Rumors Suggest Sam Bankman-Fried Behind Recent BALD Rug Pull

The BALD rug pull seemed to mark the end of the memecoin's saga on the Base layer-2 platform. However, on the morning of August 01, the crypto community on Twitter was abuzz with allegations, based on both linguistic and on-chain evidence, that former FTX CEO Sam Bankman-Fried might be behind the BALD token.

Linguistic Clues Linking BALD's Developer to Sam Bankman-Fried

Twitter detectives found similarities in the phrasing used in BALD’s Twitter posts and those of Sam Bankman-Fried. For instance, both accounts frequently use terms like "Correct," "nor," and "quite well."

These linguistic clues, while circumstantial, fueled speculation that Sam Bankman-Fried could be behind the BALD account.

On-Chain Evidence Related to the BALD Rug Pull Wallets

1. Address 0xccFa0530B9d52f970d1A2dAEa670ce58E4176389
   This wallet, believed to be associated with the BALD dev team, deposited over $12 million into the BALD liquidity pool. It has connections to several significant transactions in the past.
2. Address 0x000f7f22bfC28D940d4B68e13213aB17cf107790
   This wallet is linked to 0xccFa through mutual transactions and has connections to FTX, Alameda Research, and the UST depeg event.
3. Address 0x66634ADEA6Ff8f4213D48E8Fa5CdceF14b360b54
   Both 0xccFa and 0x000f use this wallet to deposit funds into Binance.

These connections suggest that the BALD rug pull might be linked to activities involving FTX and Alameda Research.

Early Involvement with SushiSwap

Address 0xccFa was very active on SushiSwap in its early days and participated in significant voting activities. This wallet withdrew $326.38 million from FTX to SushiSwap around the time Chef Nomi, SushiSwap's founder, rug pulled the DEX.

Interactions with Alameda Research

While 0xccFa did not interact directly with Alameda Research’s wallet, it was linked through wallet 0x000f, which had significant transactions with Alameda Research, indicating it was not a typical retail wallet.

Connections to the UST Depeg Event

Wallet 0xccFa deposited assets into Binance through 0x6663...0b54, which also received funds from 0x000f. Wallet 0x000f made large withdrawals of UST from FTX, contributing to the UST depeg event in May 2022.

Interaction with the Euler Finance Hacker

The wallet 0xccFa sent a message to the Euler Finance hacker, congratulating them and asking for the return of stolen funds, using language similar to that of Sam Bankman-Fried.

Alternate Theories

Some believe Sam Bankman-Fried is not behind the BALD rug pull. Tiffany Fong, a reporter, tweeted that Sam's current electronic devices are limited, making it unlikely he could create a shitcoin. Lawyers also argue that he is not in a position to engage in such activities.

Sam Trabucco, former CEO of Alameda, is another possible suspect. Igor Igambediev of Wintermute noted that 0xccFa might belong to a high-level Alameda employee, given its extensive DeFi activities and lack of FTT transactions, suggesting it could be linked to Trabucco instead.

Elon Musk’s Reaction

Elon Musk also weighed in on the controversy, adding to the community’s speculation.

Latest Updates on the BALD Developer’s Identity

On the evening of August 03, on-chain detective ZachXBT identified the possible real identity behind the BALD rug pull. By analyzing transaction history, ZachXBT concluded that the BALD developer might be associated with the Twitter account "Milkyway."

Conclusion

The information surrounding the 0xccFa wallet and the BALD rug pull highlights the complexities of on-chain investigation. While theories abound, tools like Etherscan, DeBank, and Arkham Intelligence allow users to verify data and draw their conclusions about the identities involved.