Wonderland is embroiled in a significant controversy relating to the identification of its treasury manager 0xSifu.
Key Takeaways
- 0xSifu has been acknowledged as Michael Patryn, the co-founder of QuadrigaCX.
- Wonderland co-founder Daniele Sestagalli has confirmed that he has identified of 0xSifu’s shady past for one month.
- Sestagalli added that he became in opt of 0xSifu stepping down.
0xSifu, the pseudonymous treasury manager of the tremulous Avalanche-based protocol Wonderland Money, has been acknowledged as Michael Patryn, a used convict and co-founder of the collapsed cryptocurrency alternate QuadrigaCX.
0xSifu Identified as Monetary Prison
Wonderland’s treasury manager is a used financial criminal.
The revelation of 0xSifu’s identification has introduced about a significant amble all around the cryptocurrency replace. On the present time, it emerged that 0xSifu is Michael Patryn, the co-founder of the ailing-fated Canadian cryptocurrency alternate QuadrigaCX. Patryn has been convicted of economic crimes within the past.
QuadrigaCX made headlines worldwide in 2019 after its operator (and Patryn’s used partner) Gerald Cotten vanished with $169 million of investors’ funds.
Following the scandal, Patryn became acknowledged as Omar Dhanani, a criminal who spent 18 months in U.S. federal jail on identification theft charges in 2005.
Per a Bloomberg file, Dhanani changed his title to Omar Patryn in 2003. 5 years later, he all all over again changed his title to Michael Patryn. He later grew to alter into moving within the crypto residence, launching QuadrigaCX and extra recently joining the Wonderland workers. Wonderland is a fork of the the in vogue rebasing stablecoin protocol OlympusDAO built on Avalanche.
An on-chain analyst working beneath the pseudonym zachxbt made the revelation in a Thursday tweet (in most up-to-date months, zachxbt has used Twitter to list plenty of unsightly actors within the residence). zachxbt reported that they’d “confirmed” 0xSifu’s identification after an on-line conversation with Daniele Sestagalli, the co-founder of Wonderland and the utterly different so-known as “DeFi 2.0” protocols Abracadabra Money and Popsicle Finance.
Following the disclosure, Sestagalli published a assertion confirming that 0xSifu is Michael Patryn. In a Mirror put up, he wrote:
“To summarize what has took place, notice came out that Sifu who has been working the Wonderland Treasury, beforehand became a co-founder of QuadrigaCX, and has had utterly different occurrences within the past.”
In the identical put up, Sestagalli mentioned he has identified 0xSifu’s dodgy past for a month, but made up our minds to work with him regardless. He also added that the Wonderland community became “very divided” over his decision to retain 0xSifu as the treasury manager after his identification had been printed. He mentioned that he’s in opt of removing 0xSifu from his feature. “I web made up our minds that he must step down till a vote for his affirmation is in problem,” Sestagalli mentioned.
Meanwhile, 0xSifu has remained soundless.
The news comes amid an ongoing PR crisis for Wonderland, whose native rebase token TIME has been exhausting hit amid volatility all around the market. It suffered a liquidation cascade Wednesday and has plummeted further on the present time. It’s currently trading at round $482, over 96% wanting its all-time high.
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