BNB Chain Sues Ex-Employee Over Alleged Unauthorized Memecoin Trade

BNB Chain has taken legal action against a former employee accused of unauthorized trading activity on its network. The ex-employee allegedly retained access to a seed phrase after leaving the company and used it to generate a new private key for a wallet address.

The wallets associated with this address later bought 79.67% of ASTEROID's supply, valued at $10,000, before selling most of the tokens for an estimated $628,000 in profit.

BNB Chain stated that it cooperated with authorities but did not disclose any further details about the case or its planned legal action.