An astute digital currency investor transformed a $3,000 stake into an approximate $2 million windfall within just a few hours. This stroke of fortune followed after Changpeng “CZ” Zhao, a co-architect of Binance, publicized a BNB Chain-based meme coin on the social media platform X.
Data from the blockchain indicates that this investor, recognizable by the wallet address “0x872,” was among the primary acquirers of the freshly minted token dubbed “4” ($4). According to insights from the blockchain analytics resource Lookonchain, the trader’s initial expenditure of $3,000 in BNB (BNB) soared to a value of $2 million, reflecting an impressive 650x return on the original investment.
Despite this immense profit, the trader chose to liquidate only a fraction of their assets, retaining tokens valued at approximately $1.88 million.
The creation of the “4” token emerged in the aftermath of a phishing scam targeting the BNB Chain. Reports suggest the perpetrator accrued a modest $4,000 profit before the cryptocurrency community repurposed the incident into a humorous meme.
The trader seemingly aimed to leverage the widespread excitement surrounding this particular meme coin, dedicating more than 98% of their cryptocurrency holdings to the “4” token.
According to CoinStats data, the trader’s portfolio recorded over $1.8 million in unrealized gains in just one week.
Other leading digital currency investors, those regarded as “smart money” by Nansen’s blockchain intelligence platform, have also procured shares of this meme coin.
Data provided by Nansen shows the “4” meme coin ranked as the third most purchased token by experienced investors over the past 24 hours on the BNB Chain, with acquisitions nearing $100,000 in value.
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Despite their frequently unsubstantial innate value, meme coins have been known to transform digital currency traders into millionaires.
In March, another investor purportedly converted a $2,000 stake into approximately $43 million through acquisitions of the frog-themed Pepe (PEPE) meme coin. However, the trader chose to hold through Pepe’s 74% fall from its peak, which diminished unrealized profits from $43 million to $10 million by the point of sale.
On-chain data shows one distinct investor turned $27 into $52 million back in May 2024.
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CZ’s Social Post Launches “4” Meme Coin Surge
The appeal of the “4” token escalated sharply following Zhao’s reposting of the BNB Chain’s notification regarding the aforementioned phishing event, shared to his 8.9 million followers on X.
Zhao wrote on X, Wednesday, noting, “Interestingly, after the hacker dumped ALL his tokens for a $4k gain, the community took over and bought the meme coin higher, as a mock to the hacker.” (post).
According to a post on X, published on Wednesday by the blockchain data visualization firm Bubblemaps, an additional, previously anonymous wallet purchased the meme coin minutes prior to Zhao’s post on X and witnessed an increase of more than $1.5 million in just hours following this trade.
As previously reported by Cointelegraph, Zhao’s post followed closely on the heels of a temporary compromise of BNB Chain’s X account, itself.
During this intrusion, the attacker exploited the situation to share phishing links, thereby advertising the meme coin to the page’s substantial audience of over four million followers.
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