Former BNB Chain Employee Faces Legal Action for Issuing Meme Coin with Test Wallet
BNB Chain officially stated that a former employee created a wallet address to issue the Meme coin TST as part of a video tutorial, which led to the employee's departure.
After leaving, the employee retained unauthorized access to the seed phrase and generated a new private key. The same address is now independently used for activities related to the new Meme coin ASTEROID on BNB Chain. BNB Chain did not create, authorize, promote, or participate in the issuance of this token, has no control over the token or wallet, and is unrelated to or unrecognized by BNB Chain. BNB Chain is taking legal action against the former employee and cooperating with relevant government agencies.
The former employee used residual access to issue the new token, with funds from the new token issuance flowing into market trading; the incident was driven by internal access control lapses, benefiting early ASTEROID traders while putting pressure on BNB Chain's reputation and investor trust.
Source: Public Information
ABAB AI Insight
BNB Chain previously had an employee who issued TST using a test wallet in a tutorial, drawing market attention and resulting in the departure of related personnel; similar cases of internal personnel using residual access for on-chain operations have also occurred in other public chains and projects, exposing vulnerabilities in the recovery of departure permissions.
The company has publicly stated its disassociation and initiated legal proceedings, motivated by the need to prevent reputational ties and potential regulatory risks; the funding path indicates that the former employee may gain short-term profits through the new token, similar to historical patterns where project parties or internal personnel quickly profited from issuing related Meme coins.
This incident is similar to token disputes arising from permission issues with former employees or contractors in other blockchain projects; the current Meme coin ecosystem is in a phase of high speculation and low barrier to entry, making internal control a key factor for trust.
Essentially, this reflects regulatory changes and trust reconstruction: residual permissions leading to unauthorized issuance compel project parties to strengthen departure audits and legal accountability, accelerating the transition from lax internal management to strict compliance controls.
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