Filecoin has grown to become one of the most loved cryptocurrencies with an active community that continues to keep it alive. However, questions are beginning to arise about the origin of the blockchain, and its ICO in particular, as a blockchain sleuth has published the results of his investigation.
Digging deeper into the Filecoin ICO
The on-chain researcher popularly known on X (formerly Twitter) as @BoringSleuth initially made headlines in August when he posted a theory about who founder of the infamous Shiba Inu meme coin was. This time, the researcher focused his attention on another token, Filecoin, questioning its origins.
In it report Published in X, BoringSleuth began by explaining how he had obtained his findings. He explains that he had started by mapping portfolios, which led him to notice trends in funding transactions for various portfolios. According to him, one thing he highlighted was the fact that these wallets would send eth to the Filecoin ICO wallet with long decimal numbers. In total, the chain researcher was able to outline 1,255 transactions with these long decimal numbers.
Interestingly, 296 wallets had sent eth transactions that ended in 937, as shown in the image below:
ethereum-Foundation-ICO-640×420.png” alt=”Filecoin ethereum Foundation ICO” width=”640″ height=”420″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/09/On-chain-researcher-delves-into-Ethereum-Foundations-connection-to-Filecoin-ICO”https://technicalterrence.com/crypto/ethereum/”>ethereum-Foundation-ICO-640×420.png 640w, https://technicalterrence.com/wp-content/uploads/2023/09/On-chain-researcher-delves-into-Ethereum-Foundations-connection-to-Filecoin-ICO”https://technicalterrence.com/crypto/ethereum/”>ethereum-Foundation-ICO-980×643.png 980w, https://technicalterrence.com/wp-content/uploads/2023/09/On-chain-researcher-delves-into-Ethereum-Foundations-connection-to-Filecoin-ICO”https://technicalterrence.com/crypto/ethereum/”>ethereum-Foundation-ICO-768×504.png 768w, https://technicalterrence.com/wp-content/uploads/2023/09/On-chain-researcher-delves-into-Ethereum-Foundations-connection-to-Filecoin-ICO”https://technicalterrence.com/crypto/ethereum/”>ethereum-Foundation-ICO-750×492.png 750w, https://technicalterrence.com/wp-content/uploads/2023/09/On-chain-researcher-delves-into-Ethereum-Foundations-connection-to-Filecoin-ICO”https://technicalterrence.com/crypto/ethereum/”>ethereum-Foundation-ICO.png 1047w” sizes=”(max-width: 640px) 100vw, 640px”/>
Addresses ending in 937 | Source: X
Then, 228 wallets ended in 967, 179 wallets ended in 697, and 111 of them ended in 696. The remaining 106 transactions carried the last 3 unique digits but with the same long decimal numbers.
The researcher alleges that this was the work of the founders and VCs trying to make it seem like there was a lot of interest in the ICO. “When you want to make it look like a bunch of people are “imitating” your token sale, that you and your handful of VCs are going to throw to the plebs, you have to use some kind of code to help with grouping. who sent what,” BoringSleuth said.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/09/1695856999_997_On-chain-researcher-delves-into-Ethereum-Foundations-connection-to-Filecoin-ICO" alt="Filecoin (FIL) price chart from Tradingview.com (ethereum Foundation)” width=”2884″ height=”1746″/>
Linking it to the ethereum Foundation
The report went deeper and the researcher seems to get to the fact that people like ethereum founder Vitalik Buterin and the ethereum Foundation were part of this. He also links CCP Group as well as Cumberland and Prometheum to the Filecoin ICO, which he refers to as Ponzi.
BoringSleuth revealed that it had pooled the wallets and then verified them against the ‘Truth Labs Wallet and Network Database’. This is how the on-chain researcher was able to assign ownership of the wallet to different entities.
The report already circulating on social media appears to be the beginning. The researcher closed the report by saying; “Of course, there is much more to this story that will be shared later.”
