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Ethereum Controversy: Allegations Against Vitalik Buterin and the Ethereum Foundation
Amid Grayscale’s ETF developments, the crypto community has been rocked by allegations implicating Ethereum co-founder Vitalik Buterin and the Ethereum Foundation in the 2016 Gatecoin hack. The claims, brought forward by TruthLabs, a prominent on-chain investigator, suggest that Buterin and the Foundation may have played a role in funding the hackers responsible for the $500 million breach.
According to TruthLabs, the primary wallet used by the Gatecoin hackers received Ethereum (ETH) from three distinct sources: a wallet owned by the Ethereum Foundation, a wallet linked to Ethereum’s Genesis Block 0 account, and a third wallet allegedly connected to Vlad Zamfir, a core Ethereum developer. The investigator further posits that the hack occurred 30 days before the Ethereum Foundation was projected to exhaust its funds, raising questions about the timing and motives behind the alleged transactions.
The Gatecoin hack, which preceded the infamous DAO exploit by a few weeks, remains one of the most significant security breaches in crypto history. TruthLabs’ findings, if substantiated, could have far-reaching implications for Ethereum’s reputation and the broader blockchain industry. However, as of now, neither Buterin nor the Ethereum Foundation has issued an official response to the allegations.
