Bald

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BALD

dYdX (ethDYDX)

<div class="cryptonews"> 
 <p class="is-style-lead">Amid the controversy of Bald meme coin’s abrupt rug pull performance, Wintermute’s Igor Igamberdiev, steps into the spotlight to uncover where the funds have gone.</p> 
 <p>Crypto Twitter has been sent into a tailspin following the alleged rug pull of the Bald meme coin, prompting blockchain investigators to delve deep into the precedents leading up to this incident.</p> 
 <p>Bald meme coin has become a hot topic in the crypto ecosystem, skyrocketing to a market capitalization of $85 million at its apex. The rise was then followed by a heavy decline in value, plummeting to near-zero levels, usually a hallmark of a rug pull. This exploitative technique involves the removal of liquidity by key insiders, thereby resulting in a price drop. The creator of the Bald meme coin admitted his role in the liquidity pull via a tweet.</p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">I didn't sell a single token at any point since deployment. Just added/removed 2 sided liquidity and bought</p>— Bald (@BaldBaseBald) July 31, 2023 
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 <p>Igor Igamberdiev, Wintermute’s chief of <a rel="noopener noreferrer nofollow" title="research" href="https://thebittimes.com/tag/research.html">research</a>, uncovered information implying the Bald token creators – identified through the smart contract address that brought the coin into existence on the Base network – are linked to Alameda Research, once FTX exchange’s <a rel="noopener noreferrer nofollow" title="research" href="https://thebittimes.com/tag/research.html">research</a> and trading subsidiary, which has since fallen apart.</p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">1/12<br><br>Alright, I've been sitting on this news all day, but let's look at the @BaldBaseBald deployer.<br><br>This is definitely someone from Alameda, but I don't think we can safely say that this is @SBF_FTX (even though he is a psycho)<br><br>Let's go pic.twitter.com/qs7e2nMTI1</p>— Igor Igamberdiev (@FrankResearcher) August 1, 2023 
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 <p>Igamberdiev’s <a rel="noopener noreferrer nofollow" title="research" href="https://thebittimes.com/tag/research.html">research</a> emphasizes the discovery of an old wallet, 0x000f7f, tied to the creator’s address, stemming from both addresses sharing a common FTX deposit account. The ties between Alameda and the wallet are visible through their direct engagements dating back to June 2021.</p> 
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 <p>Notably, this particular wallet showed significant activity during 2019-20 on platforms like Oasis, 0x v2.1, dYdX v2, and Set Protocol, hinting at its owner’s financial prowess and technological expertise.</p> 
 <p>A different wallet address (0xF3ad7b) also finds mention in Igamberdiev’s study, characterized by on-chain patterns similar to FTX’s, and sharing the FTX deposit address with 0x000f7f. This wallet exhibited substantial trading on dYdX and played a part in SushiSwap’s initial proposals.</p> 
 <p>The address’ allocation of sizeable funds to farm tokens on platforms like Compound, SushiSwap, Cream, and Stargate, and its receipt of a POAP NFT from the Yearn launch, all coincide with FTX’s typical defi activities. Igamberdiev inferred these engagements with offshore exchanges as further evidence of FTX affiliation.</p> 
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Alameda Research tied to Bald coin crash: Wintermute researcher

TheBitTimes

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