Binance founder Changpeng Zhao (CZ) has denied allegations linking him to a supposed $35 million transfer of Aster (ASTER) tokens, dismissing the claim as false and based on a manipulated on-chain screenshot. Blockchain analysts have since confirmed that the images circulating online were doctored to mimic legitimate transactions.
CZ Calls Out Fabricated Screenshot Behind Viral Claim
The controversy began when a social media post alleged that CZ had moved roughly 35 million ASTER tokens, sparking speculation of insider selling. However, in a statement shared on X (formerly Twitter), Zhao rejected the claim outright, clarifying that no such transaction had occurred.
According to CZ, the misinformation originated from a crypto influencer (KOL) who shared a digitally altered screenshot showing what appeared to be recent large-scale sales of ASTER tokens.
“People will always make things up for attention. Please verify before believing or sharing,” Zhao wrote, urging users to check on-chain data directly rather than relying on screenshots.
On-Chain Analysts Confirm the Screenshot Was Manipulated
Blockchain investigator @ai_9684xtpa independently verified that the viral screenshot had been manipulated. The analyst explained that the image was created using past-week transaction data between Binance hot wallets, edited to look like a fresh sell-off event.
Further analysis confirmed that the wallet shown 0x889…2D4E3 is a publicly verified Binance-controlled address, often used for internal exchange transfers rather than individual holdings.
No recent transaction matching the alleged $35 million sale appeared on-chain, confirming that the screenshots were fabricated for engagement.
Not the First Time CZ Has Been Targeted by Token Rumors
This isn’t the first time Changpeng Zhao has been accused of suspicious trading activity. Similar speculation surrounded his name earlier this year following events involving the TST memecoin.
The TST token, initially created as a demonstration project for launching new tokens, saw its price collapse by over 40% on May 30, when an anonymous whale sold between $6–7 million worth of tokens roughly 10% of the coin’s $55 million market cap.
Despite no evidence linking Zhao to that sale, social media chatter at the time falsely attributed the move to the Binance founder, highlighting the ongoing challenge of misinformation in crypto communities.
Analysts Warn of Growing Fake Data Trend
Blockchain experts warn that fabricated on-chain screenshots are becoming an increasingly common tactic to manipulate market sentiment. By exploiting public trust in blockchain transparency, bad actors can spread fear, uncertainty, and doubt (FUD) especially around high-profile figures like Zhao.
Analysts recommend users cross-verify all claims using blockchain explorers and reputable analytics platforms like Etherscan, Arkham, or Nansen, instead of relying on viral social media posts.
“Anyone can take a legitimate transaction, alter the timestamp or recipient address, and make it look real,” @ai_9684xtpa noted. “That’s exactly what happened here it was pure fabrication.”
Aster Price Unfazed as Market Refocuses
Despite the social media buzz, Aster’s price remained relatively stable after the clarification. The token was trading near $0.99 at press time, holding just below the $1 mark after a recent dip tied to broader market volatility and the project’s new 50% token burn initiative.
The Aster DEX team has since confirmed no large-scale outflows from Binance or other major wallets, reinforcing that no sell-off occurred.
With the misinformation debunked, market attention has shifted back to the project’s buyback, burn, and airdrop mechanisms, as traders await signs of renewed confidence and accumulation.
Summary:
- Changpeng Zhao denies any involvement in a $35M Aster token transfer.
- Blockchain analysts confirm the circulating screenshot was manipulated using old Binance wallet transactions.
- Similar accusations have targeted CZ before, including during the TST memecoin crash, though no evidence has ever linked him to the trades.
- Experts warn of rising cases of fabricated on-chain data being used to spread FUD.
- Aster price remains steady near $0.99, with markets largely dismissing the rumor.
