Bloomberg Law
Jan. 27, 2022, 10:59 PM

Crypto Secrecy Makes DeFi a Financial Felon’s Wonderland (1)

Emily Nicolle
Emily Nicolle
Bloomberg News

A decentralized-finance project called Wonderland is being rocked by controversy following the disclosure that it was being run in part by a felon with ties to one of the biggest cryptocurrency scandals.

Tokens related to the protocol that runs on several blockchains including Avalanche, one of the larger community-governed DeFi applications since its launch in September, have tumbled in value in the last 24 hours. Co-founder Daniele Sestagalli said Thursday that he asked Wonderland’s treasury head, who goes by the pseudonym Sifu or 0xSifu, to step down. The statement came after an anonymous Twitter user unmasked Sifu as Michael Patryn ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.