byc is also a Ponzi scheme, purely for show.
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春江花朝秋月夜
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$ASTER Zhuang Gu, I Am Impressed
In September 2025, Simon Dedic, the founder of the cryptocurrency fund Mooonrock Capital, published a lengthy article with a very direct title: "ASTER Perfectly Follows the Script of a Criminal-style Ponzi Scheme."
He listed seven points of doubt, and I'll highlight a few key ones for you:
· No Innovation in the Product: ASTER merely copied the model of other decentralized exchanges, with no real technological innovation.
· Token Allocation to Insiders: A large number of tokens were distributed to KOLs and internal groups, creating false hype.
· Manipulating Trading Volume through Wash Trading: Because the product itself is lacking, they rely on wash trading to make the platform appear lively.
· The Team Controls Most of the Supply: When issuing tokens, they keep most of the chips for themselves, deciding when to pump or dump.
Foresight News's in-depth investigation also confirmed this: Daily trading volume surged 20 times within 7 days, and open contracts skyrocketed 33 times; such growth cannot possibly be natural and can only be manipulated.
3. So why hasn’t it been investigated yet?
You might ask: It’s so obvious, don’t the regulators care?
Because ASTER cleverly wears the protective color of "decentralization."
· It operates on-chain, appearing to be "permissionless and borderless"
· Its contracts are written in code, with no legal entity of a traditional company
· It can navigate between different jurisdictions
It’s like a casino operating in international waters; everyone knows there are tricks inside, but enforcing the law requires multinational coordination, technical evidence collection, and clear legal definitions.
The current situation is: The industry data platform (DefiLlama) has already blacklisted it, industry experts (Simon Dedic) have publicly accused it of being a Ponzi, but regulatory agencies (SEC, Department of Justice) have yet to take action.
In September 2025, Simon Dedic, the founder of the cryptocurrency fund Mooonrock Capital, published a lengthy article with a very direct title: "ASTER Perfectly Follows the Script of a Criminal-style Ponzi Scheme."
He listed seven points of doubt, and I'll highlight a few key ones for you:
· No Innovation in the Product: ASTER merely copied the model of other decentralized exchanges, with no real technological innovation.
· Token Allocation to Insiders: A large number of tokens were distributed to KOLs and internal groups, creating false hype.
· Manipulating Trading Volume through Wash Trading: Because the product itself is lacking, they rely on wash trading to make the platform appear lively.
· The Team Controls Most of the Supply: When issuing tokens, they keep most of the chips for themselves, deciding when to pump or dump.
Foresight News's in-depth investigation also confirmed this: Daily trading volume surged 20 times within 7 days, and open contracts skyrocketed 33 times; such growth cannot possibly be natural and can only be manipulated.
3. So why hasn’t it been investigated yet?
You might ask: It’s so obvious, don’t the regulators care?
Because ASTER cleverly wears the protective color of "decentralization."
· It operates on-chain, appearing to be "permissionless and borderless"
· Its contracts are written in code, with no legal entity of a traditional company
· It can navigate between different jurisdictions
It’s like a casino operating in international waters; everyone knows there are tricks inside, but enforcing the law requires multinational coordination, technical evidence collection, and clear legal definitions.
The current situation is: The industry data platform (DefiLlama) has already blacklisted it, industry experts (Simon Dedic) have publicly accused it of being a Ponzi, but regulatory agencies (SEC, Department of Justice) have yet to take action.