Believe project sued by law firm, tokens plummeted from $120 million to $10 million

2025-12-25 05:00:09

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【Crypto World】A project is about to face a major incident. Believe and its founder Ben Pasternak are facing a lawsuit from the US law firm Burwick Law, which has opened a registration channel for affected users. Just look at how dire the current situation is: the token has plummeted from a peak of $120 million to $10.15 million, with daily trading volume dropping to only $195,400, and liquidity severely depleted.

The project itself has issues. After rebranding from Launchcoin to Believe in October this year, they also significantly adjusted the economic model. During the upgrade, they set the total token supply at 1.33 billion, a 25% increase from before. Although old tokens can be exchanged 1:1 for new ones, this kind of inflationary upgrade often triggers selling pressure. Now, with the lawsuit, confidence has completely collapsed.

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rugdoc.eth

· 9h ago

It's the same old trick again—renaming and issuing more tokens. I knew it wouldn't be good news.

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LiquidityHunter

· 9h ago

It's the same old trick again—renaming and issuing more tokens. Once this combo punch is unleashed, there's no hope.

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PessimisticOracle

· 9h ago

Changing names again, issuing more tokens, and lawsuits—I'm tired of this routine.

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AmateurDAOWatcher

· 9h ago

Another big scam, Believe has completely messed up this round This kind of secretly issuing additional tokens... is truly incredible How are the brothers and sisters who are trapped doing? Are you registering? Lawsuits + dumping, a double kill Ben Pasternak must be paying a lot, right? Trying to fool everyone with a 25% increase, caught red-handed by the law firm Liquidity directly evaporated, a typical project team suicide operation I had a feeling this project was suspicious before, and sure enough...

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