Ethereum Is The Next FTX, Crypto CEO Says

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Samson Mow, CEO of JAN3, stirred controversy by comparing Ethereum to the collapsed crypto exchange FTX on X (formerly Twitter), linking his claim to a tweet by on-chain sleuth "TruthLabs."

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TruthLabs' tweet reveals a connection between a founding ETH developer and the "Blockchain Bandit," a notorious figure in crypto thefts. 

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The developer sent Ethereum to the Bandit during a period of widespread wallet draining, raising concerns about a potential inside link and a cover-up.

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Further allegations by TruthLabs in October 2023 implicate core ETH developer Christoph Jentzsch in the DAO hack.

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Steven Nerayoff, a former Ethereum advisor, expresses outrage over the lack of media coverage and prepares a lawsuit against ETH founders Vitalik Buterin and Joseph Lubin for alleged fraudulent activities.

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The "Blockchain Bandit" is known for exploiting weak private keys and stealing over $90 million in cryptocurrency. 

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Recent movement of stolen funds has reignited interest. The DAO hack, a significant incident in crypto history, involved a smart contract vulnerability leading to the theft of over $50 million in Ether.

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Samson Mow's comparison has raised questions about Ethereum's security, governance, and history. 

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The crypto community awaits concrete evidence or rebuttals to these serious allegations. ETH is currently trading at $2,691.