Lookonchain said on Aug. 1 that a former BNB Chain employee bought 796.7 million ASTEROID tokens, equal to 79.67% of total supply, shortly after deploying the token. The purchases were made through four newly created wallets for a combined cost of $10,000.
The same wallet cluster has since sold 718.8 million ASTEROID for 1,103 BNB, worth about $638,000 at the time cited, generating a profit of roughly $628,000. The figures were attributed directly to Lookonchain’s on-chain tracking.
The trading activity follows an earlier statement from BNB Chain, which said a former employee had used an original official test wallet without authorization to issue a new meme token identified as ASTEROID. BNB Chain said it had already taken legal action over the matter.
The case links the token’s issuance, concentrated early ownership and subsequent large-scale selling to the same former employee identified in the prior statement.
On Aug. 1, BlockBeats cited Lookonchain as saying that a former BNB Chain employee bought 796.7 million ASTEROID tokens after deploying the new token, using four newly created wallets and spending $10,000 in total. That amount represented 79.67% of ASTEROID’s total supply.
According to Lookonchain, the former employee has since sold 718.8 million ASTEROID for 1,103 BNB, worth about $638,000, locking in a profit of roughly $628,000.
In an earlier statement, BNB Chain said a former employee had issued the new meme token, ASTEROID, without authorization by using an original official test wallet. BNB Chain said it had taken legal action.
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