BNB Chain, the blockchain ecosystem behind the BNB cryptocurrency, said it is pursuing legal action after a former employee allegedly used unauthorized access to a wallet to launch a memecoin.<\/p>\n
In an X post on Saturday, BNB Chain said<\/a> the wallet was originally created for a video tutorial explaining how to launch tokens on BNB Chain. It said the former employee, who was not named in the message, retained unauthorized access to the wallet\u2019s seed phrase after leaving the company and later used the address to create a new token.<\/p>\n Blockchain analytics platform Lookonchain subsequently alleged<\/a> that the former employee deployed a meme token called Asteroid Shiba (ASTEROID) and used four newly created wallets to buy 796.7 million tokens, representing 79.67% of the total supply. Lookonchain further alleged that the wallets later sold 718.8 million tokens for 1,103 BNB, worth about $638,000 at the time of the transaction.<\/p>\n \u201cBNB Chain did not create, authorize, promote or participate in the creation of this token and has no control over the token or wallet address,\u201d BNB Chain said.<\/p>\n Binance founder and former CEO Changpeng \u201cCZ\u201d Zhao shared BNB Chain\u2019s statement on X and wrote<\/a> that the former employee was \u201cbasically a scammer,\u201d while advising users to \u201cStay SAFU.\u201d<\/p>\n Related: <\/strong><\/em>Binance \u2018red teams\u2019 its own staff every month to keep hackers out<\/strong><\/em><\/a><\/p>\n Related:<\/strong> Bitcoin price<\/a> \u00b7 BTC live chart<\/a> \u00b7 Ethereum price<\/a> \u00b7 ETH gas fee<\/a> \u00b7 Bitcoin price today<\/a> \u00b7 Top 10 cryptocurrencies<\/a><\/p>\n