BNB Chain Sues Former Employee Over Memecoin Scandal
BNB Chain has announced that it is pursuing legal action against a former employee who allegedly used a tutorial wallet to launch and profit from a new memecoin called Asteroid Shiba (ASTEROID).
The incident occurred when the former employee retained unauthorized access to the seed phrase for a wallet created for a video tutorial on BNB Chain's website.
The wallet was originally used to launch TST, a test token that was featured in a February 2025 tutorial. After the growth of the memecoin, the BNB Chain team deleted the video and private key for the creator address, but the individual allegedly retained the seed phrase, allowing them to regain control and use it to launch ASTEROID.
The token appears to have imitated an existing project also called Asteroid Shiba. The team behind the pre-existing project stated that the new token was a copycat launched through Flap using the same rewards model.