BNB Chain Sues Former Employee Over Unauthorized Meme Token Launch
BNB Chain is taking legal action against a former employee who allegedly launched an unauthorized meme token called Asteroid Shiba. The company claims that the individual retained access to a wallet's seed phrase after leaving BNB Chain and used it to generate a new private key, creating the token without authorization.
The wallet address in question was originally created for internal purposes, but the employee had kept access to it after departing from BNB Chain. The company says it only became aware of the issue when it noticed that the same wallet address was being used to launch Asteroid Shiba, which quickly gained popularity and reached a market capitalization of millions of dollars.
BNB Chain emphasized that it had no control over the token or wallet address and that Asteroid Shiba carries no legitimate ties to the company or its operations. The company is pursuing legal action against the former employee and cooperating with relevant authorities on this matter.