The token STAR10, launched by Brazilian football legend Ronaldinho Gaúcho, quickly attracted market attention but soon faced community skepticism, with a cybersecurity firm even revealing risks associated with the token contract shortly after its release.
**Ronaldinho’s STAR10 Token**
On Monday, Ronaldinho announced the issuance of his exclusive official token, STAR10, through his social media account. He described it not merely as a token but as a “legend in the making,” offering holders the opportunity to participate in exclusive experiences (such as private events), rare collectibles (like signed jerseys), and other rewards. According to information on the official website, STAR10 is issued on the BNB Chain with a total supply of 1 billion tokens, of which 20% is owned by Ronaldinho, 15% by the team, 20% for public distribution, 25% for liquidity, 15% for marketing and operations, and 5% allocated to centralized exchanges (CEX).
The price of the STAR10 token surged shortly after its launch, rising from under $0.01 to $0.30, with its market capitalization reaching $300 million at one point. However, the enthusiasm for STAR10 quickly waned after the community raised concerns about its security and market manipulation, leading to significant price volatility; by the time of publication, its trading price was approximately $0.288.
**Concerns Over Potential Manipulation**
According to on-chain data tracking platform Onchain Lens, a wallet holder suspected to be linked to Ronaldinho purchased 20.79 million STAR10 tokens shortly after the token’s issuance for 48 BNB (approximately $29,247) and subsequently sold them off as the price surged, with unrealized profits reaching as high as $4.94 million. The copy trading platform lmk.fun pointed out that the $STAR10 team initially controlled 80% of the token supply, and the issuance was flooded with “early snipers” (those who purchase large amounts of tokens at the time of release). “These addresses bought at least 18% of the tokens within the first minute, and they are currently offloading in large quantities.”
These revelations have raised concerns regarding the potential manipulation by the STAR10 team, with many investors worried that this could be yet another pump-and-dump scheme. One X user commented, “Here we go again. If you remember MELANIA, CAR, LIBRA, you should understand what I’m talking about.”
On the other hand, cybersecurity firm GoPlus warned of serious security risks associated with STAR10, stating that the token contract’s owner could arbitrarily destroy any holder’s tokens. Shortly thereafter, GoPlus indicated that ownership of the contract had been relinquished and that there were no longer risks at the smart contract level. The STAR10 team also responded to the security controversy regarding the STAR10 token through Ronaldinho’s X account, stating that contract ownership has been abandoned and that tokens would not be destroyed without warning.
