Founder of Today's Most Talked-About Altcoin Sells Nearly All His Tokens!

cryptonews.ruPublished on 2026-08-01Last updated on 2026-08-01

Abstract

Notable selling activity is occurring with the ASTEROID tokens, reportedly launched by a former BNB Chain employee. According to Lookonchain, the token's developer has made an approximate profit of $628,000 by selling a significant portion of holdings. Data shows the former employee bought 796.7 million ASTEROID tokens (79.67% of the total supply) for $10,000 via four newly created wallets shortly after the token's creation. Subsequently, 718.8 million tokens were sold on the market for approximately 1,103 BNB (~$638,000), resulting in the substantial profit after deducting the initial investment. BNB Chain previously stated that the former employee had unauthorized access to a seed phrase linked to the company's official test wallet and used it to mine the ASTEROID memecoin. The company emphasized that ASTEROID was not created, authorized, or endorsed by BNB Chain and announced it has initiated legal proceedings against the former employee and is cooperating with relevant government authorities.

Significant selling activity is observed in the ASTEROID tokens, the launch of which, as reported, was carried out by a former employee of the $BNB Chain. According to the analytical platform Lookonchain, the token's developer made a profit of approximately $628,000 by selling a significant portion of his assets.

According to published data, the former $BNB Chain employee purchased ASTEROID tokens through four newly opened wallets after the token's creation. In total, 796.7 million ASTEROID tokens were purchased through these wallets for the sum of $10,000.

The acquired amount constituted 79.67% of the total supply of ASTEROID tokens. The developer, who controlled the majority of the token's supply, subsequently sold 718.8 million ASTEROID tokens on the market.

In total, the sales generated 1103 $BNB, or approximately $638,000. After deducting the $10,000 spent on the initial purchase, the profit from the trades amounted to approximately $628,000.

Earlier, $BNB Chain reported that a former employee had unauthorized access to a seed phrase associated with the company's official test wallet and used this access to mine a memecoin called ASTEROID.

The company emphasized that ASTEROID was not created, authorized, or endorsed by $BNB Chain. $BNB Chain also announced the initiation of a legal case against the former employee and cooperation with the relevant government agencies.

*This is not investment advice.

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