CZ's address did not actively destroy the Niulai token; instead, the token creator used the smart contract to forcefully transfer the tokens.

According to Arkham data, at around 16:15 today, three consecutive token burns occurred at CZ’s public donation address: 4,444 meme token “Niu Lai” (contract address starts with 0xD043B6, a namesake of the popularly traded 0xbee-started “Niu Lai” token), 4,444 meme coin MarsCoin, and 4,444 “Binance Life”. Verification reveals the 4,444 Niu Lai meme tokens were not burned by CZ himself. The transaction initiator is the token creator (0xcf86..383), who deployed the contract and set privileged authorization, minted 1 billion tokens to his own address, transferred ~800 million tokens to CZ’s address, then used the transferFrom function to forcibly withdraw 4,444 tokens from CZ’s address to a black hole address to simulate CZ’s burn. CZ’s address had no authorization for this token or the initiator during this period. This tactic is not uncommon. Previously, in 2025, the CAAB token project transferred 80% of its total supply directly to CZ’s donation address, promoting “CZ holdings” to push its market cap to a fake high in a short time and mislead investors. The SHORT token sent 99.9% of its total supply to CZ; after CZ “cleaned up” (burned) them, the token saw a short-term surge, allowing the project team to sell off their holdings. BlockBeats reminds users that on-chain monitoring tools will directly label this transaction as “From: Changpeng Zhao”. A single burn hash cannot be taken as CZ’s endorsement, project participation, or active burning. Contract creators can move balances from other token holders’ addresses, carrying extremely high risks. Meme coins generally lack practical use cases and have highly volatile prices, so investment requires caution.