A TreasureDAO Engineer Found With Dubious NFT projects
We know that blockchains are safe and secure, but what about the people who build them? An interesting piece of news has just arrived covering this.
People trust blockchains because of their security and integrity but what about the people involved with them? An interesting story about this just came up as an engineer working for TreasureDAO was found involved in working on questionable projects.
According to reports, a TreasureDAO engineer was once involved in dubious NFT endeavors
Following an investigation by Twitter sleuth Zachxbt, the blockchain community has become more skeptical about the significance of previous work experience for developers currently in their present role.
Decentralized finance (DeFi) detective Zachxbt published an extensive Twitter thread on Wednesday about TreasureDAO’s front-end engineer Just Cheese, known as JC. Zachxbt exposed JC’s probable involvement in several NFT initiatives in his thread. A “decentralized NFT ecosystem on Arbitrum that has been specifically intended for metaverse efforts,” according to the TreasureDAO white paper.
It is based on the Ethereum distributed ledger. The ecosystem’s native token, MAGIC, is used for all transactions involving the projects listed above. MAGIC token issuance is governed by TreasureDAO.
According to Zachxbt, the whole situation began when JC revealed the contents of his wallet on the TreasureDAO Discord channel in November of last year.
The DeFi detective claimed to have tracked a significant series of inflows into the JC’s wallet, totaling 134.66 Ether (ETH), back to several NFT/token projects, including but not limited to Mutant Cats, ZombieToadz, and Yuta/YYYY, all of which Zachxbt claims went silent after their initial public offering (ICO).
In an official announcement posted to the TreasureDAO Discord server, the project’s staff provided the following explanation:
Many of these rogue actors’ ventures were abandoned long after Cheese had produced and received payment for his work. Because the work was done outside of Treasure, the DAO is unable to comment on the specifics.
Zackxbt is well-known in the blockchain community for using forensic techniques to probe the recent activities of other developers. One of QuadrigaCX’s founders, Michael Patryn, was identified as Wonderland’s chief financial officer, according to DeFi’s probe into the cryptocurrency exchange.
It appears as though JC worked as a developer for various projects before joining Treasure and helped establish one of the most exciting initiatives in the space, according to Cryptopantone, TreasureDAO’s “evangelist” and moderator, who tweeted earlier this week: “people’s perspectives on this topic continue to be divided on social media.”
He urged everyone to get on with their lives and thanked them for their assistance. A graphic representation of all Treasure-related tasks may be possible.
There are several reasons why it’s important to hold people accountable for the project. Josh11#3105, a Discord member, wrote the following:
“As a matter of fact, can we hire Zach [Zachxbt] to run an internal background check on all team members’ wallets, so that we can deal with everything in-house and finish up the nonsense so that we can go forward?”
The concept of blockchains is amazing with its tamper-proof design but are the people involved with them tamper-proof as well. This question was answered in today’s article featuring an interesting case with Zackxbt’s investigation.
* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.