The founder of Believe is accused of siphoning off $54 million in fees through the migration of Launchcoin

A class action lawsuit accuses Believe founder Ben Pasternak of extracting $54 million in fees through the migration of Launchcoin. The lawsuit claims that the migration process had a two-week window, which led to the dilution of holders' tokens, and tokens that missed the deadline were permanently destroyed. Additionally, the related operations are alleged to involve insider-associated wallets.