Binance Founder Receives 90 Million Fake Grok Tokens Amid Scam Allegations

According to analysts from PeckShield, a wallet associated with Binance founder Changpeng Zhao received 90 million counterfeit Grok tokens.

This particular token is not linked to the similarly named AI chatbot developed by Elon Musk’s xAI.

PeckShield indicated that these tokens are likely a scam, as their creator utilized a multi-send tool to distribute Grok to various addresses.

Data from Bubblemaps suggests that the fraudulent tokens associated with the chatbot first emerged in 2023.

At that time, scammers launched an ERC-20 standard token, which subsequently lost over 90% of its value after the creator sold 0.5% of the total supply.

On April 14, cybersecurity expert Denis Thomas uncovered a scheme where fraudsters were disseminating information about a fake livestream featuring Musk, claiming to give away $20,000 in cryptocurrency.

The scam detector Coinspeedrun documented the launch of meme tokens tied to the entrepreneur’s name on the BNB Chain network.