"CZ's Tweet Boosts TST Meme Coin $3.4M Scam; Pump.fun Fights DOGSHIT2 IP Row"

Former Malaysian PM’s X Account Hacked in $3.4 Million Meme Coin Scam

Changpeng Zhao’s Tweet Sparks Surge in TST Token, Raising Speculation of Insider Trading and Regulatory Concerns

Binance founder Changpeng Zhao (CZ) unintentionally triggered a surge in TST’s market cap after tweeting about the token.

TST, a meme token launched on the Four.meme platform, saw its market capitalization surge to nearly $500,000 within hours of CZ’s tweet.

Crypto analyst Ai shed light on an intriguing transaction. A trader, identified by the wallet address 0xeBB…74711c, purchased $35,000 worth of TST just minutes before CZ’s tweet. As the hype built up, the trader’s holdings skyrocketed to a floating profit of $657,000—a staggering 1,885% return.

Elliot’s Crypto, another industry veteran, pointed out that BNB community members saw an opportunity, piling in on the trade and fueling a meme-driven price surge.

CZ insists that the TST token was purely for demonstration purposes. Nevertheless, the incident reflects his and other industry leaders’ immense influence. Even an unintentional mention can send markets into a frenzy, reinforcing how unpredictable and volatile crypto markets remain.

Pump.fun Under Pressure to Remove DOGSHIT2 Tokens Amid Allegations of IP Violations

Two law firms, Burwick Law and Wolf Popper LLP, have accused Pump.fun of using their intellectual property to create a controversial meme coin, Dog Shit Going Nowhere (DOGSHIT2). The firms also accused Pump.fun of trying to intimidate their clients.

The allegations come as both firms pursue a class-action lawsuit against Pump.fun, claiming the platform has facilitated widespread securities fraud. They also called out the launchpad for allowing users to create and trade unregistered tokens easily.

DOGSHIT2 Soars Amid Pump.fun’s Legal Woes

On Thursday, the cease-and-desist letter, dated February 5, 2025, was shared on X