Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Expert Highlights 7 Reasons Why ASTER Is Following the ‘Crime-Ponzi Playbook’

Expert Highlights 7 Reasons Why ASTER Is Following the ‘Crime-Ponzi Playbook’

BeInCryptoBeInCrypto2025/09/25 04:59
By:Kamina Bashir

Aster’s meteoric rise has drawn celebrity backing and whale accumulation, yet experts accuse the project of Ponzi-style tactics. With price momentum clashing against skepticism, ASTER faces a critical test of sustainability.

Aster (ASTER), a decentralized perpetuals exchange, has been making headlines with its surging trading volume and rapid price growth. It has even secured the top spot as the most trending coin on CoinGecko today.

However, its rise has not been without criticism, with one expert accusing the project of following a ‘crime-ponzi playbook.’

Is Aster (ASTER) a Scam?

The ASTER token had its token generation event (TGE) this month, attracting early support from Binance founder Changpeng Zhao. Since its debut, it has posted impressive gains, climbing to an all-time high of $2.41 yesterday.

The Aster platform has emerged as one of the top six decentralized exchanges by trading volume, surpassing Hyperliquid.

Despite the impressive growth, not everyone is convinced of Aster’s potential. In a detailed post on X (formerly Twitter), Simon Dedic, founder of Mooonrock Capital, outlined several reasons for doubting Aster.

“ASTER is following the crime-ponzi playbook to perfection,” Dedic wrote.

Dedic’s analysis identifies seven key steps he claims mirror the tactics of a Ponzi scheme. First, argued that Aster’s product is not fundamentally new, but rather a copy of existing decentralized exchange models with proven market fit. 

Second, Dedic alleged that the project distributed a significant portion of its token supply to influential Key Opinion Leaders (KOLs) and insider groups. This was done to generate hype and secure buy pressure. 

Third, Dedic suggested that with the product itself offering little uniqueness, Aster relies on aggressive wash trading to make the platform appear more competitive than it is.

Fourth, Dedic says that the team launched the token, keeping most of the supply with itself.

“Once attention is secured, move to TGE. Launch the token while keeping most of the supply, giving you control over sell pressure. Pump the token hard with coordinated market maker strategies and the cabals you onboarded early,” he added.

The fifth step involves leveraging price momentum to drive narrative and further price increases. According to him, this is a common tactic in crypto where rising charts bolster legitimacy. Sixth, Dedic warned of an inevitable hype plateau, raising questions about sustainability. 

“Every Ponzi has a ceiling. Eventually the hype plateaus, interest fades, and the big question becomes: what’s next?” the executive noted.

Finally, he predicted that Aster may plan the launch of its own Layer 1 blockchain as a move to sustain interest, a strategy he deems unnecessary but effective in extending the cycle.

Joshua Tobkin, Co-founder and CEO of Supra, supports this skepticism by asserting that Aster operates more like a centralized exchange (CEX). This critique challenges the project’s decentralized credentials, a cornerstone of its appeal. 

“Aster isn’t even a blockchain. At least there is transparency in the matching engine on HyperLiquid so you know the application is following its rules. Aster appears literally to be a CEX,” Tobkin commented.

Despite these allegations, whales continue to buy ASTER. Lookonchain reported that an investor (0xFB3B) pulled 50 million ASTER worth $114.5 million from Gate.io over the previous two days.

Furthermore, the blockchain analytics firm highlighted that 15 wallets — likely controlled by the same whale — withdrew 68.25 million ASTER valued at around $156.3 million from the exchange just four days ago. 

“Two whales recently accumulated 118.25 million ASTER ($270.8 million), 7.13% of the circulating supply,” the post read.

Another whale, identified as wallet 0x5bd4, withdrew 1.56 million ASTER (valued at $3.57 million) from Bybit. The address now holds 8.28 million ASTER, worth approximately $16.98 million.

Thus, as the criticism piles up, whales remain undeterred. This divergence highlights the contrast between skeptics who see red flags and deep-pocketed investors who appear confident — or opportunistic — in betting that momentum will outweigh concerns, at least for now.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Wattlet officially debuts: Making electricity a global digital asset

Wattlet's vision is to make electricity not just a consumed energy, but a digital asset that can be held, allocated, and traded.

ForesightNews2025/09/26 10:37
Wattlet officially debuts: Making electricity a global digital asset