Brazilian football legend Ronaldinho recently launched his crypto token ”$STAR10” on BNB chain, that soon engulfed in a controversy with Binance’s CZ warning users about alleged security loopholes in the coin project, that then prompted a brick-batting session between the two personalities on X.
STAR10 is Ronaldinho’s official crypto token, blending football, Web3 tech, and fan fun. It’s not just a coin, it’s a ticket for fans to unlock cool challenges, rewards, and special surprises worldwide.
“My new one and ONLY OFFICIAL token is HERE! It’s time to celebrate greatness, passion, and that legendary spirit that NEVER fades. Legends are not born… THEY ARE FROGED. And YOU can choose to be a part of it. Get your $STAR10 NOW. Let’s make history together,” said Ronaldinho in a tweet on X.
While $Star10 initially performed well, it also created chaos within the crypto industry. Shortly after its release, it raised alarms because developers could use a feature in its smart contract to reclaim user balances and destroy tokens.
Raquel Gonzalez of GoPlus Security declared this issue critical because the capability weakens decentralized ownership fundamentals by providing token issuers complete authority over holder assets. His views were supported by Changpeng Zhao, founder of Binance, on X, wherein he cleared that he is not endorsing the coin.
Security experts identify the STAR10 token from Ronaldinho as containing a dangerous security weakness. The owner of GoPlus possesses unrestricted authority to incinerate any token which belongs to token holders. Because ownership has not been renounced there is a risk that any token may be destroyed without prior warning to its owners.
The official handle of Ronaldinho also replied to the tweet by CZ claiming that security is a priority at STAR10 project.
Later, GoPlus Security confirmed that the STAR10 token developers under Ronaldinho resolved the problem through ownership renunciation. The smart contract is now safe because the developers permanently surrendered their control through the renouncement of ownership according to GoPlus Security.
