BNB Chain has initiated legal proceedings against a former employee who used unauthorized access to a seed phrase to create a malicious token. The individual deployed a token called ASTEROID, then used 4 newly created wallets to purchase 796.7 million ASTEROID, representing 79.67% of the total supply, for $10,000. He then sold 718.8 million of these tokens for 1,103 BNB, equivalent to $638,000, generating an estimated profit of $628,000. The former employee is no longer with the company following this incident. Changpeng Zhao commented on the matter, calling the individual essentially a scammer.
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