CZ Abandons Public Wallet as Memecoins Swamp His Address

CZ has stopped using a public wallet after the address was flooded with unwanted memecoins. The Binance founder was using the wallet while testing Trust Wallet, but found that virtually every on-chain action immediately triggers speculation.

Memecoins cause chaos

According to CZ, there are so many memecoins in the wallet that he struggles to find his BNB. He tried to burn some of the tokens, but that backfired.

The transactions are being tracked and interpreted at length by others. What is more, users then send even more memecoins to the same address.

CZ says he can therefore never fully clean the address. The transparency of the blockchain makes every transaction visible, meaning that even removing worthless tokens can be read as a signal about a project.

BNB goes to Giggle Academy

CZ has therefore opted for a drastic solution. The remaining BNB and his 币安人生 tokens, which he says were bought with BNB, are being sent to Giggle Academy.

After that, he will stop using the wallet entirely. In practice, the address becomes a burn address: tokens can still be sent there, but CZ has no intention of transacting with it again.

He is even considering asking Trust Wallet for a feature that would let users hide unwanted coins, but expects that 99.99% of users would not need such an option.

The story highlights a striking problem with public wallets. As soon as a well-known person is linked to a blockchain address, any small transaction can become grounds for speculation, even when there is no deeper meaning behind it at all.