Early Investor Nets $2 Million Profit After CZ’s X Post Sends BNB Memecoin “4” Soaring

A crypto trader made a huge profit after Binance co-founder Changpeng “CZ” Zhao mentioned a new BNB Chain memecoin called “4” on X. 

According to Lookonchain data, the trader turned a $3,000 investment into about $2 million within hours. The wallet, known as “0x872,” was among the first to buy the token before its price exploded.

The token was created in response to a BNB Chain phishing attack, where the hacker earned only $ 4,000 before the community turned it into a meme. Despite the huge profits, the trader sold only a small portion and still owns about $1.8 million of the “4” tokens.

The trader appears to be capitalizing on the hype surrounding the memecoin, with over 98% of their cryptocurrency portfolio invested in “4”.According to CoinStats, this Strategy generated over $1.8 million in unrealized profit over the past week.

CZ’s Post Sends “4” Memecoin Soaring

The “4” memecoin surged after Changpeng Zhao shared BNB Chain’s post about the phishing incident with his 8.9 million followers.

 In his post, he noted that after the hacker sold all his tokens for a $4,000 profit, the community began purchasing the memecoin as a joke to mock him.

Zhao’s post followed a brief hack of  BNB Chain’s official X account, where the attacker posted phishing links and promoted the memecoin to over four million followers.

Data from Bubblemaps shows that another unknown trader bought the memecoin just minutes after Zhao’s post on X, and within hours, his investment had risen by over $1.5 million.

“4” Memecoin Attracts Smart Money Investors

Top crypto traders, known as smart money on Nansen’s blockchain platform, have also purchased the “4” memecoin. Data shows that it was the third most bought token on the BNB Chain in the past 24 hours, with approximately $100,000 worth traded.

Although memecoins have no real use, they have made some traders millionaires.

One trader reportedly turned a $2,000 investment into about $43 million with the frog-themed Pepe memecoin, but his profits later dropped to $10 million after the token fell by 74% from its peak.

Another investor turned $27 into $52 million in May 2024, according to on-chain data.