The unprecedented rise in the value of the altcoin project BALD has caught the attention of crypto analysts around the world. It caused an investigation to be launched against its mysterious developer. The token witnessed a staggering 30,000-fold increase in value. Therefore, it attracted the attention of both investors and enthusiasts. However, recent developments, including the withdrawal of 6,800 ETH from the liquidity pool, have triggered suspicions and rumors surrounding the identity of the BALD developer. Here are the details…
There is a connection claim between the popular altcoin project of recent times and SBF
Analyst Adam Cochran, known for his work in the crypto space, has emerged as one of the leading voices speculating about the potential developer behind BALD. Cochran pointed to popular crypto personality SBF (Sam Bankman-Fried) and his famous trading firm Alameda Research. “I’m 99 percent sure the BALD developer is someone from FTX, Alameda or SBF. Some people who have worked at FTX think so too. The wallet history points to that,” he said.
Ok yup it’s SBF or another Alameda person.
Only a handful of people had access to Serum Twitter account.
And other than SBF senior harem, nearly none of them were around at the time of Sushiswap votes.
So I think SBF just rugged people *again* https://t.co/EHQxwwPSpi
— Adam Cochran (adamscochran.eth) (@adamscochran) July 31, 2023
An anonymous investor known on Twitter as Hype added fuel to the fire, highlighting the similarities between the developer’s posts and those of SBF. On-chain moves have raised suspicions by suggesting possible links between the BALD developer and their past activities, such as SBF being one of the first to vote on Sushi proposals, using VPNs for internet access. Reddit users did their own research and revealed that the BALD developer’s wallet received crypto transfers of around 12,300 ETH from both FTX and Alameda over the course of two years.
Could SBF really be behind BALD?
Surprisingly, one Twitter user claimed that one of the addresses that transferred funds to the BALD developer’s Binance wallet was linked to an account that triggered the UST instability of Terra LUNA, which suffered a significant collapse the previous year. However, speculation surrounding SBF’s involvement has raised concerns given its current legal status. The SBF is placed under house arrest and strict restrictions are placed on the use of technology. In fact, the former FTX manager was limited to using a flip phone. Wintermute’s director of research, Igor Igamberdiev, acknowledged the possibility of an Alameda connection, but believed it was unlikely to be Bankman-Fried himself.
2/12
I started the morning by making sure that he is not a Coinbase insider, despite the mention of the address (0xccFa05) as the largest holder on DeFi governance forums
Upon closer inspection, one could find that cbETH was not minted by Coinbase, but was bought on Uniswap v3 pic.twitter.com/PBDncw9Jnn
— Igor Igamberdiev (@FrankResearcher) August 1, 2023
The meteoric rise of the BALD token has captivated the crypto community, prompting the intriguing question of who stands behind its development. While on-chain data points to possible links with Alameda Research and SBF, the true identity of the developer still remains unclear. As the research continues, the crypto world is eagerly awaiting answers that will unravel the mystery behind the extraordinary BALD token increase.
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