New reports show that an investigator has made allegations in the chain Vitalik Buterinthe founder of Ethereum, about the $500 million Gatecoin hack in 2016. According to the crypto detective, Buterin’s Ethereum Foundation allegedly transferred funds to the Gatecoin hackers’ primary wallet.
Buterin is accused of contributing to the Gatecoin hack
TruthLabs, a popular crypto investigator and detective on X (formerly Twitter), has accused Buterin was directly involved in Ethereum’s first hack in 2016, which resulted in the loss of over $500 million worth of tokens today. The crypto analyst revealed that the Gatecoin hacker’s wallet funding had received ETH from only three wallet sources.
The Gatecoin hacker’s original crypto wallet was allegedly funded by a Wallet owned by Ethereum Foundationa non-profit organization supporting the ETH blockchain. The second funding wallet comes from Ethereum’s Genesis Block 0 account. This wallet interacted with two primary addresses – one controlled by the user Poloniex wallet and a contract drawn up by Buterin.
TruthLabs also revealed that the third and final wallet that funded the Gatecoin hacker was similarly generated from a Genesis 0 block. The crypto investigator claimed that the anonymous third wallet was directly connected to the core Ethereum developerVlad Zamfir.
Based on these newly discovered developments, TruthLabs revealed that an immutable ledger currently indicates that Buterin and members of the Ethereum Foundation were allegedly involved in the $0.5 billion Gatecoin hack. He explained that the Gatecoin exploit most likely occurred 30 days before the foundation was scheduled to run out of funds. Additionally, this timeline precedes the DAO exploit, which saw millions of dollars lost just weeks after the Gatecoin hack.
To date, there has been no official response from Buterin or the Ethereum Foundation to TruthLabs’ claims. The crypto community is also waiting for further clarification and confirmation of Buterin’s involvement as the story continues.
Silk Road Bitcoin comes into the spotlight
While accusing Buterin of being it connected with the 2016 Gatecoin hackTruthLabs too divided Insights into the latest developments surrounding the founder of Silk Road Ross Ulbricht. According to crypto investigators’ claims, the Bitcoin seized from the Silk Road wallet helped fund the 2014 Ethereum ICO project and BTC wallets.
The analyst claimed that Ross’s imprisonment funded the company’s creation Ethereum Foundationas the BTC from Silk Road and Mt. Gox had helped in the development of the foundation. TruthLabs also criticized Buterin for failing to show support Ulbricht’s release after being sentenced to life in prison without the possibility of parole in 2015.
TruthLabs criticized the founder, calling him a “stain on the word integrity” and accused Buterin of shirking his moral responsibilities. The on-chain investigator claims that Buterin built the foundation of Ethereum Bitcoin from Silk Road However, he failed to publicly advocate for Ulbritch’s release – a widespread concern championed within the crypto community.
Featured image from Medium, chart from Tradingview.com