Believe Founder Accused of Siphoning $54 Million in Fees Through Launchcoin Migration

Odaily reports that a class-action lawsuit accuses Believe founder Ben Pasternak of siphoning $54 million in fees through the Launchcoin migration. The lawsuit alleges that the migration process included a two-week window, resulting in dilution of holders' tokens and permanent destruction of tokens that missed the deadline. Additionally, the related operations are alleged to involve insider-linked wallets.