Recent reports show that an investigator in the chain has raised connecting allegations Vitalik ButerinFounder of Ethereum, to the $500 million Gatecoin hack in 2016. According to crypto Sleuth, the Ethereum Buterin Foundation allegedly transferred funds to the Gatecoin hackers’ main wallet.
Barein accused of contributing to Gatecoin hack
TruthLabs, popular crypto researcher and Sleuth on X (formerly Twitter), accused Buterin of being directly involved in the first Ethereum hack in 2016, which led to the loss of over $500 million in tokens. A crypto analyst revealed that the Gatecoin hacker’s wallet funding received ETH from just three wallet sources.
Hacker’s original Gatecoin crypto wallet was allegedly funded by wallet belonging to Ethereum Foundationa non-profit organization that supports the ETH Blockchain. The second financial wallet comes from the Genesis Block 0 Ethereum account. This wallet interacted with two main user-controlled addresses Poloniex wallet and the contract established by Buterin.
TruthLabs also revealed the third and final wallet it has funded Gatecoin hackers was similarly generated from Genesis block 0. A cryptographic investigator claimed that an anonymous third wallet was directly tied to the core Ethereum developerVlad Zamfir.
Based on these newly discovered events, TruthLabs revealed that the immutable ledger now indicates that Paint and members of the Ethereum Foundation were allegedly involved in the $0.5 billion Gatecoin hack. He stated that the utilize of Gatecoin most likely occurred 30 days before the foundation planned to run out of money. Moreover, this timeline predates the DAO exploit where millions of dollars were lost just weeks after the Gatecoin hack.
There has been no official response from the Foundation or the Ethereum Foundation regarding the allegations made by TruthLabs as of yet. The crypto community is also waiting for further clarification and confirmation of Bemein’s involvement as the story unfolds.
Silk bitcoin steep in the spotlight
While he accuses Buterin of being connected with 2016 Gatecoin HackTruthLabs too common An insight into recent events involving the founder of Silk Road Ross Ulbricht. According to claims by crypto detectives, bitcoins confiscated from the Silk Road wallet helped fund the 2014 Ethereum ICO project and BTC wallets.
The analyst claimed that Ross’s imprisonment financed the creation Ethereum Foundationbecause BTC from Silk Road and Mt. Gox helped develop the foundation. TruthLabs also called out Buterin for not showing support Ulbricht edition After he was sentenced to life in prison without the possibility of parole in 2015.
Criticizing the founder, TruthLabs described him as a “stain on the word,” accusing Buterin of shirking his moral obligations. An on-chain investigator claims Buterin built the Ethereum Foundation using Bitcoin Silk Road but failed to publicly advocate for Ulbritch’s release – the reason being widely defending In the crypto community.
Featured image from Medium, chart from TradingView.com
