Wonderland Users Vote to Sink $25M Into SIFU Vision Tokens
Wonderland users have overwhelmingly voted to invest $25 million in tokens created by their former Chief Financial Office (CFO), 0xSifu.
The vote which closed on Friday showed that 89.27% of respondents were in favor of the proposal to buy up $25 million $SIFU vision tokens.
According to 0xSifu, $SIFU vision will be “continuing the vision that I originally had for Wonderland, without the friction of conflict of interest and DAO.”
Earlier this year, the Wonderland community voted by 87.56% to oust 0xSifu from the protocol after it was revealed that he was a convicted fraudster and felon.
Who is 0xSifu?
In Jan, an investigation by crypto sleuth ZachXBT revealed that 0xSifu was the pseudonym of the convicted fraudster Michael Patryn. Patryn legally changed his name in 2003 from Omar Dhanani to Omar Patryn, and in 2008 to Michael Patryn.
Patryn is linked to a long list of crimes dating back to 2005 including bank card fraud and identity theft. Patryn eventually spent 18 months in a U.S. prison after expanding his criminal resume to include burglary, grand larceny and computer fraud.
After his release from jail and deportation to Canada, Patryn went on to become the co-founder of the notorious Canadian crypto exchange QuadrigaCX in 2013. Patryn’s involvement ended in 2016 when fellow co-founder Gerald Cotten sought to take the disaster-exchange public.
In 2018 Cotten died, whereupon it was revealed that almost $200 million of users’ funds were missing. QuadrigaCX has since become a byword for the very worst that the crypto industry has to offer, growing to a scandal of such epic proportions the affair has been immortalized with a Netflix documentary.
Under the 0xSifu identity, Patryn later inveigled his way to the top of Wonderland’s hierarchy, gaining control of a treasury which, at its peak, was valued at $1 billion. Even as Wonderland became increasingly successful, his involvement almost guaranteed its collapse.
Project leader Daniele Sestagalli then decided to end the project against the wishes of its community.
Funds are in Sifu hands
Following the collapse of Wonderland, Sifu was swift to cash out his multi-million-dollar Ethereum stash. In total, Patryn transfered $8.3M through crypto mixing service Tornado Cash. Now the former QuadrigaCX and Wonderland man can focus on his next bold endeavor, Sifu Vision. Whatever that vision is, there is every reason to believe it will be a huge financial success for Michael Patryn.
Everyone else will just have to take their chances. The question most people might ask is “Why?”
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