Binance CEO Denies Any Connection To Cloud Token Ponzi Scam Claiming to Speak at Consensus Event
Binance, the largest crypto exchange in the world, has recently been accused of having relations with a prominent Ponzi scheme known as Cloud Token.
According to a recent tweet made by Alex Saunders, one of the people linked to the company, a man named Ronald Aai, affirmed that he was a panelist in a recent Consensus event sponsored by Binance.
Cloud Token is the latest pyramid scheme doing the rounds in Australia promising high monthly returns with their trading bot. Apparently working with @binance. Can you help squash this early please @cz_binance. pic.twitter.com/MC4UNDZn63
— Alex Saunders (@AlexSaundersAU) August 26, 2019
His company, Cloud Token, was identified as a scam, which prompted people to wonder if Changpeng Zhao, the famous CEO of Binance, was related to the man. Zhao answered promptly, affirming that he never met this person and that 99% of all people who claim that they work with them are scammers.
Not only there was a possible connection between Aai and Binance but also the company claimed to have a lot of money stored in Binance’s wallets. This information, specifically, was neither confirmed nor denied by Zhao, who did not mention it.
A link that actually exists is the one between Cloud token’s founder Sheng Zhao and a scam named PlusToken. The scam vanished after people deposited $2.9 billion and was quite prominent as one of the largest scams in crypto history.
People claiming to have links with Binance are not uncommon. Several scammers try to surf on the exchange’s popularity to fool investors into giving their money. One of the only targets that seem to be targeted more often than Binance is Elon Musk, who already joked about it a few times.