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<p>The post <a rel="nofollow" href="https://coinpedia.org/news/uncovering-the-mystery-surrounding-filecoins-ico/">Filecoin ICO Under Scrutiny; Investigation Reveals Potential Fraud!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>An on-chain investigator, known as @BoringSleuth, has cast doubts on the blockchain project <a href="https://coinpedia.org/price-prediction/filecoin-fil-price-prediction/">Filecoin (FIL)</a> and its initial coin offering (ICO). In a comprehensive report, BoringSleuth delves into Filecoin’s wallets and funding transactions, raising questions about potential shady associations with entities like the Ethereum Foundation, Wanxiang, Prometheum, and others.</p> 
<p>What did he uncover? Let’s read on.</p> 
<h2 class="wp-block-heading" id="h-questioning-the-ico">Questioning the ICO</h2> 
<p>The investigation began by checking the wallets that sent the most cryptocurrency (Ether or ETH) to Filecoin during its ICO. They noticed unusual patterns, like wallets sending <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">ETH</a> with long decimal numbers. This might have made it look like many people were investing in Filecoin, even if it was just a small group.</p> 
<p>BoringSleuth believes that by digging deeper, they can discover who owns these wallets and how they might be involved in potentially unethical actions related to Filecoin’s ICO.</p> 
<blockquote class="wp-block-quote"> 
 <p><em>“Unfortunately for them, for every brilliant mind with little ethics that exists in the world, there are several others who also have brilliant minds, but also ethics, and use it towards good, and not fraud.”</em></p> 
</blockquote> 
<h2 class="wp-block-heading" id="red-flags-are-waving">Red Flags Are Waving!</h2> 
<p>One particularly concerning trend that emerged was the high number of wallets sending ETH with unusually long decimal numbers. This raised suspicions that these transactions might have been part of an effort to create an appearance of widespread interest in Filecoin’s ICO. It’s worth noting that such tactics are often used to manipulate markets and deceive potential investors.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1e8-1f1f3.png" alt="🇨🇳" class="wp-smiley" style="height: 1em; max-height: 1em;"> Was <a href="https://twitter.com/hashtag/Filecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Filecoin</a> a FRAUD Orchestrated by the Ethereum Foundation, Wanxiang, Prometheum, and other CCP entities? READ TO THE END!! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1e8-1f1f3.png" alt="🇨🇳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>When you sleuth, you need to remain open to all possibilities. Within a transaction, data can be derived from just about the entirety of it.… <a href="https://t.co/MzX82n4InC">pic.twitter.com/MzX82n4InC</a></p>— TruthLabs 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@BoringSleuth) <a href="https://twitter.com/BoringSleuth/status/1706913489074131051?ref_src=twsrc%5Etfw">September 27, 2023</a>
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<p><strong>Getting to the bottom of things</strong></p> 
<p>BoringSleuth is not just spotting these patterns; they’re also using a special database called the Truth Labs Database of Networks and Wallets to figure out who owns these wallets. This is a tricky task because cryptocurrency transactions are often hard to trace. But if they succeed, they could expose the people behind these transactions and whether they did anything shady during Filecoin’s ICO.</p> 
<blockquote class="wp-block-quote"> 
 <p>“What we are looking at now is a clear picture of who owns what. Who was involved in the Ponzi, and on what level? We can even cross-check News Articles and begin to assign VCs to these groups and build out a network.”</p> 
</blockquote> 
<p>This Might Interest You: <a href="https://coinpedia.org/news/crypto-community-on-edge-coinbase-ceo-predicts-legal-battle-at-supreme-court/">“The SEC Can’t Continue to Punish Crypto”: Coinbase CEO Slams Gary Gensler</a></p>

Filecoin ICO Under Scrutiny; Investigation Reveals Potential Fraud!

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