Ronaldinho's $STAR10: Another Rug Pull in the Making?

The latest celebrity-backed crypto token, $STAR10, linked to former football star Ronaldo de Assis Moreira (Ronaldinho Gaúcho), is drawing attention amid concerns of a potential rug pull.

A crypto token linked to former football star Ronaldo de Assis Moreira (Ronaldinho Gaúcho) is making headlines again, this time amid concerns over a potential rug pull.

The latest celebrity-backed crypto token, $STAR10, is being closely watched by blockchain analytics platform Onchain Lens. According to Onchain Lens, an insider from the $STAR10 project has made a profit of $4.94 million.

The insider purchased 20.79 million $STAR10 tokens for 48 BNB (approximately $29,247) and has since sold 119,278 tokens for 54 BNB ($33,106). The insider still holds 20.68 million $STAR10 tokens, currently valued at $4.93 million. The address associated with these transactions is 0x4c25af8cb1c34441fc17550df8e16ec953cf12e0.

This insider on @10Ronaldinho has made a profit of $4.94M.

This insider spent 48 $BNB ($29,247) to buy 20.79M $STAR10.

So far, the insider has sold 119,278 $STAR10 for 54 $BNB ($33,106). The insider still holds 20.68M $STAR10, valued at $4.93M.

Address:... pic.twitter.com/0h6BnxYLfz

— Onchain Lens (@OnchainLens) March 3, 2025

While the significant profit by an insider is noteworthy, Ronaldinho has taken to social media to address the liquidity of the $STAR10 token. In a post on X (formerly Twitter), he assured users that the liquidity is locked for 30 days, with the possibility of an extension, stating, “Here, we play it safe.”

The $STAR10 token has faced criticism from the crypto community for a lack of clear tokenomics or a roadmap.

Moreover, the project’s lack of transparency has also fueled skepticism, especially following the recent $LIBRA incident, which saw a complete collapse after President Javier Milei announced his departure from the project. In the aftermath of $LIBRA’s downfall, over 86% of investors (more than 10,000 crypto accounts) lost a collective $251 million.