BNB Chain Takes Legal Action Against Rogue Meme Token Creator
BNB Chain is taking legal action against a former employee who launched a rogue meme token called Asteroid Shiba without company authorization. The individual retained unauthorized access to a wallet's seed phrase after leaving BNB Chain, which was used to generate the new private key and launch the token.
The token, Asteroid Shiba, has seen its market capitalization reach millions of dollars with thousands of holders acquiring it. However, BNB Chain emphasized that the token carries no legitimate ties to the company or its operations, stating 'these are not affiliated with or endorsed by BNB Chain.'
BNB Chain referenced a similar situation from 2025 involving a test token known as TST, which briefly appeared in a company tutorial video before gaining unexpected trader attention.
The company is now pursuing formal legal action against the former employee and cooperating with relevant authorities on this matter. Traders have been urged to research independently before engaging with tokens lacking verified company backing.