BNB Chain Employee Faces Court Over Unauthorized Meme Token Creation

A former employee of BNB Chain has been taken to court over allegations that they used unauthorized access to a tutorial wallet to create a meme token, ASTEROID.

The individual in question retained access to the seed phrase for the wallet after leaving their position at BNB Chain and generated new private keys. They then used four newly created wallets to buy 79.67% of the total supply of ASTEROID tokens, amounting to $10 million (approximately ¥1.57 billion).

The employee later sold a significant portion of these tokens for over 1,100 BNB ($638,000 at the time), resulting in an estimated profit of around $628,000.

CZ, the co-founder and former CEO of Binance, weighed in on the situation, calling the individual 'basically a scammer' and advising users to stay safe.