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News

Analyst Nansen: Address Of BALD Deployer Closely Linked To Alameda Collapse

August 1, 2023 - Around 3 mins mins to read

Key Points:

  • Analyst Nansen says controversial memecoin implementer BALD with close ties to Alameda Research has collapsed.
  • These addresses made 400 transactions with USDT blacklisted addresses.
  • The new layer 2 memecoin BASE is facing a lot of rug pull questions after a sudden 99% price drop and its flagship DEX Leetswap was hacked.
As discovered by the Nansen analyst, the $BALD deployer’s ETH address used interacted with Andrew Keys and Alameda Research.
Analyst Nansen: Address Of BALD Deployer Closely Linked To Alameda Collapse

Nansen analyst Andrew T tweeted that after browsing Bald deployer’s ETH address, he found that Binance deposit addresses starting with 0x6663 and active addresses starting with 0x000f are related to Andrew Keys and Alameda Research.

Andrew T said the address is affiliated with many exchanges, but it must have a strong relationship with Alameda Research. These addresses have interacted with every major exchange. They made 400 transactions with USDT blacklisted addresses and are now trying to figure out which ones. After searching, it was discovered that the BALD memecoin implementer used Wintermute OTC in the past.

Currently, the community is buzzing about BALD news after the suspicious action of the person behind this token on July 31 when withdrawing 10,705 ETH ($20 million) and 224.6 million tokens from the BALD/WETH liquidity pool on the DEX. Base’s LeetSwap, reduces the value of tokens by 85% in seconds.

Denying the above information, BALD’s account on Twitter corrected that he did not do that and added 400 ETH ($746,000) and 18M tokens to the pool, but the volume was not too large compared to the withdrawn transaction.

Contrary to what was said, the BALD/WETH pool once withdrew all of its liquidity. As a result, the value of this memecoin dropped by 98% within 3 hours and returned to the pre-pump price zone. Currently, there is only $61,000 of liquidity left for the token with a market cap of $4.8 million.

Analyst Nansen: Address Of BALD Deployer Closely Linked To Alameda Collapse
15m BALD price chart. Source: DEX Screener

The crypto community is still monitoring the wallet of the BALD contract deployer, which is holding more than 12,400 ETH withdrawn from the pool, worth more than $23 million. Since there is no convenient cross-chain bridge to disperse money, the community is waiting to see what the next rug puller will do.

Not stopping there, this morning, the number 1 exchange on BASE of Leetswap also announced that it may be being exploited causing it to suspend trading to investigate the report of a security vulnerability.

Wintermute researcher Igor Igamberdiev said that the vulnerability comes to a function in the code of the pools on LeetSwap, which allows users to withdraw all the liquidity in the pool in a few simple steps.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

News

Analyst Nansen: Address Of BALD Deployer Closely Linked To Alameda Collapse

Key Points:

  • Analyst Nansen says controversial memecoin implementer BALD with close ties to Alameda Research has collapsed.
  • These addresses made 400 transactions with USDT blacklisted addresses.
  • The new layer 2 memecoin BASE is facing a lot of rug pull questions after a sudden 99% price drop and its flagship DEX Leetswap was hacked.
As discovered by the Nansen analyst, the $BALD deployer’s ETH address used interacted with Andrew Keys and Alameda Research.
Analyst Nansen: Address Of BALD Deployer Closely Linked To Alameda Collapse

Nansen analyst Andrew T tweeted that after browsing Bald deployer’s ETH address, he found that Binance deposit addresses starting with 0x6663 and active addresses starting with 0x000f are related to Andrew Keys and Alameda Research.

Andrew T said the address is affiliated with many exchanges, but it must have a strong relationship with Alameda Research. These addresses have interacted with every major exchange. They made 400 transactions with USDT blacklisted addresses and are now trying to figure out which ones. After searching, it was discovered that the BALD memecoin implementer used Wintermute OTC in the past.

Currently, the community is buzzing about BALD news after the suspicious action of the person behind this token on July 31 when withdrawing 10,705 ETH ($20 million) and 224.6 million tokens from the BALD/WETH liquidity pool on the DEX. Base’s LeetSwap, reduces the value of tokens by 85% in seconds.

Denying the above information, BALD’s account on Twitter corrected that he did not do that and added 400 ETH ($746,000) and 18M tokens to the pool, but the volume was not too large compared to the withdrawn transaction.

Contrary to what was said, the BALD/WETH pool once withdrew all of its liquidity. As a result, the value of this memecoin dropped by 98% within 3 hours and returned to the pre-pump price zone. Currently, there is only $61,000 of liquidity left for the token with a market cap of $4.8 million.

Analyst Nansen: Address Of BALD Deployer Closely Linked To Alameda Collapse
15m BALD price chart. Source: DEX Screener

The crypto community is still monitoring the wallet of the BALD contract deployer, which is holding more than 12,400 ETH withdrawn from the pool, worth more than $23 million. Since there is no convenient cross-chain bridge to disperse money, the community is waiting to see what the next rug puller will do.

Not stopping there, this morning, the number 1 exchange on BASE of Leetswap also announced that it may be being exploited causing it to suspend trading to investigate the report of a security vulnerability.

Wintermute researcher Igor Igamberdiev said that the vulnerability comes to a function in the code of the pools on LeetSwap, which allows users to withdraw all the liquidity in the pool in a few simple steps.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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