- A top executive at DeFi platform Wonderland was revealed to be Michael Patryn, a cofounder of failed crypto exchange QuadrigaCX.
- Regulators concluded that QuadrigaCX was a Ponzi scheme after about $190 million of crypto went missing in 2018.
- Wonderland’s token, TIME, plummeted to an all-time low of $335 Thursday, down from its November peak of $10,000.
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Fans of the popular decentralized finance platform Wonderland are reeling after a Twitter user revealed the identity of a top executive, who previously was involved in one of the biggest cryptocurrency scandals in history.
Until recently, Michael Patryn was known anonymously as “Sifu” within the Wonderland community and was in charge of managing its treasury. But he gained notoriety previously as a cofounder of the failed Canadian crypto exchange QuadrigaCX. And before that, he was involved in money scams, fraud, and burglary.
Since his identity was outed, he has stepped back from his role at Wonderland, which describes itself as the “first decentralized cross-chain reserve currency protocol on the TIME token.”
Serviced on the Avalanche blockchain network, the DeFi platform offers yields of 83,000% for…
