Changpeng Zhao Cleared of $35M ASTER Token Transfer Allegations

Changpeng Zhao, the CEO of Binance, has been cleared of allegations regarding a $35 million transfer of ASTER tokens, according to recent on-chain analysis. The claims, which surfaced online, were quickly debunked by blockchain analyst @ai_9684xtpa, who revealed that the evidence was based on manipulated screenshots.

On-Chain Analysis Exposes Fabrication

The controversy began when screenshots purportedly showing a massive ASTER token transfer linked to Zhao made the rounds on social media. However, the blockchain analysis highlighted discrepancies, showing that the transactions were fabricated to resemble a recent sale. The wallet address in question was confirmed to be under Binance's control, nullifying the allegations against Zhao.

Previous Allegations and Their Impact

This is not the first time Zhao has faced accusations of misconduct. Previously, there were claims regarding his involvement with the TST memecoin. However, unlike past allegations, this incident uniquely involved the use of fabricated images rather than actual trades. These repeated accusations, although unfounded, underscore the scrutiny faced by prominent figures in the cryptocurrency industry.

Official Response and Industry Reactions

In response to the allegations, Zhao took to social media to deny any involvement. In a post on X, he suggested that the rumors originated from a key opinion leader (KOL) who disseminated the manipulated screenshots. The incident has sparked discussions within the crypto community about the need for accurate information dissemination and the dangers of misinformation.

For more detailed information on the analysis, refer to the original report on CoinMarketCap.