Bald

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BALD

dYdX (ethDYDX)

<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 <a href="https://crypto.news/crypto-twitter-believes-sbf-secretly-backs-bald/" data-type="URL" data-id="https://crypto.news/crypto-twitter-believes-sbf-secretly-backs-bald/" rel="noopener noreferrer nofollow">tailspin</a> 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 <a href="https://basescan.org/tx/0xd4fce790ac42a5a801bebb220adc2a6f9d9bf99985de6a824638a269c3e52ade" data-type="URL" data-id="https://basescan.org/tx/0xd4fce790ac42a5a801bebb220adc2a6f9d9bf99985de6a824638a269c3e52ade" target="_blank" rel="noopener noreferrer nofollow">decline</a> 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 <a href="https://twitter.com/BaldBaseBald/status/1685998514839470081" data-type="URL" data-id="https://twitter.com/BaldBaseBald/status/1685998514839470081" target="_blank" rel="noopener noreferrer nofollow">tweet</a>.</p> 
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   <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) <a href="https://twitter.com/BaldBaseBald/status/1685998514839470081?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 31, 2023</a> 
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<p>Igor Igamberdiev, Wintermute’s chief of research, 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 <a href="https://crypto.news/alameda-researchs-market-manipulation-and-insider-trading-took-down-ftx/" data-type="URL" data-id="https://crypto.news/alameda-researchs-market-manipulation-and-insider-trading-took-down-ftx/" rel="noopener noreferrer nofollow">Alameda Research</a>, once FTX exchange’s research and trading subsidiary, which has since fallen apart.</p> 
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   <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 <a href="https://twitter.com/BaldBaseBald?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@BaldBaseBald</a> deployer.<br><br>This is definitely someone from Alameda, but I don't think we can safely say that this is <a href="https://twitter.com/SBF_FTX?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SBF_FTX</a> (even though he is a psycho)<br><br>Let's go👇 <a href="https://t.co/qs7e2nMTI1" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/qs7e2nMTI1</a></p>— Igor Igamberdiev (@FrankResearcher) <a href="https://twitter.com/FrankResearcher/status/1686184372485976065?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2023</a> 
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<p>Igamberdiev’s research emphasizes the discovery of an old wallet, <a href="https://etherscan.io/address/0x000f7f22bfc28d940d4b68e13213ab17cf107790" target="_blank" rel="noopener noreferrer nofollow">0x000f7f</a>, 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> 
<p> You might also like: <a href="https://crypto.news/bald-meme-coin-surges-40000-in-48-hours-and-then-plunges/" rel="noopener noreferrer nofollow"> BALD meme coin surges 40,000% in 48 hours and then plunges </a> </p> 
<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 <a href="https://twitter.com/FrankResearcher/status/1686184382845833216" data-type="URL" data-id="https://twitter.com/FrankResearcher/status/1686184382845833216" target="_blank" rel="noopener noreferrer nofollow">mention</a> 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> 
<p> Read more: <a href="https://crypto.news/bases-tvl-spikes-48x-on-bald-meme-coin-frenzy/" rel="noopener noreferrer nofollow"> Base’s TVL spikes 48X on BALD meme coin frenzy </a> </p>

Alameda Research tied to Bald coin crash: Wintermute researcher

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