BNB Chain Takes Legal Action Against Former Employee for Unauthorized Meme Coin Launch

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BNB Chain has initiated legal action against a former employee who used an unauthorized official test wallet to launch a new meme coin (TST) in a video tutorial. The ex-employee retained access to the wallet’s seed phrase and generated new keys after departing the company. BNB Chain stated it had no involvement in the token’s launch or any activities related to the wallet. The same address is now associated with another meme coin, ASTEROID, on the BNB Chain. The company is collaborating with authorities to address the matter.

ChainCatcher report: BNB Chain posted on X that a wallet address was previously created by a former employee and used by them to issue 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 employee retained unauthorized access to the associated seed phrase and used it to generate new private keys. BNB Chain has now learned that the same address is being independently used in connection with a new meme token (ASTEROID 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 activities are unrelated to BNB Chain and have not been endorsed by BNB Chain. BNB Chain is taking legal action against the former employee and is cooperating with relevant government agencies on this matter.

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