in a detailed thread On social media platform According to TruthLabs, there is transactional evidence linking the ethereum Foundation to the major Gatecoin hack of 2016, an event that preceded the infamous DAO hack.
At the center of this exhibit is a series of ethereum wallet addresses and their interconnected transactions, carefully traced back to the moments before the hack. The thread begins with a bold statement from TruthLabs, “Proof of ethereum Foundation involvement in the 2016 Gatecoin hack, prior to the DAO exploit,” setting the tone for a narrative that unfolds a complex web of transactions, contracts, and threats. potentially incriminating. associations.
The Gatecoin hack and the transaction trail
The Gatecoin hack occurred between May 9 and 12, 2016, a turbulent period in the cryptocurrency market, just before the start of The DAO token sale and the subsequent DAO hack. Gatecoin's official statement at the time revealed losses of 185,000 ethereum from its wallets, a staggering amount valued today at over $460 million.
TruthLabs, in its research thread, examines the on-chain movements associated with this event, focusing on four ethereum addresses believed to be directly involved in the hack. One address, in particular, 0x1342a0, emerged as a focal point due to its activities before the hack.
This wallet received an initial transfer of 1.6 Ether from another wallet, 0x8266, on May 9, 2016. TruthLabs delves into the origins and transactions of 0x8266, looking at its development activities, including the creation of 10 different contracts. The wallet's interactions revealed a close nexus with wallet 0x556b, another development-focused address involved in establishing nine contracts and creating tokens that resembled The DAO's infrastructure.
“0x556b even created a pair of tokens in December 2015 called DAO kobi and DAO Dollar. TheDAO token contract was not established until June 2016. Clearly, 0x556b is a developer who was working on developing contracts similar to the later released DAO contracts,” the researcher states.
0x556b, the last wallet that sent Gas money to the Hackers 0x8266 wallet when they needed it, was originally funded by the main ethereum Foundation wallet. In fact, they only received eth from the ethereum Foundation before the Gatecoin exploit.
The ethereum Foundation Connection
The crux of the accusation revolves around the origin of the funds in wallet 0x556b. TruthLabs reveals that “0x556b, the last wallet that sent Gas money to the Hackers 0x8266 wallet when they needed it, was originally funded by the main ethereum Foundation wallet,” pointing to a direct financial path from the ethereum Foundation to the Gatecoin hackers. .
This revelation is supported by the following forensic map, which details the flow of funds and contractual interactions ranging from the ethereum Foundation to the actors behind the Gatecoin hack.
The plot thickens when TruthLabs speculates about the possible motive behind the ethereum Foundation's alleged involvement. Citing financial forecasts from September 2015, the on-chain detective suggests that the Foundation was possibly facing a dire financial crisis, with predictions of running out of funds by June 2016, coinciding with the period of the Gatecoin and DAO hack.
“One of the reasons the ethereum Foundation may have started a hacking spree at that time is because they were on the brink of collapse. “They themselves predicted that they would run out of funds during exactly the same period as the Gatecoin and TheDAO exploits,” says the researcher.
Calls for accountability and further investigation
Steven Nerayoff, in your support statement, underlined the seriousness of these accusations and the urgent need for a response from the parties involved. It states: “Vitalik Buterin and Joseph Lubin, @BoringSleuth on-chain data is correct or not. “Silence can only be interpreted as an admission of guilt given the magnitude of these accusations.”
TruthLabs echoes this sentiment, and invites the crypto community to independently verify the findings and participate in unraveling the full scope of these claims. Neither Vitalik Buterin nor anyone else from the ethereum Foundation camp has yet commented on the allegations. The silence of Buterin and Lubin certainly does not help silence critics.
At the time of this publication, eth was trading at $2,533.
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