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On-chain Expert Probes the Ethereum Foundation’s Link to the Filecoin ICO

A blockchain detective, who goes by the pseudonym @BoringSleuth on platform X (previously known as Twitter), has voiced suspicions regarding the origins of the widely-acknowledged blockchain venture, Filecoin (FIL), and its initial coin offering (ICO).

In a fresh exposé unveiled on X, BoringSleuth chronicled the methodology of their probe, which commenced with the identification of wallets linked to Filecoin and analyzing patterns in their funding transactions.

Delineating their investigative process, they noted, “My investigation set out by identifying wallets, initiating with the one that transferred the maximum amount of ETH to Filecoin. I persisted down this path until I had delved considerably deep.”

As the investigation advanced, BoringSleuth discerned certain recurrent patterns. They said, “Certain trends began emerging, both in the manner the wallets received funds, the entities they engaged with, their interaction styles, and the probable ownership of these wallets.”

Delving deeper into the details, @BoringSleuth unearthed that numerous wallets transferring Ethereum (ETH) to Filecoin’s ICO wallet exhibited peculiarly lengthy decimal figures.

The detective pinpointed a total of 1,255 transactions characterized by these distinctive numerical sequences.

Breaking it down further:

  • 296 of these transactions were from wallets ending in 937,
  • 228 from wallets concluding in 967,
  • 179 from those ending with 697,
  • 111 from wallets with the final digits being 696.

The residual 106 transactions, although each had unique terminal trios of digits, uniformly exhibited the long decimal number patterns in question.

BoringSleuth posited that these consistent patterns weren’t coincidental but rather a deliberate strategy, potentially orchestrated by the founders and the venture capitalists (VCs) associated with the ICO. The intent behind this, the investigator claims, was to fabricate an illusion of widespread interest.

The allegation suggests that this ruse was designed to mislead investors by making them believe there was a massive surge in participation. The underlying motive, as per BoringSleuth, might have been to offload tokens onto uninformed participants later.

BoringSleuth explained that such unique codes or patterns are often deployed to systematically categorize and track the contributors and their respective donations. In their own words: “If you aim to project an impression that a multitude of investors are eagerly participating in your token sale – especially when in reality it’s just a small circle of VCs planning to later capitalize on unsuspecting investors – then these codes serve as markers to aggregate and discern who contributed what.”

Key Ethereum Foundation Members Involved in Filecoin ICO

The revelations in the report took an even more intriguing turn, drawing connections to notable personalities and organizations within the crypto realm. Most notably, Ethereum’s founder, Vitalik Buterin, and the Ethereum Foundation were implicated in these alleged activities.

Furthermore, BoringSleuth hinted at the participation of the CCP Group, Cumberland, and Prometheum. The Filecoin ICO was even starkly labeled as a Ponzi scheme by the investigator.

To authenticate these allegations, BoringSleuth detailed their methodology: by categorizing these wallets and comparing them against the “Truth Labs Database of Networks and Wallets,” they managed to determine the ownership of these wallets, thus linking them to various entities believed to have participated in the ICO.

The revelations made by the report have certainly struck a chord in the crypto community, causing significant buzz on social media platforms. The findings have reportedly raked in about 150k views on platform X.

BoringSleuth has hinted at future disclosures, suggesting that there’s more beneath the surface waiting to be unveiled.

Despite the turbulence and contentious discussions surrounding its ICO, Filecoin’s ascent in the crypto world has been undeniable.

The project, envisioned as a decentralized digital storage network that seeks to forge a worldwide marketplace for data storage and retrieval, boasts a formidable market capitalization, surpassing $1.4 billion. This places Filecoin in the 32nd spot among the world’s leading cryptocurrencies.

At present, Filecoin’s native cryptocurrency, FIL, holds a trading value of $3.26, showing minimal fluctuations over the previous 24 hours.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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