6 Wealthiest Ethereum Wallets May Have Faked Decentralization – Bitcoinist.com

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6 Wealthiest Ethereum Wallets May Have Faked Decentralization - Bitcoinist.com

Something fishy came about on this planet of Ethereum on Dec 1, 2018.


New evaluation from AI-powered blockchain investigator ORS CryptoHound has uncovered uncommon exercise on the Ethereum blockchain, which came about final month.

ORS CryptoHound took a take a look at the 100 largest Ethereum transactions for the final quarter of final 12 months and, in doing so, discovered a wierd sample within the blockchain’s rich elite:

  • The six wealthiest wallets all transferred a sizeable sum of ether cash on the date in query — totaling virtually $500 million on the time of the transactions.
  • Each of the wallets in query contained a 92-98 % share of OmiseGo tokens (OMG).
  • The wallets had been all seemingly created on the identical day.
  • The wallets all cycled their holdings by way of a number of transactions in a notably comparable method till the entire preliminary tokens being tracked had been divided equally amongst 39 new wallets containing precisely 150,000 ETH.

ethereum eth

Clearly, the transactions from the six wealthiest wallets in query had been all coordinated — however why?

Though the workforce behind the investigation didn’t straight level fingers, it did recommend that a number of Ethereum whales — or outstanding stakeholders — tried to make the venture seem extra decentralized than it truly is by separating the aforementioned ether cash and OMG tokens. This could be accomplished to make Ethereum seem to have extra integrity.

Fabrizio Fontana, a Chief Analyst of the ORS CryptoHound analysis workforce, hopes that the AI-pushed investigative software could also be used to focus on comparable oddities sooner or later — stating, by means of a press launch:

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