Unraveling the Mystery Behind BALD Meme Coin Rug Pull

Suspicion Surrounding BALD Meme Coin

The crypto community is abuzz with speculation following a suspected rug pull involving the BALD meme coin. The meme coin, which experienced an astronomical surge of 40,000% in value, saw its liquidity pulled, with 1,034 Ethereum (ETH) mysteriously withdrawn. A Twitter user, Mike McDonald, recently shared suspicions that a past associate might be connected to this incident.

The Connection to a $50,000 Bet

Mike McDonald recounted winning a $50,000 bet during the 2021 chess world championship, settled by a Twitter account named Milkyway. The address used for this transaction has been linked by crypto analyst ZachXBT to the BALD rug pull. McDonald believes that the funds used by Milkyway might have been stolen, prompting him to assist in the ongoing investigations.

Speculations and Theories

The identity of the person behind the @milkyway16eth account remains unknown, as the account has now gone private. The crypto community has been rife with theories, with some suggesting that the former FTX CEO, Sam Bankman-Fried, could be involved. However, this theory faces skepticism, particularly due to Bankman-Fried's restricted access to digital communication as part of his bail conditions.

The Role of Crypto Sleuths

ZachXBT and other crypto sleuths have been integral in piecing together the connections within this complex web. Screenshots shared by ZachXBT reveal that Milkyway had even conducted a poll on whether Coinbase should list BALD, adding another layer of intrigue to the situation. Additionally, links between BALD's smart contract address and Alameda Research, a company once associated with Bankman-Fried, have been noted.

Ongoing Investigation

The true identity behind the BALD meme coin and the motivations for the rug pull remain shrouded in mystery. The crypto community continues to watch closely as new information surfaces, eager to unravel the truth behind this puzzling event.