Crypto on-chain analyst ZachXBT has identified an individual who he believes to be the BALD deployer. The memecoin garnered a lot of attention this past week after rug pulling over $25 million in liquidity.
ZachXBT’s post shows the relationship between the BALD deployer and someone who goes by the handle ‘milkyway16eth’ on Twitter. He also said that the latter transferred $50,000 in USDC to a ‘Mike’ on Nov. 25, 2021.
Is Milkyway16eth Responsible for BALD?
ZachXBT noted that the BALD deployer sent the Milkyway address $25.7 million across 17 transactions. The $50,000 that was sent to Mike was for a bet, though there aren’t many more details on this.
ZachXBT also pointed to a tweet by Milkyway16eth in which the latter said that the BALD contract was “legit.”
Another development that the crypto community is talking about is the fact that milkyway16eth has made his Twitter account private. It remains circumstantial, but all eyes are on these accounts.
The BALD meme token made a huge splash when it was first announced, pumping by a staggering 350%. However, it dumped just as quickly after Coinbase announced a layer 2 solution called Base.
The developers clearly carried out a rug pull on the token, with $25.6 million of dollars in liquidity being removed. The drop in value was about 92%, though there were sure to be some who made away with about a 3,000% increase in value before the dump took place.
Is Sam Bankman-Fried Connected to BALD?
Amid the analysis of what has gone down with the BALD rug pull, some initially suggested that Sam Bankman-Fried might have had something to do with it. Several reports have talked about how the $100 million might be linked to Bankman-Fried and Alameda Research.
Analysis of blockchain records shows that ETH has moved between the BALD project and FTX. In fact, it reached the point where users on social media were convinced that Bankman-Fried may be behind the BALD memecoin.
Industry analyst Colin Wu used Arkham to determine the address had “frequent and large transfers of funds with the FTX.” He added that another address of the owner had “$20 million in funds transactions with Alameda-related addresses.”
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