Bubblemaps Rejects Claims Linking Polymarket Trader to WLFI Co-Founder, Sparking Debate
Blockchain analytics platform Bubblemaps has rejected rising hypothesis tying a Polymarket account concerned within the Nicolás Maduro market to a World Liberty Financial (WLFI) co-founder.
The debate intensified after on-chain analyst Andrew 10 GWEI pushed again in opposition to Bubblemaps’ evaluation, stressing that his feedback had been meant to be cautious and analytical moderately than accusatory.
Polymarket’s Profitable Bets Raise Insider Trading Questions
The state of affairs originates from occasions that unfolded over the previous weekend. On January 3, US President Donald Trump introduced the seize of the Venezuelan President.
Notably, blockchain analytics agency Lookonchain identified activity on Polymarket involving three wallets that placed bets on Maduro leaving workplace earlier than the arrest. The wallets had been created and funded a number of days earlier, and executed the bets hours forward of the announcement.
“Notably, all three wallets solely wager on occasions associated to Venezuela and Maduro, with no historical past of different bets — a transparent case of insider buying and selling,” Lookonchain reported.
One pockets, recognized as 0x31a5, recorded a significant return, changing an preliminary place of approximately $32,000 into $400,000. Researcher Andrew 10 GWEI pointed to uncommon funding patterns on this account.
Both wallets that funded the Polymarket account obtained deposits from Coinbase and transferred funds directly to the platform, with no different exercise.
“I seen that the second pockets (2i7HJJ) was funded from Coinbase with 252.39 SOL on January 1st at 11:53 PM UTC. I made a decision to verify all deposits to Coinbase inside a day earlier than the insider’s pockets withdrawal and located one match with 99% accuracy. BCcTrxcowNeUqhr4yPtAMy5PhhQ5eD8hsjHYmMS8FaV8 (STVLU.SOL) – from this pockets there was a deposit to Coinbase by means of a deposit handle of 252.91 SOL on January 1st at 00:48 AM UTC, which means roughly 23 hours earlier than the withdrawal to the insider’s pockets,” Andrew explained.
The analyst additional identified that one pockets held domains resembling “Steven Charles.” This sparked comparisons to Steven Witkoff, the co-founder of World Liberty Financial.
“I seen that this pockets had a number of registered ENS domains: STVLU.SOL and StCharles.SOL. And the primary funder – ES6SiK66UZcsPevTgfVtKtay4o1vWUepeVvb5kfWnJXF with ENS Solhundred.sol. Moving to the latter, we see transactions of $11 million with somebody with ENS Stevencharles.sol (22Tqm7fBbrGb5XmT9UkcZhSPjT1Q1DMBatacpmsJGkUz) Steven Charles – or Steven Charles Witkoff(?), one of many co–founders of World Liberty Finance (WLFI), which means an individual who doubtlessly had entry to insider data,” the publish added.
Finally, Andrew highlighted what occurred after the Polymarket wager settled. The winnings had been withdrawn to Coinbase. A number of hours later, about $170,000 price of Fartcoin was withdrawn from Coinbase to “STVLU.sol (stcharles.sol) pockets.”
Bubblemaps Disputes Connection Logic
Blockchain analytics platform Bubblemaps challenged the analysis, stating that the logic doesn’t maintain up.
“This wants to cease. Polymarket insider evaluation is out of hand. Some posts are linking the Maduro’s Polymarket insider to a WLFI cofounder. It sounds explosive, however the logic is weak,” the platform said.
Bubblemaps asserted that the one-day time hole between transfers is insignificant. Furthermore, it contended that focusing solely on SOL inflows ignores potential deposits in different property, reminiscent of USDC or ETH.
They additional famous that funds would possibly originate from financial institution transfers or a number of smaller deposits, rendering the linkage speculative. According to the publish,
“Claiming “one handle match with 99% accuracy” is pure clickbait. In actuality, hundreds of wallets may match this sample.”
Andrew 10 GWEI responded in an in depth publish. The analyst clarified that his evaluation provided a cautious speculation moderately than a direct accusation.
“I particularly used the phrasing ‘Could end up to be somebody linked to Steven Charles Witkoff’- which makes it clear that is nearer to hypothesis and conjecture than a direct accusation. It’s a sufficiently cautious formulation that leaves room for doubt and emphasizes the hypothetical nature of the assertion. Yet you disregarded that,” the analyst commented.
According to Andrew, the “99% match” referenced in his publish utilized strictly to the similarity in transaction quantities. He additionally defended specializing in SOL versus stablecoins. The analyst defined that shifting by means of USDC, SOL, and again to USDC on Polymarket would have been inefficient.
While acknowledging that the 23-hour hole between deposit and withdrawal might be coincidental, he pointed to further components, together with SNS names resembling “Steven Charles” and subsequent transfers of Polymarket winnings, as compounding coincidences.
Andrew careworn that his observations don’t represent proof and that solely Coinbase may affirm or deny any connection by means of KYC information.
The publish Bubblemaps Rejects Claims Linking Polymarket Trader to WLFI Co-Founder, Sparking Debate appeared first on BeInCrypto.