This Wednesday, DeFi or Decentralized Finance Detective, Zachxbt made a pretty public tweet thread on Twitter regarding the front-end engineer of TreasureDAO.
There has been an ongoing investigation going on by Twitter sleuth, Zachxbt, and this investigation is raising more and more questions in the community of blockchain regarding the past histories of the developers as well as the current roles they.
The engineer, Just Cheese or commonly known as JC is a pretty popular figure and his involvement in different suspicious NFT projects in the past is definitely raising some questions for sure. According to current crypto market news, the engineer had been steadily involved in different projects related to nonfungible tokens or NFTs.
This would have been a pretty normal thing except for the fact that these NFT projects were actually of a very questionable system.
According to the white paper that talks about TreasureDAO, it is properly described as a decentralized ecosystem for NFT that runs on Arbitrum and is built in the most specific manner for different projects that are related to the Metaverse.
Some of the projects that are listed on TreasureDAO actually make use of the native token that is used in the system known as MAGIC in order to make the transactions in the best way without any particular hindrance. Also, TreasureDAO is responsible for the entire governing process of the emission of this particular token that is called MAGIC by the community.
As it has been mentioned by Zachxbt, the formation of the story took place when a wallet address was shared by JC in the discord for TreasureDAO during the month of November and that too last year. ‘
The detective of Decentralized Finance then actually made the claim to have properly backtracked the entire inflows key series and found a total of 134.66 ETH or Ethereum in the wallet of JC related to the NFT projects or Token Projects.
These included Mutant Cats, Yuta/YYYY, and ZombieToadz as well. However, the only problem here was that these projects actually went pretty quiet after they were launched.
An official announcement was released by the project team of TreasureDAO on the discord and in the announcement, the team supposedly provided an explanation for the suspicious wallet entries.
They said, “From what we understand, Cheese did some UI/FE work for a few projects created by these bad actors on a contract basis while breaking into web3, but they abandoned the projects long after he’d already delivered and had been paid for his work. The DAO cannot comment on the details of the work as it was outside of Treasure.”
The project team of TreasureDAO further provided some more information in their explanation, saying: “We can comment on his [JC’s] efforts while at Treasure, which has been amazing, contributing to all the UI/FE for TreasureDAO sites and products to date.”
Zachxbt is known in the blockchain community for his forensic methods in investigating the past conduct of blockchain developers. Last month, the DeFi detective alleged that Michael Patryn, co-founder of defunct Canadian crypto exchange QuadrigaCX, was running DeFi project Wonderland’s treasury as its anonymous chief financial officer. Users’ opinions on the matter remain divided on social media, with Cryptopantone, TreasureDAO’s “evangelist” and moderator, tweeting:
Meanwhile, Josh11#3105, a member of TreasureDAO’s official Discord, attempted to highlight the importance of accountability for the project, writing:
“Seriously, but can we use DAO funds to pay Zach [Zachxbt] to do an internal background check on all team members’ wallets so we can deal with everything in-house and get all the bullshit done and dusted at once so we can move forward?”