A bombshell accusation has rocked the crypto world: an on-chain investigator claims Vitalik Buterin, the founder of Ethereum, is connected to the massive 2016 Gatecoin hack, which resulted in losses exceeding $500 million.
The Gatecoin Hack Allegations
TruthLabs, a well-known crypto investigator on X (formerly Twitter), alleges that the Ethereum Foundation, led by Buterin, transferred funds to the hackers’ wallet. The investigator’s analysis points to three key sources funding the hackers’ wallet:
- Ethereum Foundation Wallet: Funds directly from a wallet owned by the Ethereum Foundation.
- Genesis Block 0: Money from Ethereum’s initial Genesis Block, which interacted with wallets controlled by Buterin and a Poloniex account.
- Another Genesis Block 0 Wallet: Linked to Ethereum developer Vlad Zamfir.
TruthLabs suggests this happened about a month before the Foundation was reportedly facing financial difficulties, preceding another major Ethereum event, the DAO hack. Neither Buterin nor the Ethereum Foundation has responded to these allegations.
The Silk Road Connection
The accusations don’t stop there. TruthLabs also claims that Bitcoin seized from the Silk Road, a dark web marketplace, helped fund Ethereum’s 2014 Initial Coin Offering (ICO) and its associated Bitcoin wallets. The investigator alleges that funds from Silk Road and Mt. Gox were instrumental in establishing the Ethereum Foundation.
TruthLabs criticizes Buterin for not publicly supporting the release of Ross Ulbricht, the founder of Silk Road, who received a life sentence without parole. TruthLabs calls Buterin’s actions a “stain on the word integrity,” accusing him of hypocrisy for allegedly benefiting from Silk Road funds while not advocating for Ulbricht’s release.
The Community Awaits Answers
This explosive investigation has left the crypto community buzzing, eagerly awaiting a response from Buterin and the Ethereum Foundation. The allegations are serious and, if true, would significantly impact the reputation of Ethereum and its founder.
