BNB Chain: Former Employee Unauthorizedly Uses Official Test Wallet to Launch New Meme Token, Legal Action Taken

BlockBeats News, August 1st, BNB Chain's official announcement stated that a wallet address previously created by a former employee was used by them to launch a token (Meme coin TST) as part of a video tutorial. The employee is no longer with the company due to this incident. After leaving the company, the employee retained unauthorized access to the relevant seed phrase and used it to generate a new private key.

BNB Chain has now learned that the same address is being independently used for activities related to a new Meme token (ASTEROID, a Meme coin on BNB Chain). BNB Chain did not create, authorize, promote, or participate in the issuance of this token and has no control over the token or the wallet address. These are unrelated to BNB Chain and have not been endorsed by BNB Chain.

BNB Chain is taking legal action against the former employee and cooperating with relevant government agencies on this matter.

Previously reported, the BSC ecosystem meme coin ASTEROID achieved a $10 million market cap within 4 hours of launching.