BNB Chain Sues Former Employee Over Meme Coin Misuse

BNB Chain has confirmed that a former employee misused an official test wallet to issue a new meme coin called Asteroid (ASTEROID).

The wallet, created for educational purposes during production of a tutorial video, was used by the former employee to generate a new private key and participate in the issuance of the meme coin.

BNB Chain stressed that Asteroid was not created, approved, or promoted by the network, and that it had no involvement in the issuance process.

The token's market capitalization surpassed $10 million just four hours after its launch on the BNB Chain ecosystem, drawing investor attention.

As a result, BNB Chain is pursuing legal proceedings against the former employee and cooperating with relevant government authorities.