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  • Crypto Twitter personality Cobie shared an encrypted rumor about Binance CEO Zhao and Interpol.
  • The message read: ‘‘Interpol Red Notice for CZ.’’

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Changpeng Zhao, Binance’s CEO, is fighting fresh fear, uncertainty, and doubt (FUD) following an unsubstantiated rumor that the international law enforcement agency, Interpol, had ordered his arrest.

The rumor, which caused a stir on the internet, plunging several tokens, including Binance’s native BNB, was catalyzed by an alleged doctored image of CZ on Interpol’s red notice website. According to the website, a red notice is a global request by law enforcement to locate and arrest a suspect pending legal action.

It all began when cryptocurrency influencer Cobie tweeted an SHA 256 hash encrypted message, which read ‘Interpol Red Notice for CZ.’’ After a user managed to decipher the encryption, Cobie later dispelled the rumor as untrue.

‘‘Have posted SHA256 hash of rumors > 20 times in the past year without the secret being revealed – the point of a hash commitment scheme is nobody is supposed to be able to read them until after the secret is revealed, ‘‘Cobie wrote. ‘‘Well, it is a prediction and a rumor.’’

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BNB and Bitcoin prices declined following the allegations

After the rumor erupted on Twitter, BNB dropped sharply, losing 4% before recovering to $311 at press time. Bitcoin was not spared either; according to CoinMarketCap data, the top crypto lost 3% in the same period.

Following the FUD, Zhao called for unity in the digital asset space, saying ‘‘there are enough external forces attacking us. Our industry needs to unite at this juncture,’’ perhaps referring to the legal action brought against the exchange by the regulators, including the CFTC, which sued the firm last month for allegedly breaching derivatives laws.

‘’If you panic sell on FUD or photoshopped images, you aren’t likely to become rich. Block the FUD sources,’’ CZ wrote.

According to a report by Bloomberg published last month, Binance, which currently accounts for about 60% of the crypto spot and derivatives market, recorded a sharp decline in trading volumes due to regulatory challenges. Besides the CFTC, the US Internal Revenue Service, the DOJ, and the SEC are also probing the exchange.

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CryptoWhat
CryptoWhat was created in 2015 and has become one of the most trusted and well-respected sources of information on all things crypto. The blog's authors are dedicated to providing clear, concise, and jargon-free explanations of this complex technology, so that everyone can understand it.