On Friday, Daniele Sestagalli, co-founder of decentralized finance protocol, or DeFi, Wonderland, and stablecoin protocol Abracadabra, issued a statement on the way forward following the doxing of his colleague, Michael Patryn:
“Are we leaving or are we still fighting over the aspect of a DAO [organización autónoma descentralizada] investment be a revolutionary new organization? Because of the option I am for, which is to fight and bring in someone new and experienced to manage the treasury.”
The day before, an investor discovered that the identity of Wonderland’s CFO was Patryn, a former co-founder of defunct Canadian cryptocurrency exchange QuadrigaCX. More than $145 million in QuadrigaCX client funds remain missing following the mysterious death of its co-founder in late 2018. Additionally, Patryn was convicted of operating a credit card fraud scheme under a different name in 2002.
Although there have been no accusations of suspicious conduct during Patryn’s tenure at Wonderland, the idea of appointing an individual with past criminal financial mishaps to manage the protocol’s treasury raised alarm bells among many Wonderland users. In a forum proposal cited by Sestagalli, its author, co-founder of Bastion trading known as “TheSkyHopper”, calls for the immediate removal of 0xSifu (Michael Patryn) from treasury management and proposes that members of his company be brought in as replacements. One user, El_jefe_NYC, commented:
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