New reviews reveal that an on-chain investigator has raised allegations connecting Vitalik Buterin, the founding father of Ethereum, to the $500 million Gatecoin hack in 2016. According to the crypto sleuth, Buterin’s Ethereum Foundation was allegedly transferring funds to the Gatecoin hackers’ major pockets.
Buterin Accused Of Contributing To Gatecoin Hack
TruthLabs, a preferred crypto investigator and sleuth on X (previously Twitter), has accused Buterin of being straight concerned in Ethereum’s first hack in 2016, which led to the lack of tokens value over $500 million in the present day. The crypto analyst disclosed that the pockets funding the Gatecoin hacker had obtained ETH from solely three pockets sources.
The Gatecoin hacker’s unique crypto pockets was allegedly funded by a wallet owned by the Ethereum Foundation, a non-profit group that helps the ETH blockchain. The second funding pockets originated from Ethereum’s Genesis Block 0 account. This pockets interacted with two major addresses—a user-controlled Poloniex wallet and a contract arrange by Buterin.
TruthLabs additionally revealed that the third and last pockets that funded the Gatecoin hackers was equally generated from a Genesis 0 block. The crypto investigator alleged that the nameless third pockets was straight linked to the core Ethereum developer, Vlad Zamfir.
Based on these newfound developments, TruthLabs disclosed that an immutable ledger at present signifies that Buterin and members of the Ethereum Foundation had been allegedly concerned within the $0.5 billion Gatecoin hack. He declared that the Gatecoin exploit more than likely occurred 30 days earlier than the Foundation was scheduled to expire of cash. Moreover, this timeline precedes the DAO exploit, which noticed hundreds of thousands of {dollars} misplaced only a few weeks after the Gatecoin hack.
As of now, there was no official response from Buterin or the Ethereum Foundation relating to the allegations made by TruthLabs. The crypto group additionally awaits additional clarification and affirmation of Buterin’s involvement because the story unfolds.
Silk Road Bitcoin Put In The Spotlight
While he accuses Buterin of being linked to the 2016 Gatecoin hack, TruthLabs additionally shared insights into the latest developments involving Silk Road founder Ross Ulbricht. According to the crypto investigators’ claims, the Bitcoin seized from Silk Road’s pockets helped fund Ethereum’s 2014 ICO mission and BTC wallets.
The analyst alleged that Ross’s incarceration had funded the creation of the Ethereum foundation, because the BTC from Silk Road and Mt. Gox had aided in creating the muse. TruthLabs additionally referred to as out Buterin for failing to indicate help for Ulbricht’s release after he was sentenced to life imprisonment with out risk of parole in 2015.
Criticizing the Founder, TruthLabs described him as a “stain on the word integrity”, accusing Buterin of shirking his ethical obligations. The on-chain investigator claimes that Buterin constructed the Ethereum basis utilizing Silk Road’s Bitcoin however didn’t publicly advocate for Ulbritch’s launch — a trigger extensively championed inside the crypto group.
Featured picture from Medium, chart from Tradingview.com
