Address Linked to Wonderland's Sifu Cashes Out $5.5M Worth of Ether

Sifu is an alleged serial scammer who has previously been convicted.

AccessTimeIconFeb 1, 2022 at 12:18 p.m. UTC
Updated Feb 1, 2022 at 10:54 p.m. UTC

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Sifu, the pseudonymous treasurer of Wonderland and co-founder of crypto exchange QuadrigaCX, started moving his funds through coin mixer Tornado Cash, according to on-chain data.

  • The address sifu.eth had sent about 1,000 ether ($2.77 million) to Tornado Cash since around 7:00 UTC on Tuesday. The address has been linked to the Wonderland treasurer, an alleged serial scammer whose record includes a conviction and deportation.
  • Another 1,000 ether was sent to Tornado Cash five hours later, bringing the total to $5.54 million.
  • "It is impossible to determine with certainty whether the scammer is in control of the address, but given the particular case it is likely," chief technology officer of crypto wallet ZenGo, Tal Be'ery, told CoinDesk.
  • Last week, Wonderland's treasurer was also revealed to be the co-founder of failed Canadian exchange QuadrigaCX, Michael Patryn.
  • Wonderland's TIME token lost as much as 32% immediately after the revelation. TIME has lost nearly 60% of its value compared to last week, according to data from analytics tool CoinGecko.

UPDATE (Feb. 1, 15:00 UTC): Adds later transactions in second bullet; updates headline figure.

UPDATE (Feb. 1. 22:54 UTC): Replaces "laundering with a neutral verb in the first paragraph.


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Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

CoinDesk - Unknown

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.