Expert Highlights 7 Reasons Why ASTER Is Following the ‘Crime-Ponzi Playbook’

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Aster (ASTER), that marvel of decentralized perpetuals exchange, has managed to make itself quite the spectacle in the financial realm with its soaring trading volume and meteoric rise in price. Oh, what a time it must be for the folks behind it, as it now enjoys the lofty position of being the most trending coin on CoinGecko today. Who wouldn’t want to bask in such glory?

However, this thrilling ascent has not escaped the sharp eye of critics, with one expert suggesting that Aster is simply following a ‘crime-ponzi playbook.’ Well, well, well… let’s dive into this delightful drama.

Is Aster (ASTER) a Scam?

Now, the ASTER token had its Token Generation Event (TGE) earlier this month, and would you look at that? Early supporters like none other than Binance founder, Changpeng Zhao, hopped on board. Since then, ASTER has enjoyed a rather absurd rise, hitting an all-time high of $2.41 yesterday. Such numbers, such glory! It’s like watching a rocket shoot for the stars. Or is it?

The Aster platform, now firmly entrenched among the top six decentralized exchanges by trading volume, has managed to eclipse the likes of Hyperliquid. But before we get carried away with these numbers, let’s slow down and consider-does all this shine come without its shadow?

Not all share the enthusiasm. Enter Simon Dedic, founder of Mooonrock Capital, who, in a lengthy post on X (formerly Twitter, naturally), raised several points of concern. Oh, he had a lot to say, and none of it was particularly rosy.

“ASTER is following the crime-ponzi playbook to perfection,” Dedic boldly declared. Well, someone’s not holding back.

Simon proceeded to lay out seven steps, which, if followed closely, would make Ponzi schemes around the world stand up and applaud. First up, Dedic claims Aster’s “unique” product is nothing but a recycled version of existing decentralized exchange models. Originality? Pfft, overrated, right?

Then, in the second step, the plot thickens. Dedic claims Aster’s team distributed a hefty chunk of its token supply to influential Key Opinion Leaders (KOLs) and other insider groups. What better way to create a storm of excitement and make sure that buying pressure keeps flowing? Oh, the drama!

Next, the plot takes a turn for the suspicious: Aster’s lack of uniqueness supposedly leads it to rely on aggressive wash trading to inflate its image. Does this sound like a healthy business model to you?

Step four? Well, that’s where the real fun begins. According to Dedic, Aster’s team cleverly held on to the majority of the token supply while launching the token. Why? So they could control the sell pressure, of course. Because who doesn’t love some good, old-fashioned market manipulation?

“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,” Dedic added, sounding like an experienced puppet master.

hyperliquid has 10x the open interest of aster

don’t get tricked by their inflated volume

this will end in a disASTER

– HYPEconomist (@theHYPEconomist) September 25, 2025

And as if things couldn’t get more “interesting,” Dedic notes that Aster will undoubtedly leverage price momentum to spin a narrative that further drives prices up. Nothing like a rising chart to make you feel like you’re on top of the world!

But wait, the story’s not over. Step six highlights the inevitable “hype plateau.” Ah yes, the moment when the bubble bursts, the crowds grow disillusioned, and the big question arises: “What’s next?” Classic Ponzi, wouldn’t you say?

“Every Ponzi has a ceiling. Eventually the hype plateaus, interest fades, and the big question becomes: what’s next?” Dedic pondered. A question for the ages.

Finally, Dedic predicts that Aster might just take a leaf from the crypto playbook and launch its own Layer 1 blockchain to keep the show going. Clever, right? But not entirely necessary, if you ask him.

Joshua Tobkin, Co-founder and CEO of Supra, is also less than impressed. He believes Aster is far closer to being a centralized exchange (CEX) than a decentralized one. Perhaps the grand decentralized dream is a little too dreamy for Aster?

“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 observed, not holding back either.

But alas, despite all these allegations, Aster continues to bask in the glory of its whale investors. In fact, Lookonchain recently reported that a whale, 0xFB3B, withdrew a mind-blowing 50 million ASTER (worth $114.5 million) from Gate.io. Talk about a big fish in a tiny pond!

Further reports indicate that a group of 15 wallets, probably all belonging to the same whale (how convenient), withdrew another 68.25 million ASTER, worth about $156.3 million. Looks like Aster’s got some big-time backers, whether you like it or not.

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

One of these whales, identified as wallet 0x5bd4, also took 1.56 million ASTER (worth $3.57 million) from Bybit. Now this wallet holds a total of 8.28 million ASTER, worth a staggering $16.98 million. Maybe the skeptics are wrong. Or maybe the whales are just getting ready for a big ol’ crash. Only time will tell.

BREAKING: It looks like @binance and @coinbase are accumulating on $ASTER Listing imminent

– drake (@drakecoinsx) September 24, 2025

So, while critics are busy crying foul and waving their red flags, the whales remain unshaken. They continue to load up, likely betting that this momentum will push them to greater wealth, regardless of what happens next. The tension builds, and so does the drama. Who will emerge victorious? The masses or the high-rolling investors? Stay tuned for the next episode!

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2025-09-25 16:19