New studies 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. In line with the crypto sleuth, Buterin’s Ethereum Basis was allegedly transferring funds to the Gatecoin hackers’ main pockets.
Buterin Accused Of Contributing To Gatecoin Hack
TruthLabs, a well-liked 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 price over $500 million immediately. The crypto analyst disclosed that the pockets funding the Gatecoin hacker had obtained ETH from solely three pockets sources.
The Gatecoin hacker’s authentic crypto pockets was allegedly funded by a wallet owned by the Ethereum Basis, 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 main addresses—a user-controlled Poloniex wallet and a contract arrange by Buterin.
TruthLabs additionally revealed that the third and remaining 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 mostly on these newfound developments, TruthLabs disclosed that an immutable ledger at present signifies that Buterin and members of the Ethereum Basis have been allegedly concerned within the $0.5 billion Gatecoin hack. He declared that the Gatecoin exploit most probably occurred 30 days earlier than the Basis was scheduled to expire of cash. Furthermore, this timeline precedes the DAO exploit, which noticed thousands and thousands of {dollars} misplaced just some weeks after the Gatecoin hack.
As of now, there was no official response from Buterin or the Ethereum Basis 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 Highway Bitcoin Put In The Highlight
Whereas he accuses Buterin of being related to the 2016 Gatecoin hack, TruthLabs additionally shared insights into the current developments involving Silk Highway founder Ross Ulbricht. In line with the crypto investigators’ claims, the Bitcoin seized from Silk Highway’s pockets helped fund Ethereum’s 2014 ICO challenge and BTC wallets.
The analyst alleged that Ross’s incarceration had funded the creation of the Ethereum foundation, because the BTC from Silk Highway and Mt. Gox had aided in growing the muse. TruthLabs additionally referred to as out Buterin for failing to indicate assist 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 phrase 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 throughout the crypto group.
Featured picture from Medium, chart from Tradingview.com
