Insiders: DWF Labs head suspected of being linked to the $4 billion cryptocurrency Ponzi scheme OneCoin

ChainCatcher news, Twitter user Nay tweeted that, after analyzing on-chain data, DWF Labs "almost always matches the amount of tokens entering and exiting with time and amount, which means these are not loans, so they are not standard market maker trades." Nay stated that the pattern of all DWF Labs transactions is either to purchase $50,000 to $100,000 worth of stablecoins about once a day, or to make large transactions of up to $5 million each, then deposit all (or almost all) of the funds on CEX.

At the same time, many of their public investment transactions cannot be matched with on-chain data, "with $65 million confirmed on-chain, reportedly over $150 million, and many more unreported," Nay said. "One explanation is that they sell tokens on behalf of project teams at no less than a certain price and remit in advance, thus earning a delta. Many transactions have a 10-20% discount, but some do not."

In addition, Nay stated that DWF Labs' official head Andrei Grachev is connected to the $4 billion cryptocurrency Ponzi scheme OneCoin, which was previously disclosed by Russian media in 2019. (source link)