The allegation that Sam Bankman-Fried may be one of the perpetrators of the BALD token rug-pull case has set the agenda in motion.
Is Sam Bankman-Fried Behind the Bald Token Rug-Pull?
On-chain evidence points to transactions between the deployer contract for the memecoin BALD and one of the wallets identified by Nansen as belonging to Alameda Research. It is noteworthy that Alameda Research was founded and controlled by Bankman-Fried. Several blockchain sleuths on the social networking site formerly known as Twitter reported the information.
Igor Igamberdiev Made a Statement
Igor Igamberdiev, the head of research at Wintermute, linked another wallet address, 0xccFa05, to Alameda, noting that its owner had shown great technical proficiency and demonstrated to be an experienced DeFi user by trading on the first versions of dYdX and Oasis and voting on the first SushiSwap proposals.
The wallet appeared to be active around that time on the cryptocurrency exchanges Binance, FTX, and Coinbase, and it was a heavy DeFi user who invested millions of dollars in pioneering DeFi ventures, including Yearn Finance and Cream. Although the actions appeared to be “definitely someone from Alameda,” Igamberdiev claimed that Bankman-Fried himself was not likely to have committed the crimes.
The Rise and Fall of Bald
Traders hurried to buy Bald (BALD) tokens, which saw a market cap soar to $85 million late on Sunday. Some traders, like @cheatcoiner, made nearly $1.4 million from a $500 investment. Suddenly and without warning, BALD deployers began to withdraw millions of dollars worth of liquidity from the token’s trading pairs on Monday. This left thousands of investors stranded and led to a 90% drop in prices as holders fled the market.
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