Has Uniswap Labs defrauded 4.9M $PNG from initial investors by controlling their distribution addresses? đ§
A deep dive into the initial $UNI distribution, the Pangolin airdrop, and the involvement of key players.
In the last few weeks, Iâve been researching Uniswap Labs and its initial distribution. I came across evidence suggesting they leveraged distribution addresses to exploit the Pangolin airdrop, pocketing a total of 4.9M $PNG unethically.
One name kept appearing when tracing these transactions: Max Blaushild â a former Coinbase engineer.
His linked address interacted with multiple initial distribution addresses during the Pangolin airdrop.
The address that was used and funded by maxblaushild.eth: 0x3F44a6437CaEFCF729b556ad938834De681166aB
Hereâs what happened:
- Blaushildâs address sent AVAX to initial distribution addresses
- Claimed the Pangolin airdrop
- Transferred funds to 0x8FC32D5d23f8306781076075A5350D4a9996B09C on Avalanche
- Moved them to Ethereum
- Final stop? A Safe at 0x2EC96c9Af82ddD650C0776cb0Da93BEAA7ce2A10
At first, I thought this was just an individual leveraging insider knowledge to profit himself. But then I dug deeper...
Key connections emerged:
- 0x811B funded Blaushildâs AVAX balances:
- 0x811B's AVAX balance was originally funded by Haydenâs personal wallet (goudacheese.eth):
The Pangolin $PNG distribution was designed to be fair. But if Uniswap Labs controlled these wallets, they exploited a system meant for genuine tokenholders.
Was Coinbase merely an intermediary for Uniswap Labs and its investors? Or was this a deliberate misappropriation of assets that should have belonged to initial investors?
If true, this suggests Uniswap Labs manipulated the system to unjustly enrich themselves at the expense of their initial investors.
- Uniswap Labs / Hayden address?:
- Uniswap Labs / Hayden safe? (holds over 3.25M $UNI):
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