Cryptocurrencies are notorious for being the cause of scams like the Bitcoin scam in November Instagram users shooting “hostage-style videos”.
However, investors were still upset when they recently learned that the co-founder of the multi-billion dollar cryptocurrency protocol DeFi Wonderland was found to be a convicted scammer. CoinDesk.. On Thursday morning, blockchain detectives went to Twitter and announced that they had discovered that “Sifu,” a core member of DeFi Wonderland’s founding team, was actually Michael Patryn.
Patryn is a longtime cereal scammer and is believed to be the co-founder of Quadriga CX. QuadrigaCX is a failed Canadian crypto exchange that was acting as a simple Ponzi scheme, according to state regulators.
“0xSifu is Michael Patryn, co-founder of Quadriga CX.” Tweeted Zack, self-proclaimed on-chain sluice.. “If you’re unfamiliar, it’s a Canadian exchange that collapsed in 2019 after its founder Gerald Kotten disappeared for $ 169 million.”
Patrin is allegedly convicted many times. His crimes include not only computer fraud, but also banking and credit fraud.But this did not stop Daniele Sestagari, the founder of DeFi Wonderland, because he worked with him even though he found his identity a month ago.
After Patryn’s identity was also published online, Setagalli Next Tweet: “I want everyone to know that I was aware of this and decided that my personal past would not determine their future. I value the time I spent together without knowing his past above all else. I chose that. “
This tweet was followed by a statement revealing how Sestagari came to know Patrin’s identity. He also said he asked Patrin to resign after further consideration of the issue.
“It took me a while to look back, so he decided he needed to resign until a confirmation vote was taken. Who manages the finances, not me or any other Wonderland team? I have a say in about, “writes Sestagari. ..
This case seems to resolve itself, but Patryn does no further damage. It raises questions about the level of anonymity that exists in the DeFi space. When fraudsters and fraudsters are involved, the risks far outweigh the benefits, and this space emerges as an area of attractive involvement for those who have previously violated the law.
Does transparency mean that in a DeFi space, just like in real life?