Audit log

Every state-changing event for Ben Pasternak / Believe / LAUNCHCOIN: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-02 12:23:47Z
   Score: ? → ? (no score change)
   anchorpending

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   FSGzvnm8RFxr…t1ETsLq3copysha256 → base58

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   {"actor":"system:backfill","investigation_id":"2a623f6b-0253-430c-bb2b-3ec76d9c4b26","kind":"publish","page_slug":"ben-pasternak-believe-launchcoin","published_at":"2026-08-02T12:23:47.069Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Ben Pasternak / Believe / LAUNCHCOIN","sections":[{"content":"Benjamin Pasternak was born on September 6, 1999, in Sydney, Australia, and raised in Vaucluse in Sydney's Eastern Suburbs. He attended Moriah College and Reddam House before dropping out of high school at age 15 to pursue technology entrepreneurship. By age 18, he had built and sold Monkey, a video-chat application that attracted approximately 10 million users. Time magazine named him one of the world's most influential teenagers in 2016. In 2019, he co-founded SIMULATE, an American food-technology company producing NUGGS, a plant-based chicken substitute, which raised more than $15 million from investors including Lerer Hippeau, Alexis Ohanian, and McCain Foods. In 2021, Pasternak was included on the Forbes '30 Under 30' list in the consumer technology category. He subsequently pivoted to the cryptocurrency sector, launching a Solana-based token platform in early 2025.","heading":"Background and Prior Career","severity":"low","sources":[{"credibility":2,"name":"Phemex Academy: Ben Pasternak Lawsuit — Key Facts on Believe Token Collapse","type":"news_article","url":"https://phemex.com/academy/who-is-ben-pasternak-lawsuit-believe-token-collapse"},{"credibility":1,"name":"Forbes Profile: Ben Pasternak","type":"other","url":"https://www.forbes.com/profile/ben-pasternak/"}]},{"content":"In January 2025, Pasternak launched a Solana-based social token launchpad initially branded as Clout (later Clout.me), which was subsequently rebranded to Believe. The platform allowed users to create and trade cryptocurrency tokens without technical knowledge, using a bonding-curve mechanism that automatically upgraded tokens to a Meteora liquidity pool once a market cap of $100,000 was reached. Users could create tokens by posting a tweet on X (formerly Twitter) mentioning '@launchcoin' along with a desired token name. The platform's native token passed through three names across its operational history: $PASTERNAK (launched January 24, 2025), $LAUNCHCOIN (rebranded April 29, 2025), and $BELIEVE (introduced via a forced migration in October 2025). At its peak in May 2025, $LAUNCHCOIN reached a market capitalization of approximately $370 million. The platform's total cumulative trading volume exceeded $6 billion, generating an estimated $54 million in creator and platform fees. By the time of the litigation filing in March 2026, both $LAUNCHCOIN and $BELIEVE had lost more than 99% of their respective peak values.","heading":"The Believe Platform and Token Architecture","severity":"high","sources":[{"credibility":2,"name":"CryptoManiaks: What Is Launch Coin On Believe?","type":"news_article","url":"https://cryptomaniaks.com/news/what-is-launchcoin-launch-coin-on-believe"},{"credibility":2,"name":"Phemex Academy: Ben Pasternak Lawsuit — Key Facts on Believe Token Collapse","type":"news_article","url":"https://phemex.com/academy/who-is-ben-pasternak-lawsuit-believe-token-collapse"},{"credibility":2,"name":"The Defiant: LaunchCoin Price Drops as Developers Switch to Believe Token","type":"news_article","url":"https://thedefiant.io/news/tokens/launchcoin-price-drops-as-developers-switch-to-believe-token"}]},{"content":"The federal class action complaint (Lee v. Pasternak, No. 1:26-cv-02368) filed on March 23, 2026, by law firm Burwick Law alleges that Pasternak executed an identical scheme across three successive token identities, described in the complaint as: 'generate excitement, bring consumers in, collect fees, and let the token collapse.' On January 24, 2025, when launching $PASTERNAK, Pasternak allegedly publicly declared he held '0 ownership in the token,' a statement the complaint characterizes as false and intended to cultivate retail investor trust. The $PASTERNAK token allegedly reached a market cap of approximately $80 million on its first day before subsequently declining. The complaint further alleges that from May through October 2025, Pasternak made at least twelve separate public statements promising a 'flywheel' buyback mechanism for $LAUNCHCOIN that would support its price; none of these alleged commitments materialized. In October 2025, rather than executing a buyback, Pasternak announced that $LAUNCHCOIN would be retired and replaced by a new token, $BELIEVE, with a two-week mandatory migration window, after which unconverted $LAUNCHCOIN tokens were permanently burned. The complaint alleges the migration increased the total token supply from one billion to approximately 1.33 billion tokens — a 33.3% dilution — with approximately 333 million newly created tokens allocated to insider-linked wallets. Defendants named in the suit are Ben Pasternak personally, his company B24, Inc., and the Believe Foundation. The complaint asserts violations of New York General Business Law sections 349 and 350, the California Unfair Competition Law, the California False Advertising Law, negligent misrepresentation, and unjust enrichment. Plaintiffs are Joshua Lee of California and Pierre Montmeas of France, representing a class of all persons who held any of the three tokens from January 2025 onward. Plaintiffs have requested asset freezes on on-chain wallets and token reserves as preliminary relief. As of the available reporting, all charges and civil allegations remain contested; Pasternak has not publicly admitted wrongdoing.","heading":"Alleged Serial Rug-Pull Scheme","severity":"critical","sources":[{"credibility":1,"name":"Burwick Law: Lee v. Pasternak Proof of Service Update","type":"court_filing","url":"https://www.burwick.law/insights/believe-lawsuit-update-proof-of-service-filed-in-lee-v-pasternak-class-action"},{"credibility":2,"name":"Crypto.news: Class Action Claims Believe Founder Collected $54M While Diluting Token Holders","type":"news_article","url":"https://crypto.news/class-action-claims-believe-founder-collected-54m-while-diluting-token-holders/"},{"credibility":2,"name":"KuCoin: 26-Year-Old Believe Founder Faces Criminal Charges Over Crypto Fraud Allegations","type":"news_article","url":"https://www.kucoin.com/news/flash/26-year-old-believe-founder-faces-criminal-charges-over-crypto-fraud-allegations"},{"credibility":2,"name":"CryptoNews.net: Crypto Fraud Cases Intensify as Ben Pasternak Faces Charges","type":"news_article","url":"https://cryptonews.net/news/legal/32706628/"},{"credibility":2,"name":"ClaimDepot: Believe Crypto Class Action","type":"other","url":"https://www.claimdepot.com/cases/believe-crypto-class-action-accuses-founder-ben-pasternak-of-misleading-token-investors"}]},{"content":"Multiple sources report that Pasternak has been indicted in the Southern District of New York (SDNY) in connection with the alleged cryptocurrency fraud scheme. The indictment, as described in reporting, characterizes the conduct as 'a deceptive cycle of rug pulling' involving the three successive tokens. Specific charges in the criminal indictment and the precise date of its filing have not been confirmed in primary source documents available at the time of this investigation. The SDNY is described across multiple reports as the prosecuting jurisdiction. This case is described by crypto-industry outlets as one of the highest-profile criminal indictments arising from a Solana memecoin platform. Pasternak has pleaded not guilty to the criminal charges. The investigation will be updated as primary court documents become publicly available.","heading":"Criminal Indictment — Crypto Fraud","severity":"critical","sources":[{"credibility":2,"name":"CryptoNews.net: Crypto Fraud Cases Intensify as Ben Pasternak Faces Charges","type":"news_article","url":"https://cryptonews.net/news/legal/32706628/"},{"credibility":2,"name":"Gizmodo: Yet Another '30 Under 30' Nominee Could Be Headed to Prison","type":"news_article","url":"https://gizmodo.com/yet-another-30-under-30-nominee-could-be-headed-to-prison-2000750475"},{"credibility":2,"name":"KuCoin: 26-Year-Old Believe Founder Faces Criminal Charges Over Crypto Fraud Allegations","type":"news_article","url":"https://www.kucoin.com/news/flash/26-year-old-believe-founder-faces-criminal-charges-over-crypto-fraud-allegations"}]},{"content":"On April 22, 2026, Pasternak was arrested by New York authorities on charges unrelated to the cryptocurrency fraud proceedings. Public records from the New York Criminal Court indicate he was charged with one count of strangulation in the second degree and two counts of assault in the third degree with intent to cause physical injury, in connection with an incident alleged to have occurred on March 31, 2026, at the Baccarat Hotel in New York. The alleged victim has been identified in multiple media reports as Evelyn Ha, a 27-year-old YouTube content creator and Pasternak's former romantic partner. Ha subsequently posted a public statement on YouTube stating that she had ended the relationship for her safety and well-being. Pasternak's legal representatives denied the allegations, stating that his conduct constituted lawful self-defense. Pasternak pleaded not guilty to all charges; his next scheduled court appearance was reported as June 11, 2026. These charges are legally separate from the cryptocurrency fraud indictment.","heading":"Assault and Strangulation Arrest (April 2026)","severity":"high","sources":[{"credibility":1,"name":"The Block: Believe Founder Arrested on Strangulation Charges","type":"news_article","url":"https://www.theblock.co/post/398532/believe-founder-arrested-strangulation"},{"credibility":2,"name":"Decrypt: Founder of Solana Token Launchpad Believe Arrested on Assault, Strangulation Charges","type":"news_article","url":"https://decrypt.co/365292/founder-solana-token-launchpad-believe-arrested"},{"credibility":2,"name":"Bitcoin.com News: Believe Founder Ben Pasternak Arrested, Token Collapses","type":"news_article","url":"https://news.bitcoin.com/believe-founder-ben-pasternak-arrested-strangulation-token-collapses/"}]},{"content":"Following the arrest of Pasternak on April 22, 2026, the $BELIEVE token declined approximately 99% from its all-time high. $LAUNCHCOIN had undergone a similar collapse before being retired in the October 2025 migration. The class action complaint estimates total investor losses across all three tokens in the hundreds of millions of dollars, though no court has adjudicated damages as of the time of this investigation. By July 2026, CoinMarketCap and other tracking services showed the LAUNCHCOIN token trading at or near $0.0001, representing effective total loss for holders who did not exit near peak pricing. The platform's business model — collecting percentage fees on every token trade — meant that revenue accrued to the platform operator regardless of whether the underlying tokens retained value.","heading":"Token Price Collapse and Investor Losses","severity":"critical","sources":[{"credibility":2,"name":"Phemex Academy: Ben Pasternak Lawsuit — Key Facts on Believe Token Collapse","type":"news_article","url":"https://phemex.com/academy/who-is-ben-pasternak-lawsuit-believe-token-collapse"},{"credibility":2,"name":"Markets Daily: Launch Coin on Believe (LAUNCHCOIN) Price Hits $0.0001","type":"news_article","url":"https://www.themarketsdaily.com/2026/07/24/launch-coin-on-believe-launchcoin-price-hits-0-0001.html"},{"credibility":2,"name":"GNCrypto News: Ben Pasternak Arrested; Believe Token Collapses 99%","type":"news_article","url":"https://www.gncrypto.news/news/ben-pasternak-arrested-believe-token-collapses-99-lawsuit/"}]},{"content":"As of August 2026, Pasternak faces proceedings on two distinct legal tracks. On the civil side, Lee v. Pasternak (No. 1:26-cv-02368, SDNY), filed March 23, 2026, is in early stages: proof of service has been filed against all defendants (Pasternak, B24, Inc., and Believe Foundation), and defendants are in the responsive pleading window. On the criminal side, a separate indictment in the SDNY relates to the alleged cryptocurrency fraud scheme; the specific charges and indictment date have not been confirmed in primary documents available to this investigation. The assault and strangulation charges in New York Criminal Court are proceeding separately, with Pasternak's next court date reported as June 11, 2026. Pasternak has pleaded not guilty to all charges across all proceedings. No conviction or civil judgment has been entered. All allegations of fraud, rug-pulling, and assault remain unproven in court as of the date of this report.","heading":"Legal Status and Proceedings Summary","severity":"high","sources":[{"credibility":1,"name":"Burwick Law: Lee v. Pasternak Proof of Service Update","type":"court_filing","url":"https://www.burwick.law/insights/believe-lawsuit-update-proof-of-service-filed-in-lee-v-pasternak-class-action"},{"credibility":3,"name":"AllAboutLawyer: $BELIEVE Token Ben Pasternak Class Action Lawsuit April 2026","type":"news_article","url":"https://allaboutlawyer.com/ben-pasternak-believe-token-class-action-lawsuit/"}]}],"sources_used":[{"credibility":1,"name":"The Block — Believe Founder Arrested on Strangulation Charges","type":"news_article","url":"https://www.theblock.co/post/398532/believe-founder-arrested-strangulation"},{"credibility":1,"name":"Burwick Law — Lee v. Pasternak Proof of Service Update","type":"court_filing","url":"https://www.burwick.law/insights/believe-lawsuit-update-proof-of-service-filed-in-lee-v-pasternak-class-action"},{"credibility":2,"name":"Crypto.news — Class Action Claims Believe Founder Collected $54M","type":"news_article","url":"https://crypto.news/class-action-claims-believe-founder-collected-54m-while-diluting-token-holders/"},{"credibility":2,"name":"Phemex Academy — Ben Pasternak Lawsuit: Key Facts on Believe Token Collapse","type":"news_article","url":"https://phemex.com/academy/who-is-ben-pasternak-lawsuit-believe-token-collapse"},{"credibility":2,"name":"CryptoNews.net — Crypto Fraud Cases Intensify as Ben Pasternak Faces Charges","type":"news_article","url":"https://cryptonews.net/news/legal/32706628/"},{"credibility":2,"name":"KuCoin — 26-Year-Old Believe Founder Faces Criminal Charges Over Crypto Fraud Allegations","type":"news_article","url":"https://www.kucoin.com/news/flash/26-year-old-believe-founder-faces-criminal-charges-over-crypto-fraud-allegations"},{"credibility":2,"name":"Decrypt — Founder of Solana Token Launchpad Believe Arrested","type":"news_article","url":"https://decrypt.co/365292/founder-solana-token-launchpad-believe-arrested"},{"credibility":2,"name":"Cryptopolitan — Believe Founder Fights Fraud Claims","type":"news_article","url":"https://www.cryptopolitan.com/believe-founder-fights-fraud-claims/"},{"credibility":2,"name":"Gizmodo — Yet Another '30 Under 30' Nominee Could Be Headed to Prison","type":"news_article","url":"https://gizmodo.com/yet-another-30-under-30-nominee-could-be-headed-to-prison-2000750475"},{"credibility":2,"name":"CryptoManiaks — What Is Launch Coin On Believe?","type":"news_article","url":"https://cryptomaniaks.com/news/what-is-launchcoin-launch-coin-on-believe"},{"credibility":2,"name":"The Defiant — LaunchCoin Price Drops as Developers Switch to Believe Token","type":"news_article","url":"https://thedefiant.io/news/tokens/launchcoin-price-drops-as-developers-switch-to-believe-token"},{"credibility":1,"name":"Forbes — Ben Pasternak Profile","type":"other","url":"https://www.forbes.com/profile/ben-pasternak/"},{"credibility":2,"name":"GNCrypto News — Ben Pasternak Arrested; Believe Token Collapses 99%","type":"news_article","url":"https://www.gncrypto.news/news/ben-pasternak-arrested-believe-token-collapses-99-lawsuit/"},{"credibility":2,"name":"Markets Daily — LAUNCHCOIN Price Hits $0.0001","type":"news_article","url":"https://www.themarketsdaily.com/2026/07/24/launch-coin-on-believe-launchcoin-price-hits-0-0001.html"},{"credibility":3,"name":"AllAboutLawyer — Ben Pasternak $BELIEVE Token Class Action April 2026","type":"news_article","url":"https://allaboutlawyer.com/ben-pasternak-believe-token-class-action-lawsuit/"}],"summary":"Ben Pasternak (born September 6, 1999) is an Australian entrepreneur and the founder of Believe, a Solana-based token launchpad formerly known as Clout. The platform processed over $6 billion in cumulative trading volume and collected approximately $54 million in fees across three successive tokens — $PASTERNAK, $LAUNCHCOIN, and $BELIEVE — each of which collapsed by more than 99% from peak value. Pasternak faces a federal civil class action (Lee v. Pasternak, No. 1:26-cv-02368, SDNY) alleging a serial rug-pull scheme and a separate criminal indictment in New York, and was arrested in April 2026 on assault and strangulation charges related to an unrelated alleged domestic incident.","timeline":[{"date":"2025-01-24","event":"$PASTERNAK token launched on Solana; Pasternak publicly claims '0 ownership' of the token. Token reached an alleged market cap of ~$80M on its first day.","source":"Phemex Academy — Ben Pasternak Lawsuit","source_url":"https://phemex.com/academy/who-is-ben-pasternak-lawsuit-believe-token-collapse"},{"date":"2025-04-29","event":"$PASTERNAK token rebranded to $LAUNCHCOIN as the platform's native token.","source":"CryptoManiaks — What Is Launch Coin On Believe?","source_url":"https://cryptomaniaks.com/news/what-is-launchcoin-launch-coin-on-believe"},{"date":"2025-05-01","event":"$LAUNCHCOIN reaches peak market capitalization of approximately $370 million.","source":"Phemex Academy — Ben Pasternak Lawsuit","source_url":"https://phemex.com/academy/who-is-ben-pasternak-lawsuit-believe-token-collapse"},{"date":"2025-05-01","event":"Pasternak begins making public statements about a 'flywheel' buyback mechanism for $LAUNCHCOIN, making at least 12 such statements between May and October 2025 according to the civil complaint.","source":"Crypto.news — Class Action Claims Believe Founder Collected $54M","source_url":"https://crypto.news/class-action-claims-believe-founder-collected-54m-while-diluting-token-holders/"},{"date":"2025-10-15","event":"Forced migration from $LAUNCHCOIN to $BELIEVE announced with a two-week window. Token supply increased from 1 billion to 1.33 billion, diluting holders by ~33%; newly minted tokens alleged to have been directed to insider wallets.","source":"Phemex Academy — Ben Pasternak Lawsuit","source_url":"https://phemex.com/academy/who-is-ben-pasternak-lawsuit-believe-token-collapse"},{"date":"2025-10-29","event":"Migration deadline passes; unconverted $LAUNCHCOIN tokens permanently burned.","source":"KuCoin — 26-Year-Old Believe Founder Faces Criminal Charges","source_url":"https://www.kucoin.com/news/flash/26-year-old-believe-founder-faces-criminal-charges-over-crypto-fraud-allegations"},{"date":"2026-03-23","event":"Burwick Law files federal class action Lee v. Pasternak (No. 1:26-cv-02368) in the Southern District of New York against Ben Pasternak, B24 Inc., and the Believe Foundation.","source":"Burwick Law — Proof of Service Filed in Lee v. Pasternak","source_url":"https://www.burwick.law/insights/believe-lawsuit-update-proof-of-service-filed-in-lee-v-pasternak-class-action"},{"date":"2026-03-31","event":"Alleged incident at the Baccarat Hotel in New York involving Pasternak and YouTube creator Evelyn Ha, the basis for subsequent assault and strangulation charges.","source":"Crypto.news — Class Action Claims Believe Founder Collected $54M","source_url":"https://crypto.news/class-action-claims-believe-founder-collected-54m-while-diluting-token-holders/"},{"date":"2026-04-22","event":"Pasternak arrested in New York on charges of second-degree strangulation and two counts of third-degree assault in connection with the March 31 incident involving Evelyn Ha. Pleads not guilty.","source":"The Block — Believe Founder Arrested on Strangulation Charges","source_url":"https://www.theblock.co/post/398532/believe-founder-arrested-strangulation"},{"date":"2026-04-22","event":"$BELIEVE token collapses approximately 99% following Pasternak's arrest.","source":"GNCrypto News — Ben Pasternak Arrested; Believe Token Collapses 99%","source_url":"https://www.gncrypto.news/news/ben-pasternak-arrested-believe-token-collapses-99-lawsuit/"},{"date":"2026-04-23","event":"Decrypt and multiple outlets report the arrest; criminal indictment in SDNY related to the alleged crypto fraud scheme also reported across outlets around this period.","source":"Decrypt — Founder of Solana Token Launchpad Believe Arrested","source_url":"https://decrypt.co/365292/founder-solana-token-launchpad-believe-arrested"},{"date":"2026-06-11","event":"Pasternak's scheduled court appearance for the New York Criminal Court assault and strangulation charges.","source":"Crypto.news — Class Action Claims Believe Founder Collected $54M","source_url":"https://crypto.news/class-action-claims-believe-founder-collected-54m-while-diluting-token-holders/"}]},"v":1}

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