On Thursday, ZachXBT, a cyber detective in the area of decentralized finance (DeFi), gave Taiwan’s prominent musician and blockchain personality Jeff Huang (also known as Machi Big Brother) 10 different cryptocurrencies. I blamed him for cheating on the project. Known outside Taiwan as an avid collector of Bored Ape Yacht Club non-fungible tokens (NFTs), Machi Big Brother owns an estimated $ 8.26 billion worth of collections at the peak of the crypto market last year. I did.
This is incorrect information. If he is not anonymous, I will sue him for defamation.
— Machibig Brother (@machibigbrother) June 16, 2022
Although numerous, the main head of the allegations was the 22,000 Ethereum (22,000 Ethereum) that occurred during the first coin offering of tokens from Formosa Financial (FMF), Taiwan’s financial management platform built for blockchain companies. It is suspected that Huang is involved in the whereabouts of ETH). 2018.
After the ICO, the price of FMF tokens fell sharply. This is partly due to the tough bear market for cryptocurrencies at the time. Jeff Fan was an adviser to the company before he eventually abandoned his role. In 2019, Taiwanese news agency Block Tempo reported that Formosa Financial has merged with the Philippines-based crypto exchange CEZEX and ICO crowdfunding syndicate Katalyse.io.
As ZachXBT said, on June 22, 2018, just three weeks after the FMF ICO, two withdrawals of 11,000 ETH were made from Formosa Financial’s financial wallet. At the same time, several Formosa Financial executives allegedly approved the company’s share buyback.
There is significant uncertainty regarding the above 22,000 ETH spill. ZachXBT claimed that the funds were first sent to former Formosa Financial CEOs George Hsieh and Jeff Huang, and then to a wallet address allegedly linked to their peers. However, DeFi detectives did not support their claim with evidence of how they came to associate the aforementioned address with Jeff and George.
On-chain data can only confirm that on June 22, 2018, two withdrawals of 11,000 ETH were made from what appears to be Formosa Financial’s finances. There is additional knowledge to establish a connection between a blockchain transaction and the actual recipient. You will need customer (KYC) information or doxing information. For example, such a link can be established by comparing the recipient’s address with the address in the profile of the Twitter Verified (if identity verification is generally required) user’s profile displaying that address. However, no such evidence existed in the ZachXBT analysis.
Huang, whose public wallet went online just about two years ago, denounced Zach XBT’s allegations as false information. Cointelegraph was unable to independently validate Huang’s alleged role in other projects. This is because the DeFI detective report did not provide the KYC information needed to link the wallet address to Huang. However, Huang said in an interview with local news agency Heaven Raven earlier this year about Mithril and Cream Finance, both projects mentioned in the ZachXBT report: The excerpt was translated by Cointelegraph:
“In 2018, I [decentralized social media platform] Mithril. We also rolled out community mining and encouraged users to upload photos and videos of mining rigs. But it was too far ahead of the times, and we were ignorant of many details. As a result, the price of tokens has collapsed. Unfortunately, after a lot of experience, I moved to Cream Finance. “
Cream Finance is the leading DeFi lending platform that was hit by a series of flash loan exploits last year.It has I vowed to repay the user at the protocol fee until the lost principal is recovered. Regarding his involvement in the project, Huang said:
“At that time, I lost nearly $ 140 million on exploits. Then I tried to refund my clients. Now Cream is steadily making a profit. In November 2020, I managed Cream Finance andre Cronje. Transferred to... Later, due to the Coronabrius pandemic, I was mostly at home and began to focus on non-fungible tokens. “
Jeff Fan completely denied his allegations in a Twitter post on Thursday, saying, “This is false information. If he wasn’t defamation, I would sue him for defamation.” ..
