#Ethereum: Vitalik Buterin Alleged To Have Benefitted From 2016 #Gatecoin Hack

[00:00:00] Out of Psycho-LipDate

[00:00:30] I'm sharing what they said I'm saying these are allegations I don't see evidence at this point But the allegations are pretty strong You're gonna need to make up your own mind Well why are you talking about it? Because the guy's a fucking idiot who's been dumping on your head I didn't understand how deep the rabbit hole went I've shared various different coverages This one came up and I thought it was good Because it hopefully will highlight What I've been saying to be the truth

[00:00:59] Which is the guy's a fucking idiot that doesn't care about you And so you can make smarter decisions about what you do I can't tell what you do with your cash But hopefully you're gonna be smarter hearing what happened Recent reports came out Allegedly, Idiot Vintalik was related to And in some way responsible for I said some way so don't come at me In some way responsible for Some of the damage with the Gatecoin hack

[00:01:28] If you're one of those who got into cryptocurrency during the run up of 2021 Because you're one of those who buys on the green And so you were not in for a long period of time You have no idea what the Gatecoin hack was The Gatecoin hack I'm gonna give you the very high level And for those that want to come back and say it's wrong I challenge you to go and do your own damn research Because you're gonna see that everything I say is the truth Of what was happening at the time More came out afterwards

[00:01:56] But at the time what I'm gonna say was the truth So, the Gatecoin hack You may or may not know the history of this crap Which is part of the reason many of the large players Have not gone full scope into cryptocurrency Because of everything that happened with Ethereum specifically Ethereum has a very storied history of sketchy, scammy, shady behaviors I would argue

[00:02:24] Ethereum was way more shady than even Bitcoin was in its earliest days You might have heard things like the DAO The DAO preceded what we now know of as Ethereum I'm sure you know about Ethereum Classic Ethereum Classic is actually the original form of Ethereum They branched it off, they forked it off into this new Ethereum The one that got more money dumped into it Due to sketchy coordination with some rich players

[00:02:52] Those rich players then later would dump out as I covered Because Ethereum's all-time high is about $4,800 bucks And as you see, it's nowhere near that That's because people got out of it when they saw that the idiot was dumping on your head Ethereum Classic has never gotten anywhere close to what Ethereum did Primarily because of some of this sketchy coordination But also because Ethereum Classic, the regular is basically a crap chain It sucks as a chain Step away from all that there

[00:03:21] Prior to what happened to the DAO So the DAO gets hacked and breached Which is what spurred the fork Prior to this then You have the Gatecoin 2016 Gatecoin hack The Gatecoin, when we say Gatecoin Was an actual exchange The exchange itself got breached At the time, they believed that the scope of it was very not so large Roughly about, you know, $8 million $2 million at first $8 million determined later

[00:03:50] But there were downstream impacts that increased the number To where people came up with estimates Somewhere in the neighborhood of $500 million Not necessarily the 3 or the 8 previously believed At the time of the hack People didn't get their money back with this You have to consider Back then, there was less known About security and protections And vulnerabilities and everything And so the concept of protections of wallets Simply wasn't there

[00:04:18] A lot of what we take for granted today Simply didn't exist So there's been evolutions In a lot of the security things you see now I'm not referring to KYC I'm talking about things like You know, private keys being hidden by the wallets And that sort of thing A lot of the things we take for granted now Are byproducts of what happened on the gate coin It arguably helped change the industry For the better for security But what it did is it It helped kill the business temporarily Prior to the run-ups we would get Starting in late 2019

[00:04:48] So just to give the history of what that is When I say gate coin It was an exchange It got breached prior to the DAO Which is at the infant stages Of what we would now know as Ethereum That's the basics High levels of what we're dealing Idiot Vitalik of course Is part of the Ethereum foundation And so he's arguably a spokesperson For what we know of as Ethereum now And of course he's an idiot Because he talks out of his ass And he doesn't like President Trump Well, Truth Labs Which is an on-chain rather

[00:05:17] Sleuth and investigator Came out on X And made some direct accusations Against the idiot Apparently they did some analysis Going back And some people had talked about You know, what was happening with this What was happening with the The DAO hack itself What was happening with the Bitcoin split off And Bitcoin split to Bitcoin SV And Bitcoin Cash And there's still ongoing Like these have not gone away There's still people trying to understand What happened with these fork offs

[00:05:47] Just like with Do rug pull A.k.a. Do Kwan And the Luna ecosystem They've done this analysis To try to determine what happened And they've tied it back And what spurred them To start looking deeper into this Was him dumping on your head And some of the piss poor decisions He's been making And him kicking it over To proof of stake Instead of proof of work Which arguably killed mining Profitability I can directly attest to that I digress There's a very comprehensive image About this

[00:06:16] But the simple statement Of what they're alleging Is that idiot One of idiot Vittalic's wallets Was a benefactor Of this breach that happened That it received some of these funds Again, this is an allegation I don't have any evidence But they have a graph A visual graph That kind of shows Here's where we saw Some of this money movement Happening during back at that time And it was talking It talks in the context Of the ETH Foundation

[00:06:45] And you know now That it's, you know Vittalic.eth, right? He named it This was prior to the name So you couldn't determine That it was him Without doing deeper On-chain analysis Which is what this lab Allegedly did To confirm At least to their satisfaction That he was somehow involved As a benefactor To some of the illicit funds That were shifted During this whole situation He's not making an allegation That idiot was the one That did it He's saying that idiot It appears that

[00:07:15] His wallet was a benefactor Of the illicit funds Take from that what you will I'm gonna close this And not go any further I want you to do Your own research on this This person's analysis Is on x At boring sleuth That's his at symbol At boring sleuth You can check that out It was posted on January 24th The image is gonna be A little bit difficult To follow But he gives a very nice post And he essentially talks about The different funding wallets He talks about the Poloniex wallet That was involved

[00:07:45] He talks about the Gatecoin hackers wallet And how there was This interplay And it involved The core ethereum developer Vlad Zanfir And he's tying it all together But he's basically It's inference He doesn't have direct evidence Other than this transition That was happening And saying that No, Vidalik was in some way Involved He doesn't directly say Cause he doesn't do Any of that stuff He's saying the idiot Was involved in some way To one of those hacks That was one of the origins

[00:08:14] To the disruption Of the business That happened where We had the steep decline Prior to the climb again And it connects back When I said The guy keeps dumping On your head And has done for years The guy's a sketchy Fucking moron And I hope you use this And really study it And make up your own mind I don't understand About what you do With your cash But I'm just simply saying He's a sketchy fucking moron That's all I'm saying I'm not accusing them Just like they're not accusing anything But it's very interesting And fascinating And I If nothing else

[00:08:44] I'm hoping I'm hoping That this will cause people To realize The Ethereum chain Has been influenced Since the fork It basically It's been influenced To the negative To benefit certain people's pockets And line this idiot's pockets That's essentially what it is Is a very sophisticated Pump and dump Because it's never gotten back To its all time high And there was collusion With different developers To help pump certain projects And collusion With certain memes Because remember

[00:09:13] There was the allegation On that Laker crap Where they said Idiot Vidalic Was part and parcel To the rise Of a lot of these Scam garbage tokens That would happen On the Ethereum chain In 2021 So it all kind of Comes together In one summary statement Which is The guy is a fucking moron And he's a scammer Not as directly scamming you But he's coordinating it In such a professional way That it simply lines his pockets Evidenced by the amount of dumps

[00:09:42] He's doing on you Regardless of the new girlfriend As people claimed And he says The list is The list is The entire