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- FatManTerra has unveiled a series of Terra and Ethereum, allegedly linking Do Kwon to a fraud to sell MIR Tokens secretly.
- The questioned wallet is among the top 20 MIR wallets, as per CoinMarketCap, a data aggregator.
- As per FatManTerra, a wallet he was tracing sent tokens to a DAO address associated with Do Kwon.
Mirror Protocol Or Mirror Dimensions?
FatManTerra, a source of numerous whistleblower leaks and a Terra analyst, has made allegations that Mirror Protocol is a farce model to make venture capitalists and Do Kwon more affluent while manipulating governance and to con retail.
FatManTerra recognized a wallet via Etherscan, which deployed the Mirror Protocol to yield smart farming contracts. The wallet generated a smart contract 0xDB278fb5f7d4A7C3b83F80D18198d872Bbf7b923, which FatManTerra thinks is somehow linked to the Terra wormhole framework and LP for Mirror Protocol.
The contract certainly appears to be active as an LP pool for some protocols, but as of now, it is not confirmed that it links to Mirror Protocol.
As per FatManTerra, that wallet owned the majority of Mirror LPs on Ethereum. They farmed the majority of MIR rewards, which would enable them to have a disproportionate say in governance decisions.
The suspicious wallet is listed among the top 20 MIR wallets, as per CoinMarketCap.
Wallet Granting Excessive Governing Power
The MIR-held wallet identified in a Twitter thread posted by FatManTerra is apparently all staked, offering them extensive voting power in MIR governance when integrated.
He then recognized many wallets that interacted by bridging tokens across wormholes, delivering assets from Ethereum to Terra, acquiring $750 Million tranches of UST, and dispersing MIR across multiple wallets similar to former wallets.
As FatManTerra, among the wallets, he was keeping an eye on, sent tokens to a DAO address where Do Kwon is a counselor. He also explained how MIR funds incorporated in this wallet trap had been mobilized to KuCoin and Binance, to be sold in the secondary market.
FatManTerra concluded his Twitter thread by suggesting that folks take a closer look at the data and create their own conclusions.
Whether these wallets can officially be linked to Jump Capital and Do Kwon, as FatManTerra suggests, and whether the inside sources he recruited will come into the light or remain in the shadows.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
