Crypto Twitter went wild earlier today after a viral “screenshot” by X user @FarzadXBT claimed that Binance founder CZ sold $30 million worth of $ASTER tokens.
The image quickly made the rounds, until blockchain analysts stepped in and tore it apart.
The Viral Claim
The screenshot showed what looked like a massive sell-off: CZ supposedly dumping 35 million $ASTER tokens from his personal wallet. The timing? “This morning,” according to the image.
Except… it never happened.
The screenshot used real Binance hot wallet transactions from the past week but with a doctored timestamp. The image editor swapped out Binance’s official wallet address, 0x8894E0a0c962CB723c1976a4421c95949bE2D4E3, for a fake “CZ wallet.”
That small change made it look like the transfers came directly from CZ himself.
JUST IN: CZ Linked Wallet sells 35,000,000 $ASTER worth $30.42 million. pic.twitter.com/6rqiOWHCFJ
— Farzad 🇸🇦 (@FarzadXBT) October 30, 2025
Analysts Call It Out
Blockchain analysts @EmberCN and @lookonchain were quick to fact-check the claim, and their findings were clear.
“It says here that CZ sold 35 million $ASTER, but I checked the on-chain data. There are no corresponding transfers as mentioned,” EmberCN wrote.
The supposed “CZ sell” transactions? They actually corresponded to internal Binance hot wallet movements, not personal transfers.
这里说 CZ 出售了 3500 万枚 $ASTER ，不过我看了下链上数据，并没有他提到的对应链上转移。
对应到他提到的这三笔 $ASTER 转移，实际是币安热钱包之间的互转。有人把 0x889 这个币安热钱包 P 成了 CZ 的钱包。https://t.co/IoGcVqpMOr
这里把数量设置 1000 万枚以上，就可以看到。本文由… https://t.co/zROC2PRKAk pic.twitter.com/T6qvhw4iJg
— 余烬 (@EmberCN) October 31, 2025
“Someone mistook the Binance wallet 0x889 for CZ’s wallet,” confirmed Lookonchain.
Fake news! 🚨
The 31.84M $ASTER($34.53M) transfer was between #Binance hot wallets and has nothing to do with CZ(@cz_binance)’s wallet.https://t.co/mRGs56gItF pic.twitter.com/BZbBm1H3EA
— Lookonchain (@lookonchain) October 31, 2025
CZ didn’t waste time addressing the rumor.
In his typical direct tone, he jumped on X to shut it down:
“Fake news. Please unfollow people who spread this nonsense.”
That’s about as clear as it gets.
4. Fake news!
Unfollow the guys posting fake news. pic.twitter.com/Os8dF0dSjh
— CZ 🔶 BNB (@cz_binance) October 31, 2025
The Real Aster Update
While FUD spread on social media, the Aster team dropped a genuine update, one that had nothing to do with CZ but could have a real impact on $ASTER’s tokenomics.
In a statement, Aster announced refinements to its ongoing buyback and airdrop model as part of its effort to strengthen long-term value.
Here’s the breakdown:
- 50% of all buybacks (S2 and S3) in the public buyback address will be burned, permanently reducing supply and reinforcing $ASTER’s market strength.
- The remaining 50% will move back to the locked airdrop address, effectively reducing circulating supply and allowing more allocation for future airdrops.
This means more rewards for long-term holders and genuine Aster users, and less supply pressure overall.
As part of our ongoing efforts to enhance Aster’s token economy, we’re refining the S3 buyback and airdrop model to deliver stronger, long-term value for both users and holders:
• 50% of all buybacks, including S2 and S3, in the public buyback address will be burned — reducing…
— Aster (@Aster_DEX) October 31, 2025
Behind the Buyback Strategy
Aster has been executing its S3 buyback plan, which focuses on strengthening its token economy after the earlier S2 round. The goal is straightforward, make $ASTER more sustainable by balancing deflationary burns with community-focused airdrops.
The 50-50 split model ensures that half the tokens get permanently removed from circulation, while the rest go toward rewarding loyal users who hold and stake $ASTER.
This approach not only enhances liquidity control but also creates a more resilient long-term ecosystem, especially in times of heightened speculation and fake news.
Market Reactions
Despite the false sell-off rumor, $ASTER remained relatively stable in trading.
According to CoinMarketCap data, $ASTER was trading below $1 following the sell off saga, as investors realized the “CZ sell” story was a hoax, price is slightly recovering.
The quick debunk from major analysts and the transparency from Aster’s team helped cool the panic. Still, the incident served as a reminder of how easily misinformation spreads in the fast-paced world of crypto.
Lessons from the Chaos
This episode highlights a growing issue in the industry, fake on-chain screenshots. With tools like Photoshop and basic blockchain explorers, anyone can craft a convincing “leak.” But as this case showed, on-chain truth always wins when verified by reputable trackers like Lookonchain and EmberCN.
It also showed CZ’s consistent stance on transparency. Whether it’s a market rumor or an exchange controversy, his first response is to call out fake narratives directly, not let them fester.
For Aster, the timing might have been inconvenient, but the fundamentals speak louder than FUD. With its evolving buyback and burn system, Aster is doubling down on its mission, to reward loyal holders and maintain long-term value stability.
As the crypto space matures, such mechanisms, along with fast-acting transparency from leaders, are what separate real projects from noise.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!