Trader Made 29x on CZ's Wallet Before Founder Shut It Down

A second tracked wallet jumped into Marscoin after seeing CZ’s burn, spending 133,000 USDT to buy 6.15 million tokens. When CZ posted that he would stop using the public address, the token crashed more than 90%. The trader closed out the position for just 22,400 USDT, a loss of roughly $110,700 in about two hours.

The burns that triggered the frenzy were never meant to be a signal. CZ said he was using the Trust Wallet app for routine spam-token cleanup on an address that traders had started watching for clues. Speculators read the burns of two unrelated, third-party BNB Chain tokens as a sign of intent. One unofficial Marscoin clone spiked from a $40,000 market cap to $30 million, a gain of more than 30,000%, before collapsing back to roughly $5.26 million once the burns were revealed as routine housekeeping.

“The more I burn, the more people will send meme coins to the address,” CZ acknowledged, describing a feedback loop he said he couldn’t easily stop. Rather than keep managing the attention, he moved his legitimate BNB holdings to Giggle Academy, his education-focused charity, and converted the wallet into a permanent burn address, closing it to future transactions entirely.

It isn’t the first time CZ’s public activity has moved memecoin markets, or the first time he’s had to publicly warn traders against reading too much into his posts. The wallet is now closed, removing at least one unpredictable source of memecoin volatility from the market. CZ’s holdings sit with Giggle Academy, and the address he once used for routine cleanup is permanently out of circulation.