- The Ethereum Foundation faces serious allegations of being linked to the 2016 Gatecoin hack, according to a forensic analyst.
- TruthLabs and Steven Nerayoff point to transactions that would directly connect the Ethereum Foundation to the hack.
The Ethereum Foundation is is under suspicion after forensic blockchain analyst TruthLabs, backed by former Ethereum advisor Steven Nerayoff, leveled strong accusations about its alleged involvement in the 2016 major Gatecoin hack.
In a detailed analysis, TruthLabs exposes a series of Ethereum transactions and wallet addresses that it claims connect the Ethereum Foundation to the hack. Particular attention is placed on four Ethereum addresses, with 0x1342a0 being the epicenter of the allegations.
TruthLabs links Ethereum Foundation to hacking.
The Gatecoin hack, which took place between May 9 and May 12, 2016, preceded the famous DAO hack and occurred at a time of turbulence in the crypto market. TruthLabs breaks down the activities of address 0x1342a0 prior to the hack, evidencing transfers and contracts that it says point to Ethereum Foundation involvement.
Key to these allegations lies at address 0x556b, which TruthLabs says received funds directly from the Ethereum Foundation’s main wallet and sent them to hacking address 0x8266 at crucial times. This finding establishes a direct financial link between the Ethereum Foundation and the alleged Gatecoin hackers.
The Ethereum Foundation Connection → Source: X @BoringSleuth
The article also speculates on the possible motive behind this alleged involvement, suggesting that the Ethereum Foundation may have faced a financial crisis at the time, projecting to run out of funds by June 2016.
Steven Nerayoff, backing up these allegations, highlights the seriousness of the issue and the need for answers from the Ethereum Foundation. He warns that silence could be interpreted as an admission of guilt, generating an urgent call for accountability.
So far, the Ethereum Foundation, including prominent figures such as Vitalik Buterin and Joseph Lubin, has remained silent in the face of these allegations. The lack of response has fueled speculation in the crypto community, intensifying calls for a deeper and more transparent investigation.
This scenario places the Ethereum Foundation at a crossroads, facing the need to address the allegations in a clear and forceful manner in order to maintain the trust of the crypto community. Lack of clarity could have significant repercussions on its reputation and the overall perception of the ecosystem towards this pivotal entity in the cryptocurrency world.
