What started as a good faith by the founder of the Binance Changpeng ‘CZ’ Zhao took an unexpected touch when his generous donation caused victims to the MEMED scores to receive more than he gave it at first.
Binance founder donates to victims of fraud scale
CZ 150 BNB (about 100,000 dollars) donated to help those affected by the scale disaster, but soon found that the flow of donations for its wallet exceeded its original contribution.
The scale fraud process appeared after he sent the distinguished social media support to Argentine President Javier Miley now the price of the distinctive symbol only until it collapses shortly after. It was found that the project, which was initially described as a means of strengthening small companies, was a plan for pumps and discharge that eliminated investor money and left more than 40,000 victims in a state of financial ruin.
In response, a university student named INSENG began to raise money to help the affected, and pledged at $ 50,000. After that, CZ intervened on February 17, and publicly announced his donation of 150 BNB. However, when he participated in the wallet address to facilitate transparency, an unexpected phenomenon occurred – the donations began in the floods, exceeding the initial amount he provided.
Within a short period, the CZ donation address received a set of contributions from the Crypto community, bypassing its 150b pledge quickly. By February 19, the portfolio of the portfolio grew to 620 BNB, equivalent to more than $ 400,000.
When admitting a overwhelming response, Check Chic moved to social media to exchange his amazement:
“When you try to earn fast money, you often lose. When you give money away, you can return to more.”
Instead of keeping additional funds, he made it clear that he would distribute them to further assisting fraud victims, especially those who were affected by the breaking of the scale, as well as holders of other metal currencies that are struggling such as broccoli and the distinctive code test (TST).
The collapse of the balance symbol
The rapid rise of the scale and its sudden destruction is one of the most controversial events in the date of encryption. The distinguished symbol was launched on February 15, after President Millie was promoted on social media, and linked it to an economic initiative. Support sparked a wave of investor interest, and the market ceiling pushed the distinctive symbol to amazing $ 4 billion.
But the excitement did not last. The same speed that he climbed, the scale decreased by 91 % after deleting Miley position and distanced himself from the project, claiming that it had been misled. The sudden collapse raised accusations of fraud, as investors claim to manipulate the market by the insiders. Subsequent investigations revealed that one entity controls more than 82 % of the distinctive symbol supply, providing doubts that the accident was organized.
Vacations did not stop there. Trading platforms like JuPITER and Meteora, which helped facilitate scale transactions, are now undergoing. In the wake of the controversy, the co -founder of Meteora, Ben Chow resigned, amid allegations of trading from the interior and misconduct.
