BNB Edges Higher As Community Rallies After X Account Hack

The hack involved phishing links promoting a fake memecoin, but the BNB community responded by buying the token en masse after the hacker dumped it.

Oct 1, 2025, 2:16 p.m.

BNB traded within a wide range over the last 24-hour period, dipping early before recovering to finish the period near $1,020, up more than 1% despite a hack of the BNB Chain’s official X account.

The hacker took advantage of the BNB Chain’s official X account to post phishing links promoting a fake memecoin called “4.” The number alludes to the number Binance founder Changpeng Zhao uses to symbolize his commitment to focusing on development and innovation, rather than worrying about fear, uncertainty and doubt (FUD).

The attacker made off with around $8,000 before control of the account was regained. The largest victim was one user who lost $6,500.

Binance founder and former CEO Changpeng Zhao said that the exchange's security team is now tracking the funds and will reimburse victims in full.

Rather than panic, BNB’s community turned the incident into a joke, buying the scam token en masse and pumping it 500% in a show of defiance. CZ called it “the funniest comeback by the community,” helping reframe the hack as a display of resilience.

BNB’s 1% rise is relatively small compared to the broader cryptocurrency market’s. As measured by the CoinDesk 20 (CD20) index, the market rose 3.8% in the last 24 hours, after the U.S. government shutdown drove investors to alternative assets including BTC and gold.

Technical Analysis Overview

BNB traded in a wide $27 range between $993.23 and $1,021.03 across a 24-hour period. The session opened at $1,020.36 before dropping to a low of $993.23.

That move, roughly a 2.6% intraday dip, came with a spike in volume, with over 100,000 tokens traded in a single hour, double the daily average, according to CoinDesk Research's technical analysis data model.

Buyers stepped in near the $993–$998 zone, absorbing the selling and lifting the price back above the $1,010 mark. Volumes have remained elevated, suggesting traders were defending short-term support around $1,010.

The stable close above $1,010, along with strong buying near $993, suggests buyers are willing to defend dips, especially as positive developments unfold around the chain.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

PEPE Meme Coin Jumps 6% as Trading Volume Triples and Whale Activity Builds

PEPE's price is now supported near $0.00000900, with resistance around $0.000009681, and open interest for PEPE futures has risen to near $600 million.