Written by: Deep Chao TechFlow Cleaner

"It's all bubbles, just a moment of fireworks"

The "local dog" BALD on Layer2 BASE developed by Coinbase may be the best portrayal of this lyric.

On July 31, the BALD project used 1,160 ETH (about 2.17 million U.S. dollars) to repurchase 29.78 million BALD. The BALD price rose from 0.055 to a maximum of 0.09 U.S. dollars. When everyone was immersed in the joy of pulling the market, which was justice, the project Fang gave everyone a surprise - he withdrew 10,704 ETH (approximately US$20 million) and 224 million BALD liquidity from the capital pool, and the price of BALD fell directly from US$0.09 to below US$0.02.

Amidst the collapse, some people discovered through clues that the "mastermind" behind BALD was most likely SBF, the founder of FTX.

A series of evidence is as follows:

1. On-chain address

First, lock the project wallet address: 0xccFa0530B9d52f970d1A2dAEa670ce58E4176389

It was discovered that the initial funds of this address came from FTX.

In addition, the associated wallet A (0x000f7f22bfC28D940d4B68e13213aB17cf107790) that directly interacts with the project's Binance recharge address also has interactive transfers with Alameda's wallet.

While SBF was imprisoned in the Bahamas, there was no activity at the address until SBF was partially free in the United States, when the wallet began to become active again.

In addition, the associated wallet A was unusually active during the UST depegging period, appearing to be arbitrage and accelerating the depegging of UST.

The associated address A has also voted for SushiSwap governance, and SBF is the "core big player" of Sushiswap.

2. The official BALD account has the same language habits as SBF

SBF's language style has strong personal characteristics, which is reflected in the choice of words and sentences of some common expressions. By comparing SBF's past tweets, we can find a strong SBF style in the posts of BALD's official Twitter.

Use "correct" as a response:

Use "Nor" a lot:

Use “quite well”:

3. Others

The original official Twitter account of Serum, the DEX on Solana created by FTX, has been renamed @0xLukaeth, which previously promoted $BALD.

As the incident unfolds, more and more people are looking for new evidence to prove the connection, but it is still impossible to completely confirm that SBF is the mastermind behind BALD.

KOL Tiffany Fong, who interviewed SBF, said in a private message to the founder of Bankless that it couldn’t be Sam because he can only use a flip phone at the moment.

Some practitioners also believe that the actual controller of BALD may be a former Alameda employee, but further evidence is still needed.

Whether it is SBF or the people from Alameda, if it is really proved that they are related, then some investors will probably be very sad: after being rugged by FTX once and then rugged by BALD, SBF is simply his lifelong enemy.