Connect with us

Crypto World

Whoever’s running SBF’s X account keeps following memecoin shills

Published

on

Whoever's running SBF’s X account keeps following memecoin shills

Sam Bankman-Fried’s X account, which claims to relay the convicted fraudster’s words “through a proxy,” is now apparently spending much of its time following promoters of insider enrichment schemes.

Among those followed by the account, according to tracker service Web3 Alerts, are a robot memecoin promoter, a “chaos trader on Solana shitters,” and another memecoin trader.

Another follow claims to be “manifesting 1000x” but most probably hasn’t.

The tracker first flagged the pattern on February 26 when @SBF_FTX followed someone who claims to be a “copy trade messiah.”

Advertisement

Its owner openly promotes a token that’s lost one-quarter of its value in the past three months and is down 90% from its December 24 high.

The token’s description has all the hallmarks of AI slop, including run-on sentences, universality, superficiality, and a word salad of futuristic buzzwords. It reads: 

“An end-to-end solution enabling agents across domains, frameworks, and specialties to work together seamlessly in a unified environment—combining custom cognitive frameworks, collaborative architectures, and intelligent integrations to enable novel ways of executing work. From business automation to creative production, users will have access to agentic-driven workflows that adapt to their needs, enabling them to streamline processes and tackle ambitious projects with more autonomy than ever before. The entire agent-powered teams can be configured, deployed, and tailored without necessitating any technical expertise. We are defining a new era in personal autonomy.”

Whoever controls Bankman-Fried’s X account also followed someone on March 5 whose bio advertises a “Trojan referal bot” (that probably follows all terms of service and spells correctly when it actually conducts those referrals).

Advertisement

That account promotes a Marco Rubio memecoin, “the most memeable guy right now” besides thousands of more famous people.

There are, of course, dozens of Marco Rubio memecoins with track records of near-total collapse, and a limitless supply of new, interchangeable celebrity memecoins.

Whoever is relaying Bankman-Fried’s messages from prison wants to know about them.

A proxy for prison communications

The @SBF_FTX account uses Bureau of Prisons-approved phone calls and emails to relay the prisoner’s words via tweets. Its bio reads: “SBF’s words. Posted through a proxy” and notes that follows don’t indicate endorsements.

Advertisement

That disclaimer does a lot of heavy lifting. In recent weeks, SBF has been re-litigating his criminal conviction in the court of public opinion. He’s serving a 25-year sentence for fraud and conspiracy after stealing roughly $8 billion from FTX customers. 

Read more: SBF wants Trump to know he was working with Republicans all along

Federal inmates may not access social media directly. “A friend” manages it on Bankman-Fried’s behalf.

The follow spree from SBF’s account

All of this isn’t just disturbing, it has profound financial ramifications. Unfortunately, the @SBF_FTX account still moves markets.

Advertisement

For example, when it posted “gm” in September 2025, the former FTX token FTT surged 60% within minutes. Follows or mentions from the account can push real traffic toward obscure tokens, disclaimer or not.

The follow spree raises obvious, indeterminate questions. Has the convicted architect of one of crypto’s largest frauds directed his “friend” to follow memecoin promoters from a federal prison? Why is this person following a “chaos trader on Solana shitters”? Why is SBF’s account lending a million followers’ worth of credibility to coin peddlers in the first place?

Bankman-Fried took billions of dollars from FTX customers, without their consent, to trade at his offshore hedge fund, Alameda Research.

Now someone speaking for him is following the next generation of coin promoters.

Advertisement

Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

Source link

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto World

Vitalik Buterin Backs Minimmit Over Casper FFG for Ethereum’s Consensus Layer

Published

on

Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

  • Minimmit achieves finality in one signing round, replacing Casper FFG’s two-round justification and finalization process. (truncate to fit — 105 chars)
  • The new gadget lowers fault tolerance from 33% to 17%, but raises the unilateral censorship threshold from 67% to 83%.
  • Buterin argues censorship poses a greater threat than finality reversion, as it lacks immediate, verifiable on-chain evidence.
  • Minimmit requires 83% of clients to share a bug before incorrect finalization occurs, giving developers a wider safety margin.

Minimmit has been put forward as a direct replacement for Casper FFG within Ethereum’s consensus layer. Ethereum co-founder Vitalik Buterin recently shared a detailed technical post comparing both finality gadgets.

Casper FFG has long served as a two-round finality mechanism on the network. The proposed system, by contrast, achieves finality in a single round of validator signatures.

The proposal is drawing attention as the Ethereum community continues to evaluate changes to its consensus architecture.

Why the New System Operates in a Single Round

Casper FFG asks each attester to sign a block on two separate occasions. The first signature “justifies” the block, and the second “finalizes” it.

Minimmit cuts this down to a single signing round. This makes the process more efficient for validators across the network.

Advertisement

The change comes with a direct cost to fault tolerance, though. The new system’s threshold sits at 17%, compared to 33% under Casper FFG.

A smaller portion of malicious stake can therefore disrupt finality under the new model. Still, Buterin’s post makes the case that other properties of the system more than offset this drop.

In the post shared on X, Buterin described himself as a long-standing “security assumptions hawk” in Ethereum’s consensus research. He cited his past push for 49% fault tolerance under synchrony.

He also referenced his work on DAS for dishonest-majority-resistant data availability checks. Despite this record, he stated he is “even enthusiastic” about the proposed design.

The asynchronous network case also differs between the two systems. Under ideal 3SF, finality holds as long as an attacker controls less than 33% of stake.

The proposed gadget lowers that same protection to 17%. In both cases, any reversion of finality triggers massive slashing penalties against offending validators.

Advertisement

Censorship Resistance and the Broader Security Picture

Buterin’s argument centers on identifying censorship as the more dangerous threat. Unlike finality reversion, censorship produces no immediate, publicly verifiable evidence against the attacker.

A reversion event, on the other hand, results in automatic, large-scale slashing. This asymmetry is a core reason behind his support for Minimmit’s design.

Both systems require an attacker to control over 50% of staked ETH to carry out censorship. The key distinction lies in what happens at higher thresholds.

In 3SF, an attacker above 67% can finalize the chain unilaterally, removing any coordination point for honest validators. The new system raises that threshold to 83%.

Advertisement

Software bugs present another area where the proposed gadget holds an advantage. Under 3SF, a flaw shared by 67% of client software can accidentally finalize an incorrect chain state.

Minimmit raises that bar to 83%. This wider margin gives developers more time to identify and respond before errors become permanent.

Buterin also addressed the economic argument against finality reversion attacks. With 15 million ETH staked, reverting finality under 3SF would require slashing 5 million ETH, or roughly $10 billion.

He noted that the 17% baseline still represents an enormous deterrent on its own. From there, he argues the proposed system’s other properties make it the stronger overall consensus design for Ethereum.

Advertisement

Source link

Advertisement
Continue Reading

Crypto World

Ex-CFO Sentenced to Two Years after Diverting $35M to Crypto Venture

Published

on

Ex-CFO Sentenced to Two Years after Diverting $35M to Crypto Venture

Nevin Shetty was convicted of wire fraud related to secretly moving $35 million in funds from a Seattle startup to his own crypto platform in 2022 to use for DeFi investments.

A Seattle judge has sentenced the former chief financial officer of a local startup to two years in prison following his conviction for wire fraud related to a cryptocurrency business.

In a Thursday notice, the US Justice Department said Nevin Shetty would serve two years in prison after he “secretly moved approximately $35 million in company funds to a cryptocurrency platform he controlled as a side business.” He moved the funds to the HighTower Treasury platform in 2022 before a crypto market downturn, resulting in the disclosure of the transfer. 

Advertisement

According to the DOJ, Shetty was able to transfer the funds without any executives or board members at the Seattle startup knowing about it, then using the money to invest in “high-yield DeFi lending protocols that promised to generate returns of 20% or more.” He initially earned $133,000 in the first month before the collapse of the Terra ecosystem contributed to a significant market downturn. 

“[T]he cryptocurrency investments that Shetty made with the stolen funds soon began declining and by May 13, 2022, the value of the investments was nearly zero,” said the DOJ. “After the $35 million was essentially gone, Shetty told two of his fellow executives what he had done. He was immediately fired.”

Shetty was indicted on charges of wire fraud in May 2023 and found guilty on four counts in November 2025 after a nine-day jury trial. He has been ordered to pay back the stolen funds and be on supervised release for three years after serving his two-year sentence.

Advertisement

Related: Analysts reject Jane Street ‘10 a.m. dump’ claims, say Bitcoin isn’t easily manipulated

Former FTX CEO is still waiting on an appeal

Shetty’s 2022 case happened months before the collapse of cryptocurrency exchange FTX, which later resulted in the arrest and conviction of its former CEO, Sam “SBF” Bankman-Fried. SBF was sentenced to 25 years in prison in 2024 but has filed to appeal the ruling. As of Friday, the US Court of Appeals for the Second Circuit had not announced any decision since it heard arguments in November.