- GoPlus Security warns that the owner of STAR10 can burn any holder’s tokens.
- CZ of Binance states that Binance has no commercial ties to Ronaldinho or the token.
- Ronaldinho promotes STAR10, but traders are urged to exercise caution.
GoPlus Security has put out an alert about Ronaldinho’s STAR10 coin, saying there are serious dangers for investors.
The security firm states that the token’s owner has the ability to burn any holder’s tokens at will. Since ownership has not been renounced, GoPlus believes all tokens remain vulnerable to being destroyed without warning.
However, GoPlus urged the Ronaldinho Coin team to renounce ownership immediately to protect investors. The firm also advised traders to exercise extreme caution when dealing with STAR10.
CZ & Binance Distance Away from STAR10 Coin
Meanwhile, Binance co-founder Changpeng ‘CZ’ Zhao addressed the situation, clarifying that STAR10 was launched exclusively on BNB Chain.
Despite CZ being a big fan of Ronaldinho, Binance has no business connection with Ronaldinho or his token. He also cautioned that meme coins are very unpredictable, and trading activity has dropped significantly recently.
Related: Coinbase CEO Sounds Alarm on Memecoin Market Scams
Binance CZ: ‘This is NOT an Endorsement’ of STAR10
“This post is NOT an endorsement,” CZ stated, emphasizing that his comments were a security reminder rather than support for the token. He also warned users to beware of fake versions of STAR10 on other blockchains.
Ronaldinho Promotes STAR10 Despite Centralization Concerns
The two-time FIFA best player and Ballon d’Or winner recently promoted STAR10 on social media. He took to X to celebrate the token’s ranking on DEX Screener and encouraged users to invest.
His post used hype-driven language, comparing the token’s rise to scoring a goal and urging followers to “lock in” before it’s too late.
Related: Central African Republic’s CAR Memecoin Launch Marred by Deepfake Claims & Suspended Domain
Even with the excitement, worries about centralization remain. The contract owner still has total control over the token. While STAR10 has gained traction, the ability to manipulate balances and burn tokens raises serious red flags for investors.
With Binance distancing itself and security experts flagging risks, STAR10 faces scrutiny. Experts warn investors to remain cautious, as ownership remains in the hands of a single entity.
History of Failed Celebrity Crypto Tokens
A commenter responded to Ronaldinho’s promotion of his STAR10 token by sharing an image highlighting the failures of past celebrity-backed crypto projects.
The image lists NFTs and tokens endorsed by stars like Shaquille O’Neal, Floyd Mayweather, and Kim Kardashian, most of which either collapsed, were abandoned, or were labeled as scams.
The commenter suggested that STAR10 may likely follow the same pattern. By referencing the history of failed celebrity memecoins, the reply serves as a cautionary reminder to potential investors.
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