PANews reported on May 16 that Luo Yonghao issued a statement on the X platform, saying, "I have never participated in, promoted, or endorsed any virtual currency projects. All accounts using my name, avatar, or image are fake. Please do not believe any related investment information."

Previously, Luo Yonghao had called out CZ, stating that a cryptocurrency named "Luo Yonghao" was using his image as a logo and appeared in the Binance wallet tab, demanding that Binance remove it or provide a formal complaint channel for removal. Subsequently, Binance wallet has blocked the meme coin with the same name, and it is no longer possible to find related meme coins.