The latest celebrity-backed crypto token, $STAR10, linked to former football star Ronaldo de Assis Moreira (Ronaldinho Gaúcho), is drawing attention amid concerns of a potential rug pull. Blockchain analytics platform Onchain Lens recently revealed that an insider from the $STAR10 project made a profit of $4.94 million.
Ronaldinho’s $STAR10: Another Rug Pull in the Making?
According to Onchain Lens, the insider purchased 20.79 million $STAR10 tokens for 48 BNB (approximately $29,247) and has since sold 119,278 tokens for 54 BNB ($33,106).
The insider still holds 20.68 million $STAR10 tokens, currently valued at $4.93 million. The address associated with these transactions is 0x4c25af8cb1c34441fc17550df8e16ec953cf12e0.
While the significant profit by an insider raises concerns, Ronaldinho has taken to social media to address the liquidity of the $STAR10 token. In a post on X (formerly Twitter), he assured users that the liquidity is locked for 30 days, with the possibility of an extension, stating, “Here, we play it safe.”
However, $STAR10 has faced criticism from the crypto community for lacking clear tokenomics or a roadmap. The project’s lack of transparency has reignited skepticism, particularly following the recent $LIBRA rug pull incident. Note that over 86% of investors i.e., more than 10,000 crypto accounts, lost $251 million after $LIBRA, endorsed by Argentine President Javier Milei, collapsed.
Also Read: BNB Projects Four.meme, MyShell, and Bacon Protocol Unite to Donate to $LIBRA Victims
