Suspicions rose very high after the Dutch auction ICO sale. EOS recorded high prices and demands. Reports are saying that the owners created fake demands by recycling ETH.
A recent report reaching us is that there may have been some manipulations in the ICO last year. The sale of EOS during the 2017 & 2018 auction had more demands and price hike than everyone expected.
As a result, suspicion rose that the owners may have recycled ETH to boost it. Recently, new evidence is proving what everyone has been suspecting. We hear that Block.one is guilty of spending Ethereum to increase the demands. Whether it’s true or not, we are working with research results.
Alethio Data Science is showing that people’s speculations may not be wrong. A report which the startup presented seems to prove that there were modifications on EOS market prices during the sale. The accusation is that Block.one raised $4 billion but couldn’t provide any data showing how they spent the funds. Alethio Data has spent time to track blockchain activities, and this is their discovery.
To enumerate what the report says, it seems that the company transferred funds from the sale wallet. This was even before the close of the sale. Five days through the EOS sale, the company withdrew the first funds from the wallet and kept doing so.
EOS records funds inflow from Ethereum. Its price in the market is almost the same as the auction price daily. After the completion of the sale, the market price for EOS continued to be stable. What surprised everybody was that the bear market didn’t even affect it. The price remained between $4 & $6 for many months.
Another cause for surprise was that the company withdrew a lot of funds while the sale was ongoing.
The report from Alethio Data mentioned that the total number of withdrawals which EOS made was 99 times. The withdrawal which took place while the sale was going was 93 out of the 99. The total of these transactions was 7.75 million ETH. This figure represents 90.8% of all the funds which the company raised during the auction sale. Judging by this window, the company withdrew every 3.8 days.
We believe that this movement of funds which Alethio observed caused them to be suspicious of manipulations. According to their conclusion, it seemed that the ICO kept recycling ETH to stimulate people’s interest. No one can say otherwise yet because the constant flow of funds in & out of the wallet looks suspicious.
Also, Alethio Data discovered that funds flowed between the Bitfinex_4ETH wallet & the ICO’s Ethereum address for EOS. The research also believes that the manipulators carried out the act by injecting ETH. The reason being that there was no lock on the EOS tokens. So, the owners could move it or sell during the auction. Moreover, ETH funds were also flowing freely.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||86.8%||12||$27 059.30||-0.24%||0.92%||$524 708 563 048|
|2||ETH||Ethereum predictions||90.8%||5||$1 889.14||0.54%||3.28%||$227 155 817 130|
|3||USDT||Tether predictions||94.4%||1||$1.000210||0.08%||-0.01%||$83 267 213 407|
|4||BNB||Binance Coin predictions||90.4%||3||$306.59||0.14%||-0.15%||$47 783 784 553|
|5||USDC||USD Coin predictions||93.2%||1||$0.999910||0.04%||-0.01%||$28 938 047 584|
|6||XRP||XRP predictions||76.4%||40||$0.518210||2.34%||11.76%||$26 938 323 151|
|7||ADA||Cardano predictions||90.8%||7||$0.375427||2.52%||4.29%||$13 097 419 830|
|8||STETH||Lido stETH predictions||94%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|9||DOGE||Dogecoin predictions||85.6%||14||$0.072129||0.37%||1.78%||$10 069 367 781|
|10||SOL||Solana predictions||83.2%||27||$21.10||1.50%||8.52%||$8 365 347 570|
|11||MATIC||Polygon predictions||79.6%||31||$0.900533||0.44%||-0.92%||$8 356 468 238|
|12||WTRX||Wrapped TRON predictions||80.4%||36||$0.076172||1.42%||-0.10%||$7 744 821 085|
|13||TRX||TRON predictions||80.4%||35||$0.076432||1.62%||0.13%||$6 894 553 498|
|14||LTC||Litecoin predictions||79.2%||38||$94.25||-1.22%||7.53%||$6 885 437 083|
|15||DOT||Polkadot predictions||88.4%||8||$5.23||-0.30%||-0.31%||$6 229 138 974|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2023 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.