BNB Chain said on Aug. 1 that a wallet address previously created by a former employee had first been used to issue the meme token TST as part of a video tutorial, and that the employee is no longer with the company over the incident. According to the statement, the former staff member retained unauthorized access to the relevant seed phrase after leaving and used it to generate a new private key. BNB Chain said it has since learned that the same address is being used independently in activity tied to another meme token, ASTEROID, on BNB Chain. The network said it did not create, authorize, promote, or participate in the token’s issuance and has no control over either the token or the wallet address. BNB Chain added that the matter is unrelated to the organization and not endorsed by it, and said it is taking legal action against the former employee while cooperating with relevant government agencies. BlockBeats had earlier reported that BSC ecosystem meme token ASTEROID reached a $10 million market capitalization within four hours of launch.
BNB Chain said on Aug. 1 that a wallet address previously created by a former employee had been used to issue the meme token TST as part of a video tutorial.
The company said the employee is no longer with BNB Chain because of the incident. After leaving, the former employee allegedly retained unauthorized access to the seed phrase tied to the wallet and used it to generate a new private key.
BNB Chain said it has now become aware that the same address is being used independently in activity related to a new meme token, ASTEROID, on BNB Chain. The network said it did not create, authorize, promote, or participate in the issuance of that token, and that it has no control over either the token or the wallet address.
It added that the matter is unrelated to BNB Chain and has not been endorsed by the organization. BNB Chain said it is taking legal action against the former employee and is cooperating with relevant government agencies over the case.
BlockBeats previously reported that ASTEROID, a meme token in the BSC ecosystem, reached a $10 million market capitalization within four hours of launch.
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