Changpeng Zhao, widely known as CZ, has dismissed viral rumors claiming he went missing after allegedly being caught in a dangerous rip current while surfing in Dubai.
The false story spread rapidly across social media platforms and even sparked a wave of meme coin launches on Solana and the BNB Chain as traders attempted to profit from the speculation.
CZ later clarified that the claims were entirely fabricated and pointed out several flaws in the circulating reports.
CZ Responds to Fake Surfing Incident Reports
According to the rumors shared in WeChat group chats over the weekend, the Binance founder had supposedly been surfing near Dubai’s Jumeirah Beach when strong ocean currents dragged him out to sea.
The viral claims further alleged that local rescue teams, coast guards, helicopters, drones, and speedboats had been deployed in a large scale search operation following emergency reports.
CZ responded directly through his X account, where he described the reports as fake news and highlighted inconsistencies in the story.
He explained that he does not participate in traditional surfing and instead practices kitesurfing, which he described as an entirely different sport.
The Binance founder also noted that Dubai is not widely recognized as a surfing destination. He added that whenever he goes kitesurfing, a dedicated safety boat always accompanies him, making the idea of being lost at sea highly unrealistic.
CZ further mentioned Surf Abu Dhabi, one of the world’s largest surfing facilities, though he said he has not personally visited it yet.
False Rumors Trigger Meme Coin Speculation
As the rumors gained traction online, traders quickly launched several meme coins tied to the fake incident.
Many of the tokens appeared on the Solana network as speculators rushed to capitalize on the viral story and the confusion surrounding CZ’s supposed disappearance.
Data from GeckoTerminal showed that most of the newly launched liquidity pools failed to gain meaningful traction. However, one meme coin briefly generated more than $114,000 in trading activity within just a few hours.
The excitement faded rapidly after CZ publicly denied the rumors and confirmed he was safe, causing many of the tokens to lose more than 40% of their value.
CZ Continues Criticism of Meme Coin Culture
The 49 year old crypto executive has repeatedly expressed skepticism toward meme coin speculation and has criticized traders for launching tokens tied to his name or public events.
CZ previously described the meme coin trend as “a little weird” and encouraged developers to focus instead on building useful blockchain applications with real world value.
He also reiterated that he has never personally invested in meme coins, referencing the viral TST token incident from last year.
That token gained widespread attention after some users falsely promoted it as being connected to Binance, despite having no official relationship with the exchange.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
