Insider trading, carpet painting, media misinformation are evil that always lurks in the crypto room. The article will highlight the villains who participated in the most high-profile events of the year.
Crypto Villains Scandal Best of 2021
Where there is money, there is greed and gloomy behavior. So far, it’s clear that the crypto space has had a successful year, with assets like Bitcoin, ETH, and SOL surging sharply and total market capitalization topping $ 3 trillion for the first time.
But while the market enriches countless investors and traders, many risk anything to maximize their profits. One of the surprises this year has been the inclusion of previously famous people on the roster who endorse the notion that money can really change everything.
Cryptocurrencies have always had sworn enemies, most notably the boomers in charge of overseeing financial regulation in the United States. Including, of course, not only the chairman of the US Securities and Exchange Commission Gary Gensler and his staff. This year is especially important for NFT, but it also brings with it the phenomenon of right-click keepers – angry keyboard heroes who follow political radicalism and unfounded hatred of new technology. It is impossible to list all the NFT skeptics who criticized this trend negatively this year, but otherwise, it is likely that they will change their minds when they find it more relevant over the years.
Instead, the article mentions some of the most hated characters in the crypto space this year, as well as the stars of some of the most shocking incidents since January. Here is a list of the 10 worst characters in the crypto space in 2021.
Su Joo is an influential figure in the field, and his performances on the Uncommon Core podcast are often referred to as “must-listens” on the Crypto Briefing Slack channel. Zhu is known for his Yoda-like intelligence, but it can be risky to follow him in any divination as he acts like a murderer. In May, he predicts ETH will hit $ 25,000 without banking after announcing that Three Arrows Capital, the hedge fund he manages with Kyle Davis, has enough assets to become one of the largest owners in the world.
But in late summer, Su Zhu and Davis announced a $ 230 million funding round for Avalanche. They focused on promoting their 400,000 Twitter followers for the AVAX Tier 1 coin. When AVAX peaked at $ 140 in late November, Zhu caused a stir by joining the Ethereum and Avalanche controversy with Synthetix’s Kane Warwick on Twitter before claiming that it was driven by Ethereum gas fees.
The reason Su Zhu was included on this list was because he was explain Ethereum’s “Ethereum abandonment” and Ethereum’s “User abandonment” immediately sparked extremely optimistic predictions for ETH from the AllCoreDevs project, the teams working on Layer 2 solutions and infrastructure, and community members who listened. However, while Zhu Ethereum has clearly turned its back on other centralized options, it appears to have changed its mind as Three Arrows Capital has bought over 100,000 ETH in the past few days. This shows that Zhu tends to rotate his inventory faster than Solana’s transaction processing speed. When Su Joo started spinning the coin on Twitter, he thought about confirming another project.
Dramatic stories always take place somewhere in the crypto space, but September week sparked an equally fascinating controversy. As reported by Bitcoin magazine, WalMart has announced a partnership with Litecoin, much to the surprise of most who are looking at the area. Reuters and CNBC also contributed to the news and the jump in LTC prices, before the press release the news was fake. After that, the LTC price collapsed as quickly as it rose, while the mainstream press felt embarrassed.
The next day, Solana did not work because bots spammed the network when Grape Protocol IDO launched on Raydium and prevented block processing. The founder of the high-speed network, Anatoly Yakovenko, denied the shutdown, arguing that the situation was comparable to Ethereum’s exorbitant gas fees that drove users out of the market and that the network remained closed 18 hours later.
However, the most shocking story this week happened with OpenSea Product Manager Nate Chastain. Well known in the NFT community, Chastain is well known on Crypto Twitter for his NFT CryptoPunk avatar and his ENS domain name. However, his online presence (coupled with a number of faulty decisions) ultimately contributed to his downfall. When he linked his Ethereum address to his name and online identity, a chain detective uncovered a series of transactions that revealed that he had bought NFTs from artists just minutes before they were advertised online.
As soon as these assets increase in value at the time of listing, Chastain sells them for a quick profit, and then sells the earned ETH back to the specified address. Everyone could see the public book, so his resignation the next day was inevitable. OpenSea is valued at $ 10 billion this year, so Chastain, one of the early members of the team, could easily have raised eight-figure capital. Instead, he received 19 ETH worth about $ 65,000 and disappeared from the NFT community without a trace.
When you receive news of a potential giveaway, you can gain a lot by interacting with the magazine from multiple addresses. It also means that there is always a risk that an insider will take coins from the airdrop and walk away with a decent amount, as Ribbon Finance and Divergence Ventures reported in October.
Shortly after the DeFi project circulated the tokens to early adopters, on-chain analyst gabagool.eth became suspicious when he spotted an address that received funds from multiple wallets that were sold to RBN for $ 2.5 million in ETH. Through ENS, he learned that the wallet was owned by Bridget Harris, an employee of Divergence Ventures, the venture capital firm that backed Ribbon with $ 25,000 in seed capital. Ribbon admitted that he warned the fund about the token distribution, but did not provide any criteria.
Further analysis reveals that the company has developed airdrops for every project it invests in and will likely use its internal position to obtain tokens that were to be distributed to other members of the community. Divergence founders Calvin Liu and George Lambeth have published a series of insincere apologies and excuses for their actions, stating that their goal is “to make money.” They are not the only team to have used this tactic before they made the RBN tokens returned. But that’s not all they lost, because their reputation also suffered from this incident.
Elon Musk will truly be a big hit in 2021. Musk initially praised the Dogecoin meme and inspired the dog coin wave, but was later replaced by Shiba Inu due to a lack of basic use cases. There have been false reports that Bitcoin and Ethereum cannot scale like Dogecoin. Worst of all, Tesla will stop accepting bitcoin payments due to perceived environmental issues just before the worst market crash since Black Thursday. However, Tesla kept BTC on its balance sheet after announcing a $ 1.5 billion investment in February.
Musk also told the world that Dogecoin was a “hype” on Saturday Night Live, causing its prices to drop. It was then that he realized that only his words could change the market. Since then, Musk has become less influential. But after this year, the crypto community realizes that just one tweet is enough to move the market 10% anyway – and there may be no reason to exceed a billion dollars.
Moon Guurl, a self-proclaimed crypto enthusiast named Ri, has made it clear that he wants to brand himself as a crypto influencer when he joins the industry in mid-2020, and makes boring, questionable posts about where the market might be. the head is next. Their followers quickly reached a large number, which could benefit crypto projects striving for more coverage.
She then received an offer from the Isla Inu Meme project in exchange for 1% of the proposed project token. How famous Twitter user zachxbt did it shownMondgwurl’s real face was revealed when she decided to tweet about the project without revealing how much she benefited, and then sold her holdings of tokens for 22.8 ETH, which was around $ 100,000 at the time.
The token was so illiquid that it almost dropped to zero, which meant Mondguurl killed everyone who bought the project after their tweet. She pretends to be innocent by stating that she does not understand the liquidity problem, which is quite plausible given the previous relative entry price. However, the moon gurl made matters worse by not expressing regret over the incident and stating that Crypto Twitter had mocked her and made her nervous. Of all the mistakes she has made, it’s hard to find the worst — secret sponsorship deals, carpet painting, or psychological ailments — to justify what she does. Anyway, Mondgwurl