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Believe Founder Ben Pasternak Accused of Extracting $54M in Fees Through Launchcoin Migration

GateNews
Token EventsEnforcement ActionsSecurity Incidents
BELIEVE-4.35%

Gate News message, April 29 — A class-action lawsuit alleges that Believe founder Ben Pasternak extracted $54 million in fees through a Launchcoin migration process, according to ChainCatcher. The suit claims the migration included a two-week window period that resulted in token holder dilution, while tokens missing the deadline were permanently destroyed.

The allegations further state that the operations involved wallets associated with insiders, raising concerns about potential conflicts of interest in the token migration process.

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