The Block reported on Friday that BNB Chain said it has begun legal action against a former employee accused of launching a new meme coin, Asteroid Shiba (ASTEROID), using a wallet created for company tutorials and taking profits.

BNB Chain said on X on Friday that the employee had retained unauthorised access rights to the seed phrase for a wallet used for video tutorials, the report said. As a result of the incident, the person is no longer with the company. BNB Chain added that it is taking legal action against the former employee and cooperating with relevant authorities.

Binance founder and former CEO Changpeng Zhao (자오창펑), known as CZ, called the employee effectively a scammer and urged users to pay attention to safety.

The wallet at issue was originally used in February 2025 to launch the test token TST featured in a BNB Chain video tutorial. The tutorial briefly exposed the token name, and speculative trading poured into TST after Zhao posted about it. Its market capitalisation exceeded $50 million even after both Binance and BNB Chain said they had never officially endorsed it.

The token launched from the tutorial wallet appears to mimic an existing project of the same name, Asteroid Shiba. The existing project team said in a post on X that the new token is an imitation launched via Flap with the same reward model and is unrelated to the token issued from the former employee's wallet.

BNB Chain did not disclose what specific legal action it is taking or in which jurisdiction.