Crypto Expert Exposes 7 Red Flags: Why ASTER Mirrors the ’Crime-Ponzi Playbook’

Another day, another crypto project raising eyebrows—and not the good kind.

Warning Signs You Can't Ignore

Market analysts spot familiar patterns emerging with ASTER's operations. Seven distinct characteristics align suspiciously well with historical fraud frameworks. The project's tokenomics scream centralized control while promising decentralized returns—a classic contradiction that rarely ends well for retail investors.

Regulatory Déjà Vu

Financial watchdogs haven't officially flagged ASTER yet, but the parallels are striking. From opaque treasury management to unrealistic yield promises, the project ticks boxes that typically precede regulatory intervention. Remember when traditional finance needed bailouts? Crypto projects following this playbook usually need lawyers instead.

Community Concerns Mount

Whispers across trading forums suggest early investors are already experiencing withdrawal delays. The project's documentation contains more red flags than a bullfighting arena—vague roadmaps, anonymous teams, and referral bonuses that would make even multi-level marketing schemes blush.

Transparency or Theater?

ASTER's public communications focus heavily on marketing buzzwords while avoiding technical specifics. Their audit reports—when provided—come from firms you'd need a cryptocurrency detective to verify. Meanwhile, the team claims to be "revolutionizing finance" while apparently recycling the oldest trick in the book.

Timing Is Everything

The project launched during peak market euphoria, another hallmark of questionable ventures. While legitimate builders focus on technology during bear markets, ASTER's arrival coincides perfectly with maximum investor FOMO—because what's a Ponzi scheme without fresh capital inflows?

Selective Transparency

ASTER showcases partnership announcements without substantive integration details. Their GitHub activity resembles a ghost town after initial token deployment. Yet the marketing budget could probably fund a small nation's infrastructure—priorities, right?

The Pattern Completes

All seven indicators point toward a familiar conclusion. While innovation should be encouraged, replication of failed models deserves skepticism. The crypto space has matured beyond needing another "groundbreaking" project that walks, talks, and quacks like every previous disaster. Maybe this time will be different—but history suggests otherwise.

Is Aster (ASTER) a Scam?

The ASTER token had its token generation event (TGE) this month, attracting early support from Binance founder Changpeng Zhao. Since its debut, it has posted impressive gains, climbing to an all-time high of $2.41 yesterday.

The Aster platform has emerged as one of the top six decentralized exchanges by trading volume, surpassing Hyperliquid.

Despite the impressive growth, not everyone is convinced of Aster’s potential. In a detailed post on X (formerly Twitter), Simon Dedic, founder of Mooonrock Capital, outlined several reasons for doubting Aster.

“ASTER is following the crime-ponzi playbook to perfection,” Dedic wrote.

Dedic’s analysis identifies seven key steps he claims mirror the tactics of a Ponzi scheme. First, argued that Aster’s product is not fundamentally new, but rather a copy of existing decentralized exchange models with proven market fit. 

Second, Dedic alleged that the project distributed a significant portion of its token supply to influential Key Opinion Leaders (KOLs) and insider groups. This was done to generate HYPE and secure buy pressure. 

Third, Dedic suggested that with the product itself offering little uniqueness, Aster relies on aggressive wash trading to make the platform appear more competitive than it is.

Fourth, Dedic says that the team launched the token, keeping most of the supply with itself.

“Once attention is secured, move to TGE. Launch the token while keeping most of the supply, giving you control over sell pressure. Pump the token hard with coordinated market Maker strategies and the cabals you onboarded early,” he added.

hyperliquid has 10x the open interest of aster

don't get tricked by their inflated volume

this will end in a disASTER pic.twitter.com/peTidwLWdd

The fifth step involves leveraging price momentum to drive narrative and further price increases. According to him, this is a common tactic in crypto where rising charts bolster legitimacy. Sixth, Dedic warned of an inevitable hype plateau, raising questions about sustainability. 

“Every Ponzi has a ceiling. Eventually the hype plateaus, interest fades, and the big question becomes: what’s next?” the executive noted.

Finally, he predicted that Aster may plan the launch of its own LAYER 1 blockchain as a move to sustain interest, a strategy he deems unnecessary but effective in extending the cycle.

Joshua Tobkin, Co-founder and CEO of Supra, supports this skepticism by asserting that Aster operates more like a centralized exchange (CEX). This critique challenges the project’s decentralized credentials, a cornerstone of its appeal. 

“Aster isn’t even a blockchain. At least there is transparency in the matching engine on Hyperliquid so you know the application is following its rules. Aster appears literally to be a CEX,” Tobkin commented.

Despite these allegations, whales continue to buy ASTER. Lookonchain reported that an investor (0xFB3B) pulled 50 million ASTER worth $114.5 million from Gate.io over the previous two days.

Furthermore, the blockchain analytics firm highlighted that 15 wallets — likely controlled by the same whale — withdrew 68.25 million ASTER valued at around $156.3 million from the exchange just four days ago. 

“Two whales recently accumulated 118.25 million ASTER ($270.8 million), 7.13% of the circulating supply,” the post read.

Another whale, identified as wallet 0x5bd4, withdrew 1.56 million ASTER (valued at $3.57 million) from Bybit. The address now holds 8.28 million ASTER, worth approximately $16.98 million.

BREAKING: It looks like @binance and @coinbase are accumulating on $ASTER Listing imminent pic.twitter.com/RhnX4Ap0xE

Thus, as the criticism piles up, whales remain undeterred. This divergence highlights the contrast between skeptics who see red flags and deep-pocketed investors who appear confident — or opportunistic — in betting that momentum will outweigh concerns, at least for now.