The Bald Memecoin Controversy: Who’s Behind the Rug Pull?
The newly launched Bald memecoin’s market value plummeted due to a suspected “rug pull,” leading to theories that Sam Bankman-Fried or someone from Alameda Research may be involved.
- BALD experienced a rapid rally followed by a sharp crash after the removal of thousands of ETH in liquidity.
- An anonymous developer withdrew a significant amount of ETH from the liquidity pool, leading to accusations of a rug pull.
- Some well-known figures in the crypto industry, including Wintermute’s Igor Igamberdiev, have linked the developer to Alameda Research.
- Igamberdiev discovered a connection between the Bald deployer address and an older wallet associated with Alameda Research.
- Another theory suggests that the former Alameda CEO, Sam Trabucco, may be responsible for the rug pull.
While it remains unclear who is truly behind the controversy, evidence points towards Trabucco due to correlations between wallet activity and his tweets. Bankman-Fried is unlikely to be involved since he has had limited access to technology since April 2023. As scrutiny from the SEC intensifies, the focus is currently on Trabucco as the potential culprit.
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