Blockchain security firm GoPlus has issued a serious security warning about the STAR10 token launched by former football star Ronaldinho, citing critical vulnerabilities that put investors at risk.
Security Warning: GoPlus Says Ronaldinho's STAR10 Token Poses Major Risks
According to GoPlus’ analysis, the contract owner retains full control, allowing them to:
- It can burn any owner's tokens, effectively wiping out investments.
- It can print new tokens at any time, potentially leading to inflation and devaluation.
- It can drain user funds by increasing transaction taxes.
- It can restrict certain traders from trading by blacklisting wallets.
Crucially, ownership of the contract has not been relinquished, meaning the token creator still has unlimited authority over STAR10’s operations.
Attention Investors
These centralized controls pose a great danger because 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.
While celebrity-endorsed tokens often attract a lot of attention from investors, security experts emphasize the importance of conducting thorough due diligence before investing in any cryptocurrency project.
At the time of writing, Ronaldinho has not publicly acknowledged these security concerns regarding STAR10.
*This is not investment advice.
