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Believe Founder Ben Pasternak Accused of Extracting $54M in Fees Through Launchcoin Migration

Token Events Enforcement Actions Security Incidents

2026-04-29 02:19:28

Gate News message, April 29 — A class-action lawsuit alleges that Believe founder Ben Pasternak extracted $54 million in fees through a Launchcoin migration process, according to ChainCatcher. The suit claims the migration included a two-week window period that resulted in token holder dilution, while tokens missing the deadline were permanently destroyed.

The allegations further state that the operations involved wallets associated with insiders, raising concerns about potential conflicts of interest in the token migration process.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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