Ronaldinho Launches His Official Token, STAR10, Shortly After Insider Wallets Appear to Be Profiting

On March 3, Ronaldinho announced the launch of his official token, dubbed STAR10. Shortly after, on-chain data alludes to insider wallets making profit from it.

Former Brazilian football player, Ronaldinho Gaúcho has launched his official token, STAR10. Shortly after, on-chain data alludes to insider wallets making profit from it.

On March 3, Ronaldinho announced the launch of his official token, which is named STAR10. According to the former football player, the Binance Smart Chain-based token will offer users several benefits, such as signed collectibles and access to an AI Agent.

“Legends are not born… THEY ARE FORGED. And YOU can choose to be a part of it. Get your $STAR10 NOW. Let’s make history together!” he stated.

My new one and ONLY OFFICIAL token is HERE! It’s time to celebrate greatness, passion, and that legendary spirit that NEVER fades Legends are not born… THEY ARE FORGED. And YOU can choose to be a part of it. Get your $STAR10 NOW. Let’s make history together!… pic.twitter.com/91KbaXVmgS

However, on-chain data from Nansen has shown that an insider wallet linked to Ronaldinho has profited off the new token launch, making as much as $4.95 million.

According to Onchain Lens, the insider bought 20.79 million STAR10 tokens for 48 BNB (BNB) or equal to $29,247. The insider has sold 119,278 $STAR10 for 54 $BNB ($33,106). The insider still holds 20.68M $STAR10, valued at $4.93M.

Many traders on X have remained skeptical of the football star’s token. Some are claiming that “celebrity tokens are dead” and others were quick to bring up Ronaldinho’s past controversies regarding previous crypto projects.

Ronaldinho’s past crypto controversies

Back in June 2024, Ronaldinho had hinted at a possible return to the crypto space. He posted that he believed it was time for crypto to “go mainstream” and asked his followers to join him.

But crypto sleuth ZachXBT wasn’t sold on the idea, pointing out the former footballer’s past involvement in a controversial crypto project which resulted in multiple pump-and-dump schemes.

At the time, Ronaldinho was an ambassador for Atari Chain, which was later found to be a scam project. He was also the face of World Cup Inu, another token that was quickly abandoned by its creators.

In addition, Ronaldinho has promoted various other crypto projects in the past, including Lord Society NFT and well-known meme coins WATER and Baby Doge. Fellow football legend Lionel Messi also joined Ronaldinho in promoting WATER.

Earlier this year, Ronaldinho’s name was embroiled in scandal after he was accused of being linked to a crypto project called “18kRonaldinho,” which allegedly involved a pyramid scheme.

The athlete immediately denied those accusations, stating that his likeness was used without his permission to promote the coins. The project falsely advertised daily returns of 2% on crypto investments, using the football star’s name and image to bolster credibility.