Brazilian football icon Ronaldinho’s launch of his official crypto token, $STAR10, on the BNB chain has stirred controversy, particularly regarding security concerns raised by Binance’s Changpeng Zhao (CZ). The altercation between the two figures unfolded on X after CZ warned users about potential security loopholes within the token, leading to a heated exchange.
The $STAR10 token, designed to merge football, Web3 technology, and fan engagement, promises fans a chance to participate in exclusive challenges, rewards, and surprises worldwide. Ronaldinho enthusiastically announced the launch on X, saying, “It’s time to celebrate greatness, passion, and that legendary spirit that NEVER fades. Legends are not born… THEY ARE FORGED. Get your $STAR10 NOW and let’s make history together.”
Despite its initial success, the token quickly became embroiled in controversy when it was revealed that the smart contract included a feature that allowed developers to reclaim user balances and even destroy tokens. Raquel Gonzalez of GoPlus Security described this vulnerability as critical, noting that it compromised the decentralized nature of the token by granting developers complete control over user assets. This security flaw was further highlighted by CZ, who took to X to clarify that he was not endorsing the $STAR10 token.
Security experts raised alarms about the dangerous flaw in the token’s smart contract, which granted its developers the power to destroy any tokens owned by users, essentially leaving token holders vulnerable to the loss of their assets.
In response, Ronaldinho’s official account assured that security remained a top priority for the STAR10 project. GoPlus Security later confirmed that the issue was resolved after the developers renounced ownership of the token. The smart contract was updated to ensure safety, with ownership permanently surrendered, eliminating the risk of unauthorized token destruction.
Despite the resolution, the incident has cast a spotlight on the potential risks associated with new crypto projects, particularly those linked to high-profile figures.
Related topics:
ConsenSys and SEC Reach Settlement to Dismiss MetaMask Lawsuit
Pi Coin Surges 80% to $2.98: Will It Hit $3? Live Price Update
