Wonderland, behind the metaverse coin project TIME, voted today to invest $25 million of its treasury in Sifu’s Vision. Sifu’s Vision is a project started by Wonderland community member and convicted fraudster Michael Patryn. It looks like Patryn had enough TIME tokens to tip the vote in her favor. It made a profit of at least $23 million on the investment. Here are the details…
Voted in favor of the fraudulent name in the Metaverse coin project
Wonderland voted to invest $25 million in Sifu’s new cryptocurrency project. However, it seems that Sifu has enough tokens to turn the vote in his favor and make a profit of at least $23 million. After a week of deliberation, the Wonderland community voted today to purchase $25 million worth of SIFU tokens. The acquisition was described by the proposal as an opportunity for the community to use a “[small] portion of the treasury” to continue to leverage Sifu’s “management and communication” skills.
The offer to invest in Sifu’s Vision, presented by 0xSifu itself, was accepted by the affirmative vote of 321,000 TIME tokens. This corresponds to 89 percent of the votes cast. Owners of 39,000 tokens, 11 percent, did not accept the offer. But the votes show that 0xSifu is the second largest voter. 51,000 TIME tokens contributed to the vote through its official account. This was enough to make the offer pass.
Patryn’s history
The TIME token was trading at around $33 to $25 throughout the week. Therefore, securing $25 million only cost Sifu a maximum of $1.6 million. Wonderland is an Olympus DAO fork built on the Avalanche Blockchain. The project, led by Daniele Sestagalli, fell dramatically in January after it was revealed that treasury community member 0xSifu was actually convicted of fraudster Michael Patryn.
Patryn is the co-founder of the crypto exchange QuadrigaCX, which was shut down after Patryn’s former partner Gerald Cotten disappeared with over $169 million in investor funds. Remarkably, Patryn continued to participate in the Wonderland community and the wider crypto space as 0xSifu even after her identity was revealed. Sifu’s Vision is Patryn’s latest cryptocurrency venture. According to the official website, the only benefit of the SIFU token is to make money.
Meanwhile, law enforcement is accelerating worldwide cryptocurrency laundering and fraud prevention efforts. As we reported on Kriptokoin.com, the FBI recently added the famous fraudster Ruja Ignatova to its Most Wanted list. Meanwhile, Wonderland’s value fell by 10 percent. The cryptocurrency is currently changing hands at $27.72.
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