A Race For The Truth: Fantom Vs. Rekt, What Went Down

A recently taken down investigation by Rekt News about the Fantom Foundation dug into several moves that could point to a lack of transparency from the DeFi platform. The article had called it “an elaborate scheme,” but apparently failed to approach the subject with enough accuracy. 1-2 hours after publishing the piece, Rekt deleted it and tweeted an apology. An archive from the original investigation can be found here. This response from Rekt was not seen as clear enough by their readers. Why didn’t they publicly clarify their mistake? Several users have pointed out that it is fundamental for crypto journalism to carefully fact-check allegations because they could have an impact on the market. However, the readers who debunked the investigation also added important data and signaled that there might still be gaps of information about Fantom that need to be looked into. A Quick Sum-Up Following the news of Andre Cronje and Anton Nell leaving the DeFi and crypto space, Rekt took a look into the first wallet of farm YFI (wallet 0x431), which they had previously started to investigate. “We found that 0x431 had an unmatched level of power over the entire network, all in the hands of one EOA wallet.” Seemingly, the 0x431 wallet had made huge transfers in FTM over the last 5 months ($750M in FTM) “using another address as a buffer before sending to Binance.” This and many other details found...