Company $BNB Chain stated that it has no connection whatsoever to the memecoin ASTEROID, created by a former employee. The company reported that this individual created a new private key using a seed phrase to which they had unauthorized access and issued tokens from the same wallet address.
The story begins with a previously launched token called TST. According to $BNB Chain, while working at the company, the former employee created a new wallet address using an official test wallet to prepare a video tutorial and launched the TST token through this address.
It was stated that the employee, who retained unauthorized access to the relevant seed phrase even after leaving the company, used this information to create a new private key. It was also established that the same address was used on August 1st on the $BNB Chain network to distribute a new memecoin called Asteroid.
It was reported that the market value of the ASTEROID token briefly rose to $10 million within the first four hours after launch.
$BNB Chain clarified that the altcoin ASTEROID was not created, authorized, or promoted by the company. The company also stated that it does not control the token or the associated wallet address, and that the project is not supported by $BNB Chain.
The statement said: "$BNB Chain was not involved in the creation of this token, nor did it give permission for it or endorse it. We do not control either the token or the wallet address."
Company $BNB Chain announced the initiation of legal proceedings against the former employee and cooperation with relevant governmental authorities on this matter.
*This is not investment advice.
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