Changpeng Zhao ended up abandoning the public crypto wallet he was using. Too many memecoins, dust and unwanted tokens were arriving directly at the address without him being able to prevent them. The episode also shook up Trust Wallet. CZ is now requesting that its function to ignore certain tokens becomes much easier to use.
In brief
- CZ abandons a public wallet invaded by memecoins and unwanted tokens.
- Trust Wallet already has an “Ignore coins” function, but it remains difficult to access.
- A wallet cannot prevent someone from sending a token to a public address.
CZ abandons its public crypto wallet
The problem is not a hack. A public blockchain address can receive compatible assets sent by anyone. Impossible for its owner to refuse the transaction before its arrival. CZ experienced this on a large scale. The subject is not new to him. In April 2025, his address had already received 90 million fake Grok tokens.
This time, the accumulation of promotional memecoins, small amounts of dust and spam tokens ended up making the address difficult to manage. CZ therefore put it aside. This does not clean the blockchain. The tokens received remain visible and so do old transactions. A public address retains its history.
The problem mainly affects the display of the crypto wallet. A user who receives ten, fifty or a hundred tokens without having requested them does not necessarily want to see them appear each time the application is opened. CZ initially thought that hiding these assets wouldn’t help many people. He changed his mind.
Trust Wallet already had the function
After several reactions from users, CZ admitted to having incorrectly assessed the interest of this option. Trust Wallet already has a feature called “Ignore coins”. It allows you to hide cryptos whose balance the user no longer wants to see in their interface.
Small problem: according to CZ, you currently have to go through five clicks to find it. He is now expecting an update to the app to make this feature more accessible. It would mainly be an interface change.
Trust Wallet cannot delete a token received on the blockchain or prevent its transfer to a public address. The application can simply decide not to display it anymore. Nuance matters. Hiding a memecoin does not destroy it. The contract, the transaction and the balance remain viewable on-chain.
Trust Wallet is already working on several protections for crypto users. In March, the application had, for example, deployed protection against address poisoning on Ethereum and BNB Chain.
The system covers 32 EVM blockchains and compares some suspicious addresses before sending a transaction. Trust Wallet then indicated that it had detected more than 225 million address poisoning attempts. The function requested by CZ addresses a much more trivial problem. The tokens are arriving. The user simply wants to stop seeing them.
Memecoins mainly seek visibility
Sending a token to the public address of a crypto personality costs little and sometimes guarantees free publicity. CZ represents an ideal target. Once the token is visible in your wallet, its name can circulate on X, Telegram or in trading communities. Some projects then try to make people believe in a link with the founder of Binance when no partnership exists.
This has already happened around him several times. A simple tweet from CZ can even be enough to provoke very violent movements. In October 2025, a trader turned around $3,000 into $2 million using a memecoin associated with a tweet from CZ. No wonder his address attracts senders. CZ therefore chose the simplest solution: change crypto wallet for its current use. Trust Wallet should above all make the button allowing you to ignore tokens much more visible. The wallet will remain public. Memecoins will likely keep coming.
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