Bald memecoin has been on the agenda recently, with its market value of $85 million falling to zero. Analysts investigating the event found that those who manage the altcoin project are associated with the FTX event. On-chain data has cast doubt on the developers’ affiliation with FTX subsidiary Alameda Research.
Wintermute researcher Igor Igamberdiev found that the Bald deployer is linked to an old wallet (0x000f7f) affiliated with Alameda Research. This link came about when Bald deployer address and 0x000f7f shared the same deposit account on FTX Exchange.
(Bald deployer is the smart contract address used to generate the memecoin on the mainnet.)
The Connection Between Bald and FTX!
Igamberdiev also found that the altcoin project interacted directly with a second wallet address from Alameda Research. The second address, a major trader at dYdX, also played a role in the initial SushiSwap transactions. The wallet has also spent significant money raising tokens on platforms such as Compound, SushiSwap, Cream, and Stargate.
Wintuermute official believes these activities are compatible with typical DeFi transactions of FTX. The connection of the altcoin wallet in question with the FTX exchange is among the possible scenarios.
Igamberdiev’s findings do not prove that Alameda Research distributed the Bald token. However, it is a fact that there is a strong connection between the altcoin project and Alameda. The research by the Wintermute official was highly appreciated by the cryptocurrency community.
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