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Staro 29.01.2022., 15:13   #233
The Exiled
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Citiraj:
The co-founder of DeFi protocol Wonderland was revealed to be a convicted fraudster who previously co-founded the notorious QuadrigaCX exchange
Citiraj:
Investors are shaken after the co-founder (Michael Patryn) of a multi-billion dollar cryptocurrency protocol was accused of being a serial scammer with a record of conviction and deportation, and the co-founder of a fraudulent Canadian exchange that imploded. Patryn, who changed his legal name twice, was the co-founder of QuadrigaCX, a Canadian exchange that shut down after Patryn's partner Gerald Cotten suddenly died in India in 2018 while owing users around $190 million in crypto at the time’s exchange rate. Daniele Sestagalli, the founder of Wonderland, confirmed the allegation. Sestagalli is a prolific developer who is behind multiple DeFi projects, including Abracadabra's Magic Internet Money (MIM) token. “I want everyone to know that I was aware of this and decided that the past of an individual doesn’t determine their future. I choose to value the time we spent together without knowing his past more than anything,” Sestagalli wrote on Twitter. Crypto wallet identified as belonging to Patryn appeared to be rapidly offloading various tokens on Thursday, with its total net worth dropping from $450 million to $70 million in a matter of hours. Meanwhile a separate address also linked to Patryn was similarly active. The address was traced to him by Taylor Monahan, chief executive of Ethereum tool MyCrypto, who has been keeping tabs on the wallet since she was a victim in Quadriga’s collapse.
Citiraj:
Patryn, who also formerly went by Omar Dhanani before legally changing his name on two occasions, spent 18 months in U.S. federal prison and was deported to Canada after pleading guilty to conspiracy to commit credit-and-bank card fraud in 2005, and burglary, grand larceny and computer fraud two years later. He later became affiliated with Quadriga’s co-founder Gerald Cotten in the early days of the Canadian exchange.
Izvor: Motherboard
EDIT:
Citiraj:
Popcorn Time: Crypto project in chaos after co-founder outed as fraudster
Citiraj:
Investors in Wonderland, a multi-billion dollar cryptocurrency project, have voted to continue the project after its co-founder was revealed to be a convicted serial scammer who previously co-founded a fraudulent cryptocurrency exchange. Chaos quickly overtook the Wonderland project, which provides an "algorithmic reserve currency" called TIME that is backed by tokens contributed by investors. Wonderland is run as a DAO (decentralized autonomous organization), where token holders can vote on group decisions. First, investors overwhelmingly voted to kick Patryn out of the project, ousting him as treasury manager, with 87 percent investors voting in favor of his exit. That was the easy part. The vote on winding the project down ended only after a dramatic stalemate, with some investors calling for the project to dissolve and for its treasury of user-contributed funds to be refunded, and others fighting in support of the project. In the end, the grass-roots campaign won by a slim margin, with 55 percent voting to continue. Despite the signal to carry on, what form it will ultimately take is currently unclear.
Izvor: Motherboard
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Zadnje izmijenjeno od: The Exiled. 01.02.2022. u 21:42.
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