CZ Abandons Public Wallet Over Memecoin Flood
Crypto exchange CEO Changpeng Zhao (CZ) has abandoned his public wallet due to an influx of memecoins, unwanted tokens, and 'dust' coins. The issue is not a hack but rather the nature of public blockchain addresses, which can receive any compatible asset sent by anyone.
The problem is nothing new for CZ, who experienced it firsthand in April 2025 when his address received 90 million fake Grok tokens. This time around, the accumulation of memecoins and unwanted tokens made it difficult to manage his wallet.
CZ initially thought hiding these assets wouldn't be useful for many people but later changed his mind after user reactions. Trust Wallet already has an 'Ignore coins' feature that allows users to hide cryptos they no longer want to see, but CZ finds it currently takes five clicks to access.
Trust Wallet cannot delete or prevent the transfer of received tokens, only decide not to display them anymore. The application is working on several protections for crypto users and has reported detecting over 225 million attempted address poisonings using its existing system.