Celebrities are not sending coins well? Ronaldinho's coin issuance suffers trust collapse

Author: Frank, PANews

Since Trump, it seems that the issuance of coins by celebrities has become a new business story. On March 2, well-known retired football superstar Ronaldinho also announced the launch of his personal token $STAR10 on the BSC chain. Under the market downturn, although the circulation market value reached a maximum of US$32 million, it is still far from the expected rush to buy. On the contrary, many conspiracy theories about this token were exposed on social media. A Shenzhen coin issuing team has not locked its capital pool, the coin authority has not been discarded, and insiders have rushed forward in advance and other scandal news has followed one after another. Even Binance founder CZ, who forwarded the online information, was once caught in the siege of users. Is this business story of celebrity coins is really a one-way harvest code to get rich?

Football genius became a tool for harvesting? Professional team trading

suspicion

Ronaldinho, once hailed as the most talented Brazilian football star of all time, is generally called Ronaldo. He was loved by fans in his career and was once named a football elf. However, he became famous at a young age and lacked self-discipline. After sensuality and sex, he ruined his career, and then spent money like money, and went bankrupt and used his fame to make money. Like many talented athletes from poor backgrounds, Ronaldo unfortunately chose such a script.

After trying a variety of ways to make money, the rapid harvesting ability of the crypto industry seems to have become his better choice.

On February 22, Ronaldo posted on Twitter that "Cryptocurrency looks good here" and began to preview his token issuance plan. But with the continued downturn in the crypto market, the final token was officially launched ten days later.

During these ten days, the crypto market has experienced a sharp decline. The previously hot Solana chain has also shown a decline, and the BSC chain is trying to become a new MEME hot spot in the frequent interactions of CZ. From Ronaldo's final choice, it can be seen that behind him, there may be a team who is well versed in the laws of changes in the crypto market to give him advice.

On February 28, Twitter user @R10coin_ broke the news that behind Ronaldo's coin issuing a coin in Shenzhen, and the whistleblower claimed to be another company that specializes in issuing tokens. He first negotiated a $6 million cooperation agreement with Ronaldo to jointly issue tokens. Later, another Shenzhen coin issuing team intercepted the slander for $10 million, so they chose to expose the matter. And posted some email information and Luo Luo’s signature documents. The community generally believes that this is just a farce of black tying, but people seem to be accustomed to this kind of insider trading. Previously, President Mile's farce of issuing coins also exposed the inside story of these coin issuing coins to the public. As of March 4, the user's Twitter account has been blocked.

Since the user has not released more substantial insider information, there is still no way to know the content of the team behind Luo Luo’s issuance of coins. According to PANews survey, the official website domain name of the $STAR10 token is hosted by the well-known domain name service provider GoDaddy, and there are two IP addresses deployed. These two IPs are back-queried from Amazon cloud servers. This IP has parsed more than 80,000 domain names, so it cannot be proved to be controlled by the same person.

However, it is interesting that in the IP resolution list, another well-known MEME currency PNUT official website address appeared. PNUT is also one of the MEME coins launched on Binance Exchange last year. However, judging from the existing evidence link, there is no direct evidence that the conspiracy groups mentioned on social media are behind the issuance of $STAR10.

Contract hidden mystery: backdoor permission triggers a crisis of trust

However, during the token issuance process, people still seem to feel the dishonestness of the issuance of $STAR10 tokens. According to GoPlus Security monitoring, the contract owner of the $STAR10 token still retains the authority to destroy the token, and the time limit for the fund pool to lock the position is only one month.

This reserved backdoor operation makes many users think that the project party is preparing for harvesting. This has triggered collective controversy on social media. Binance founder CZ first forwarded Ronaldo's tweet without paying attention to this loophole, saying that this move is not an endorsement, but thanked him for choosing to launch it on BNB Chain, but then it was collectively condemned by users.

However, perhaps due to pressure from the community, Ronaldo's team later stated on Twitter that they had given up their coin minting rights and extended the lock-up period from 255 to 2281.

However, this kind of compensation for the loss seems to have not been recognized by the community. As of March 4, the token chain had about 9,500 coin addresses, which was far from TRUMP's 640,000, and not as good as LIBRA's 27,000 addresses.

The rat's trading profit is 282 times, and is it the internal players who

make an advance arrangement?

In addition, rat warehouse is also one of the routines that celebrities often report to issue coins. Similar signs have also appeared in the issuance of $STAR10. According to Onchain Lens, an insider purchased 20 million $STAR10 tokens for 49 BNBs (worth $29,000) before the token issuance. As of March 4, the address had sold $350,000 in tokens and still held more than $2.6 million in tokens.

According to PANews calculations, the average cost of the user is about $0.0014, with an increase of about 282 times to its highest point, and the maximum holding value can reach $8.26 million, almost a quarter of the market value of the circulation. What is even more suspicious is that Ronaldo’s Twitter coin is UTC time, at 22:17 on March 2, and the buying time for this address is 22:17:08. This time was even earlier than Ronaldo's release time. How did players who don’t know this address choose to invest $29,000 to bet without confirming the source of the token? After penetration, PANews discovered that the initial funding of the address came from Binance Hot Wallet.

Overall, Ronaldo's issuance of coins this time seems to be another failure. Similarly, NBA legendary star Scott Pippen, who launched his token in August last year, had a market value of $BALL, with about 1,400 holders, and a 24-hour trading volume of $2,300, and a total of 5 transactions. It can be said to be a mess.

LIBRA and MELANIA, which were turbulent in the city some time ago, were also revealed to be the work of conspiracy groups. People seem to have become used to this harvesting routine and no longer blindly pay. As of March 4, the market value of $STAR10 was only $11.5 million, with a 66% drop in the highest point.

From an investment perspective, the celebrity tokens so far have almost been "destroyed", and for celebrities who are trying to quickly monetize coins through cryptocurrencies, this harvesting model of fishing out of stocks seems to be unsustainable.