An anonymous source claimed that Changpeng Zhao, CEO of Binance, received a Red Notice from Interpol.
The rumour caused a 3.11% drop in Binance’s native coin, BNB, currently trading at $303.62.
CZ has denied the accusations and shared a photo of the alleged Red Notice, claiming it was photoshopped.
The cryptocurrency market has been abuzz with a recent rumour from an anonymous source claiming that Changpeng Zhao (CZ), the CEO of the world’s top cryptocurrency, has allegedly received a Red Notice from Interpol.
The rumour about the Interpol Red Notice issued for Changpeng Zhao (CZ), the CEO of Binance, has immediately impacted the exchange’s native coin, BNB. This quickly suffered a 3.11% drop in price and is presently trading at $303.62.
The speculation spread following a popular Crypto Cobie, a Twitter user, posted an encrypted message. The “Interpol Red Warning for CZ” message encoded in a string of characters and numbers using the SHA-256 hash algorithm, the same encryption used to safeguard bitcoin and other cryptocurrencies.
Despite the accusations against him, CZ has taken to his Twitter account to denounce the claims, stating that they are entirely untrue. He even shared a photo of the alleged Red Notice, claiming that the picture photoshopped.
This claim has put many cryptocurrency traders and investors on edge. Because they fear the future of Binance, CZ, and the whole cryptocurrency industry. In addition, the cryptocurrency market’s uncertainties and volatility exacerbated by the current charge against CZ. Cryptocurrencies are seen by many as promising investment opportunities. But they may be dangerous due to a lack of regulation and the possibility of legal disputes.
Allegations Laid Against CZ
According to an earlier report by TheNewsCrypto, Changpeng Zhao (CZ) accused by two law firms. That are Moscowitz Law Firm and Boies Schiller Flexner, of engaging in fraudulent activities within the cryptocurrency market. The accusations against the Binance CEO include issuing unregistered securities and using self-proclaimed “finance gurus” on social media to promote the exchange for personal financial gain.