{"id":28197,"date":"2023-08-14T21:53:26","date_gmt":"2023-08-15T01:53:26","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=28197"},"modified":"2023-08-14T21:53:26","modified_gmt":"2023-08-15T01:53:26","slug":"bald-deployer-moves-proceeds-of-the-rug-from-base-to-ethereum","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/14\/bald-deployer-moves-proceeds-of-the-rug-from-base-to-ethereum\/","title":{"rendered":"BALD Deployer Moves Proceeds Of The Rug From Base To Ethereum"},"content":{"rendered":"

In a shocking turn of events, the developer behind the controversial meme coin BALD initiated<\/a> a series of significant transactions, raising eyebrows within the cryptocurrency community. The events surrounding the deployer\u2019s recent actions have left both the coin\u2019s value and its reputation teetering on the edge.<\/p>\n

BALD Deployers Send Funds To Kraken Exchange<\/h2>\n

Blockchain analysis platform Lookonchain has revealed<\/a> that the deployer of the BALD token has executed audacious moves, bridging a staggering 7,000 ETH ($12.9 million) out of the Coinbase Layer 2 network, Base.<\/p>\n

Of the 7,000 ETH that has been sent to the Ethereum network, the deployer sent 2,100 ETH ($3.87 million) in two different transactions to the Kraken crypto exchange, for purposes that can only be for selling.<\/p>\n

Following this, the BALD deployer currently holds 4,902 ETH in their balance on the Ethereum blockchain, worth over $9 million at current prices. The wallet\u2019s tokens holdings also remain significant, sitting at $1.115 million at the time of this writing.<\/p>\n

The recent transactions have now dredged up speculations about who the BALD deployer might be. On-chain investigator ZachXBT previously lent his expertise to the investigations, with findings pointing toward an X (formerly Twitter) user who goes by the username @milkyway16eth due to a previous transaction between the deployer wallet and Milkyway\u2019s wallet. However, there is yet to be any concrete proof if Milkyway is actually the brains behind the rug.<\/p>\n

A Rollercoaster For Investors<\/h2>\n

The BALD meme coin started making the rounds on X (formerly Twitter) shortly after being launched on Base<\/a>. The coin which was named after Coinbase\u2019s CEO Brian Armstrong\u2019s bald head rose rapidly, climbing more than 289,000% in less than two days.<\/p>\n

This growth rate served as an attraction for investors, who bridged quickly to the ETH blockchain to invest in the token. It continued to rise, crossing a $70 million market amid the euphoria. However, this would end up being short-lived.<\/p>\n

On August 1, the BALD deployer pulled liquidity from the token<\/a>, making off with 10,705 ETH ($20 million at the time). The coin\u2019s price declined rapidly after this, although the official X account for BALD continued to deny that it was a rug pull.<\/p>\n

Although BALD continues to trade on the Base network, it has been unable to reclaim its past glory. Its price is down over 90% from its all-time high and recorded 18% losses in the last 24 hours alone, according to data from Coinmarketcap. Its daily trading volume is sitting at $503,000 and its market cap is $9.03 million.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In a shocking turn of events, the developer behind the controversial meme coin BALD initiated<\/a> a series of significant transactions, raising eyebrows within the cryptocurrency community. The events surrounding the deployer\u2019s recent actions have left both the coin\u2019s value and its reputation teetering on the edge.<\/p>\n

BALD Deployers Send Funds To Kraken Exchange<\/h2>\n

Blockchain analysis platform Lookonchain has revealed<\/a> that the deployer of the BALD token has executed audacious moves, bridging a staggering 7,000 ETH ($12.9 million) out of the Coinbase Layer 2 network, Base.<\/p>\n

Of the 7,000 ETH that has been sent to the Ethereum network, the deployer sent 2,100 ETH ($3.87 million) in two different transactions to the Kraken crypto exchange, for purposes that can only be for selling.<\/p>\n

Following this, the BALD deployer currently holds 4,902 ETH in their balance on the Ethereum blockchain, worth over $9 million at current prices. The wallet\u2019s tokens holdings also remain significant, sitting at $1.115 million at the time of this writing.<\/p>\n

The recent transactions have now dredged up speculations about who the BALD deployer might be. On-chain investigator ZachXBT previously lent his expertise to the investigations, with findings pointing toward an X (formerly Twitter) user who goes by the username @milkyway16eth due to a previous transaction between the deployer wallet and Milkyway\u2019s wallet. However, there is yet to be any concrete proof if Milkyway is actually the brains behind the rug.<\/p>\n

A Rollercoaster For Investors<\/h2>\n

The BALD meme coin started making the rounds on X (formerly Twitter) shortly after being launched on Base<\/a>. The coin which was named after Coinbase\u2019s CEO Brian Armstrong\u2019s bald head rose rapidly, climbing more than 289,000% in less than two days.<\/p>\n

This growth rate served as an attraction for investors, who bridged quickly to the ETH blockchain to invest in the token. It continued to rise, crossing a $70 million market amid the euphoria. However, this would end up being short-lived.<\/p>\n

On August 1, the BALD deployer pulled liquidity from the token<\/a>, making off with 10,705 ETH ($20 million at the time). The coin\u2019s price declined rapidly after this, although the official X account for BALD continued to deny that it was a rug pull.<\/p>\n

Although BALD continues to trade on the Base network, it has been unable to reclaim its past glory. Its price is down over 90% from its all-time high and recorded 18% losses in the last 24 hours alone, according to data from Coinmarketcap. Its daily trading volume is sitting at $503,000 and its market cap is $9.03 million.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-28197","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=28197"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28197\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28197"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}