Crypto Cowboy Rides Off with $54M, Leaves Investors in the Dust

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In the dusty plains of the digital frontier, a tale unfolds-a tale of greed, tokens, and a young gunslinger named Ben Pasternak. The sheriff’s office, in the form of a class action lawsuit, has slapped the cuffs on ol’ Ben, accusing him of rustling $54 million in fees while his investors were left chewing on the bitter grass of loss. And let’s just say, this ain’t no ordinary cattle drive.

  • The plaintiffs, with eyes sharp as a hawk’s, claim Ben and his gang of associated entities lassoed themselves a cool $54M in fees across the Believe platform tokens. That’s enough to buy a whole town-or at least a few fancy saloons.
  • Court papers, yellowed like an old wanted poster, reveal a token migration that bloated the supply by 33.3%. Those who missed the two-week deadline? Their tokens were burned faster than a liar’s reputation in a small town.
  • Meanwhile, in another courtroom drama, Ben’s pleading not guilty to assault charges tied to a fracas at the Baccarat Hotel. Seems like this crypto cowboy can’t stay out of trouble, whether it’s in the digital Wild West or the streets of New York.

According to the complaint, filed in the U.S. District Court for the Southern District of New York, Joshua Lee and Pierre Montmeas are the deputies leading the charge. They claim Ben and his posse-B24, Inc. and the Believe Foundation-rode roughshod over investors with token launches and migrations that filled their saddlebags while leaving others in the red.

The Believe platform, they say, processed nearly $6 billion in trading volume, raking in $54 million in fees from tokens with names like $PASTERNAK, $LAUNCHCOIN, and $BELIEVE. That’s a lot of gold, even for a high-flyin’ crypto cowboy.

The Great Token Migration: A Tale of Dilution and Deadlines

The heart of the dispute? An October 2025 migration from $LAUNCHCOIN to $BELIEVE. The plaintiffs claim the token supply swelled from 1 billion to over 1.33 billion, diluting existing holders by 33.3%. That’s like adding water to the whiskey-nobody likes watered-down whiskey.

And the two-week migration window? More like a noose tightening around the necks of those who couldn’t convert in time. Miss the deadline, and your tokens were as good as ashes in the wind.

The complaint also alleges that the newly minted tokens were handed out like candy to insider wallets, while the foundation’s 40 million tokens were unlocked faster than a jailbreak. One claim reads, “Pasternak ran the same play three times, under three different token names: generate excitement, bring consumers in, collect fees, and let the token collapse.” Sounds like a broken record-or a broken promise.

Assault Charges and Self-Defense Claims: A Side Dish to the Main Course

But wait, there’s more! Court records show Ben was arrested on April 22 for second-degree strangulation and third-degree assault, tied to a March 31 incident at the Baccarat Hotel. The alleged victim? A 27-year-old YouTube creator named Evelyn Ha, who claims she suffered neck injuries and bruising. Ben’s legal team, however, paints him as the hero, acting in self-defense. A spokesperson even called the complainant the aggressor. Talk about a he-said, she-said showdown.

Back to the crypto caper, the civil complaint claims Ben failed to honor at least 12 buyback commitments and kept collecting fees despite claiming “zero ownership” in the tokens. The plaintiffs want the court to freeze on-chain assets faster than a gunslinger draws his revolver, and they’re demanding the return of what they call unlawfully obtained revenues.

So, there you have it-a story of tokens, trouble, and a crypto cowboy who may have bitten off more than he can chew. Will justice be served, or will Ben ride off into the sunset with his $54 million? Stay tuned, folks, because this saga ain’t over yet.

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2026-04-29 10:16