Wonderland invested $25 million in a new Sifu Vision project after a vote on the platform but it seems that the entire thing was fraudulent so let’s have a closer look in today’s altcoin news.
The fraudster swayed the vote and enriched himself in the process as it seems that Wonderland invested $25 million into Sifu’s vision. The project was started by a Wonderland community member and fraudster Michael Patryn. It seems that he had sufficient TIME Tokens to swing the vote in his favor and earn up to $23 million profit from the handover. Wonderland voted to invest $25 million into the new Sifu project but Sifu himself had enough tokens to swing the vote and profit by at least $23 million.
After a week of discussion, the Wonderland community voted today to purcahse $25 million worth of SIFU tokens and the purchase was justified by the proposal as an opportunity for the community to use the smaller portion of the treasury and keep receiving the benefits of the Sifu management and other skills. The proposal to invest in Sifu was submitted by 0xSifu himself and was passed with 321,000 TIME tokens and 39,000 TIME tokens. However, a closer look at the votes shows that 0xSifu was the second-biggest voter as he contributed 51,000 TIME tokens to the vote via his official account which could be enough to ensure the passing of the proposal.
The TIME token was trading in a range from $33 to $25 and it only cost SIFU $1683 to secure the $25 million. Wonderland on the other hand is an OlympusDAO fork created on the Avalanche blockchain and it is led by Daniele Sestagalli who suffered a huge downturn after the revelation that 0xSifu as the community member in charge of the treasury, was the convicted fraudster Michael Patryn.
Patryn is the co-founder of QuadrigaCX which shut down after his former partner Gerald Cotten disappeared with over $169 million in investor funds. Patryn kept on participating in the Wonderland community even after his identity was revealed. The Sifu Vision is his latest crypto venture and the token’s only utility is to make money. Law enforcement was stepping up the efforts to prevent money laundering and fraud in the crypto space as the FBI already added the notorious scammer Ruja Ignatova to its Ten Most Wanted List.
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