Binance Founder Receives 90 Million Fake Grok Tokens

A wallet linked to Binance founder Changpeng Zhao received 90 million counterfeit Grok tokens, according to analysts from PeckShield.

#PeckShieldAlert #CZ-labeled address has received 90M $GroK pic.twitter.com/PvNhPK5c5G

— PeckShieldAlert (@PeckShieldAlert) April 21, 2025

The coin is not associated with the AI-based chatbot by Elon Musk’s company xAI.

PeckShield noted that the tokens are a “likely scam,” as their creator used a multi-send tool to distribute Grok to various addresses.

According to Bubblemaps, the fake coins linked to the chatbot first appeared in 2023.

Following this post from @ZachXBT, 0xbb0 sold $400k worth of $GROK

This wallet was holding 0.5% of the supply, initiating a massive price drop

More details below ? https://t.co/46WPNWNAy2 pic.twitter.com/XYq0mIUbDe

— Bubblemaps (@bubblemaps) November 13, 2023

At that time, fraudsters released an ERC-20 token, which lost more than 90% of its value after the creator sold 0.5% of the total issuance.

On April 14, cybersecurity expert Denis Thomas uncovered a scheme where scammers spread information about a fake Elon Musk stream offering a $20,000 cryptocurrency giveaway.

A new crypto scam is making the rounds https://t.co/IKqKU0uwVt. They’re using fake AI Elon Musk stream to push a bogus giveaway. If you’ve lost crypto to them, get in touch for recovery support. #Musknext pic.twitter.com/MaUVyKvcgS

— Denis Thomas (@cryptorecoveryD) April 14, 2025

The scam detector Coinspeedrun recorded the launch of meme tokens associated with the businessman’s name on the BNB Chain network.

? Scam Caught by @CoinSpeedrun
? ELON — ElonMusk Meme | $ELON
? Contract: 0x5d52893f3b9a4f7fde0c44f4ad1ba531a613964a
⛓️ Chain: bsc
? https://t.co/V0jMMdfyA4

— Coinspeedrun Police (@OnchainPolice) April 21, 2025

Back in March, Grok promoted a meme coin in its own honor. ForkLog reached out to the chatbot regarding its involvement in the creation of the token and received a negative response.