The trader bagged nearly $2 million in profit by investing in the “4” memecoin shortly after Zhao’s social media post following the BNB Chain phishing incident.
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A lucky cryptocurrency trader turned a $3,000 investment into roughly $2 million within hours after Binance co-founder Changpeng “CZ” Zhao shared a post about a BNB Chain memecoin on X.
Blockchain data shows the trader, identified by wallet address “0x872,” was one of the earliest buyers of the newly launched “4” ($4) token, to blockchain analytics platform Lookonchain. The trader’s initial $3,000 worth of BNB () grew into $2 million, marking a roughly 650-fold return on investment.
Despite the massive gains, the trader sold only a small portion of their holdings and still holds $1.88 million worth of the tokens.
The “4” token was created following a phishing attack on the BNB Chain, where the hacker reportedly made just $4,000 in profit before the community turned the event into a meme.
The trader appears to have sought to capitalize on the social buzz surrounding the memecoin, with their crypto portfolio holding over 98% of their assets in 4.
The trader’s portfolio generated over $1.8 million in unrealized profit over the past week, according to data from .
The industry’s most successful cryptocurrency traders, by returns, who are tracked as “” traders on Nansen’s blockchain intelligence platform, have also bought the memecoin.
The “4” memecoin was the third-most-bought token by smart money traders over the past 24 hours on the BNB Chain, with traders acquiring nearly $100,000 worth of the tokens, data from shows.
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Despite their lack of intrinsic utility, memecoins have previously made millionaires from crypto traders.
In March, another trader reportedly into as much as $43 million by buying the frog-themed Pepe () memecoin. However, the trader held through Pepe’s 74% decline from its all-time high, which saw his unrealized $43 million profit shrink to $10 million when he sold his position.
A separate investor in May 2024, according to onchain data.
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Interest in the “4” token surged after Zhao reposted the BNB Chain’s statement on the phishing incident to his 8.9 million X followers.
“Interestingly, after the hacker dumped ALL his tokens for a $4k gain, the community took over and bought the meme coin higher, as a mock to the hacker,” wrote Zhao in a Wednesday X .
Another unknown wallet purchased the memecoin minutes before Zhao’s X post. It was up over $1.5 million just hours after the trade, according to a Wednesday X post by blockchain data visualization platform Bubblemaps.
Zhao’s post came shortly after the X account was temporarily hacked on Wednesday, Cointelegraph reported.
The attacker used the opportunity to share and promote the memecoin to the page’s over four million followers
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