Blockchain security firm GoPlus has issued a serious security warning about the STAR10 token launched by former football star Ronaldinho. These vulnerabilities may put investors at risk.
Security Warning from GoPlus
According to GoPlus’ analysis, the STAR10 contract owner retains full control, allowing them to:
- Burn any owner's tokens, effectively wiping out investments. - Print new tokens at any time, potentially leading to inflation and devaluation. - Drain user funds by increasing transaction taxes. - Restrict certain traders from trading by blacklisting wallets.
Importantly, ownership of the contract has not been relinquished, which means the token creator still holds unlimited authority over STAR10’s operations.
Impact on Investors
These centralized controls pose a great danger, as they give the contract owner extensive power over the token supply and investor assets. The ability to manipulate the contract can lead to significant financial losses for owners.
Ronaldinho's Response
At the time of writing, Ronaldinho has not publicly acknowledged these security concerns regarding STAR10.
Celebrity-endorsed tokens often attract a lot of attention from investors, but security experts emphasize the importance of conducting thorough due diligence before investing.
