New reports reveal that an investigator at the network has raised allegations that connect Vitalik Buterinethereum Founder to $500 Million Gatecoin Hack in 2016. According to the crypto sleuth, Buterin's ethereum Foundation allegedly transferred funds to the Gatecoin hackers' primary wallet.
Buterin accused of contributing to Gatecoin Hack
Truthlabs, a popular crypto researcher and detective on x (formerly twitter), has <a target="_blank" href="https://x.com/boringsleuth/status/1883006797625102386?s=46″ target=”_blank” rel=”noopener nofollow”>accused Buterin from being directly involved in the first ethereum hack in 2016, which led to the loss of tokens worth over $500 million today. The crypto analyst revealed that the Gatecoin hacker's financial wallet had received eth from only three wallet sources.
Gatecoin hacker's original crypto wallet was allegedly funded by a ethereum owned wallet Basea non-profit organization that supports the eth blockchain. The second funding wallet originated from the ethereum Genesis Block 0 account. This wallet interacted with two main addresses: one Wallet and a contract created by Buterin.
Truthlabs also revealed that the third and final wallet that funded the Gatecoin Hackers was similarly generated from a Genesis 0 block. The crypto researcher alleged that the anonymous third wallet was directly linked to the core ethereum DeveloperVlad Zamfir.
Based on these newly discovered developments, Truthlabs revealed that an immutable ledger indicates that Buterin and members of the ethereum Foundation were allegedly involved in the $0.5 billion Gatecoin hack. He stated that the Gatecoin exploit likely occurred 30 days before the foundation was scheduled to run out of money. Additionally, this timeline predates the DAO exploit, which saw millions of dollars lost just a few weeks after the Gatecoin hack.
As of now, there has been no official response from Buterin or the ethereum Foundation regarding the allegations made by Truthlabs. The crypto community is also hoping for further clarification and confirmation of Buterin's involvement as the story develops.
Silk Put Route bitcoin in the Spotlight
While accusing Buterin of being connected to Gatecoin Hack 2016Truthlabs too <a target="_blank" href="https://x.com/boringsleuth/status/1881175747856912653?s=46″ target=”_blank” rel=”noopener nofollow”>shared Insights into recent developments involving the founder of Silk Road Ross Ulbricht. According to claims by crypto researchers, the bitcoin seized from the Silk Road wallet helped fund the 2014 ethereum ICO project and btc wallets.
The analyst alleged that Ross's imprisonment had financed the creation of the ethereum Foundationlike the Silk Road btc and Mount Gox had helped develop the foundations. Truthlabs also called out Buterin for not showing support for Ulbricht Release After being sentenced to life in prison without the possibility of parole in 2015.
Criticizing the founder, Truthlabs described him as a “stain on the word integrity,” accusing Buterin of shirking his moral responsibilities. On-chain researcher claims Buterin built the ethereum Foundation using Silk Road bitcoin but he was unable to publicly advocate for the release of Ulbritch, a cause widely advocate Within the crypto community.
Featured image from Medium, chart from TradingView.com