assured that victims will be fully reimbursed.
Binance Restores Account, Confirms Limited Losses
In multiple X posts on Wednesday, CZ explained that after gaining control of the BNB Chain account, the attacker had posted links to fake “Wallet Connect” prompts designed to trick users into signing harmful approvals.
The former Binance head also urged users to avoid clicking any of the links from the compromised social media handle, warning:
“The @BNBCHAIN X account may have been compromised. Please do not click on any links recently posted from this account.”
He added that the exchange had already contacted X to suspend the account and launched takedown requests for the phishing domains.
“Always check the domains very carefully, even from official X handles. Stay SAFU!” CZ cautioned.
In his latest update, the crypto entrepreneur revealed that the hacker only netted $13,000, a small sum compared to past phishing campaigns that drained millions. “He could have made more by building,” he noted, adding that Binance’s security teams are still tracking the culprit, who may be linked to a verified identity through KYC.
The quick recovery and limited damage stand in contrast to earlier cases, including one reported previously by security firms PeckShield and Scam Sniffer, where a user unintentionally approved a bad transfer, resulting in a phishing attack that cost them over $3 million.
Because they mimic genuine Uniswap swaps or wallet connection prompts, these scams are extremely clever, putting even people who know a lot about crypto at risk of falling for social engineering tricks.
Ironically, the attack happened right when BNB Chain was getting more network traffic than its competitors. On September 28, data showed that daily fees on the blockchain shot up to $1.4 million after the launch of the decentralized exchange Aster. For three days in a row, they were higher than those on Solana. The platform also handled a record 16.5 million transactions a week earlier, demonstrating its growing popularity.
Price Reaction
Despite the breach, the price of BNB has stayed pretty stable. At the time of writing, the token was worth $1,011.84, about 1.5% less than the day before. It also fell slightly by 0.5% in the last seven days, but it is still up 5.4% over the last two weeks, which could mean that investors were not overly worried about the phishing scare.
In the past 30 days, BNB has jumped 18.3%, and over the last year, it has gone up 76.5%, which is better than most large-cap tokens during a time when there has been mixed market sentiment.
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