CZ noted that a safety boat always follows him when he’s kitesurfing, making the scenario of him being dragged out to sea implausible.
Changping Zhao (CZ) has denied widespread rumors about his disappearance after claiming he was caught in a strong current while surfing in Dubai.
The story spread quickly across social media, where traders also rushed to profit from speculation by launching meme coins on Solana and the BNB chain.
Czechoslovakia dispels surfing accident claims
WeChat users shared fake news in group chats over the weekend. Saying The Binance founder was surfing near Jumeirah Beach in Dubai when a sudden rip current dragged him into the sea. Rumors even said that the local coast guard and rescue teams deployed speedboats, drones and helicopters for a search operation in response to the police reports.
Chow since then It was rejected The report was labeled “fake news,” referring to his X account to point out inconsistencies in the social media story. He explained that although he is involved in windsurfing, traditional windsurfing is a completely different sport. The Binance founder later added that when he goes windsurfing, he has a dedicated safety boat following him.
“I don’t surf (kitesurfing is a different sport). Dubai isn’t even a surfing destination. There’s Surf Abu Dhabi, the biggest surfing place in the world, which I haven’t tried yet,” he wrote.
A rumor of an accident sparks a coin frenzy
Traders were quick to seize the opportunity, launching several cryptocurrencies within hours of the news breaking. The tokens appeared on the Solana network, attracting speculators who were quick to capitalize on the confusion.
According to data from GeckoTerminal, most of the pools on Pump.fun associated with the event failed to attract significant liquidity, although one meme token reached over $114,000 in activity in mere hours. However, the excitement was short-lived, as most of these coins lost more than 40% of their value after CZ denied the rumors and confirmed that it was safe.
The 49-year-old is known for his skeptical view of meme coins, accusing traders of chasing hype by launching tokens associated with his name in the past. Zhao has previously described He described the trend as “a bit strange” and urged developers to focus on building practical blockchain applications instead.
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