Summary

This summary isn’t going to offer any answers in black and white, some of the findings will be based on assumptions that have been made based on findings in related wallets that have not been documented due to time and/or the extent of work required, some findings will be based on assumptions from information here and from other areas of this investigation and some findings will be purely on the evidence offered by the blockchain. A simplified summary will be offered in the following weeks likely with some diagrams to make it easier to follow.

It’s not known who controls these wallets however what is known is that they are linked to a person or persons that are employed or own Bitcoinus.

Attempts have been made to conceal transactions by sending via multiple wallets however the nature of the blockchain makes this difficult to conceal but it does also make it difficult to follow when you are looking at regular transactions, internal transactions and ERC20 transactions.

There is plenty of evidence in the following information that would indicate extensive misleading and possible fraudulent activity by the wallet holders in the absence of any reasonable explanations.

This is a work in progress and more detail will follow however looking at this after performing the Miner One Analysis it raises many questions as the same scripted behaviour is observed. Extensive work needs to be done to uncover where the transactions lead to and from as there are substantial links just like Miner One and Golder Games between ICO’s and TokenDesk with wallets that contain suspect transactions totalling substantial amounts both in tokens and dollars.

There are also substantial questions surrounding the token swap event at Bitcoinus. This is detailed elsewhere but will require a duplication of effort as there are now two contract addresses.

<insert team wallet information here>

NOTE: All times are UTC unless specified and all values are in US Dollars at the time of the transaction.

Ethereum (ETH) Wallet Analysis

The first wallet to be looked at is one that received a high number of transactions from 748 wallets that had BITS distributed to them in small amounts at the time of token distribution. Like in the Miner One blockchain analysis these tokens were distributed into the wallets in amounts generally between 5,000 and 35,000 tokens to avoid detection.

What is unusual is that in many wallets the transactions have been duplicated as if someone ran a script twice, I haven’t seen this widespread like this before in legitimate transactions.

[Wallet-7f5b]

This wallet has two distinctive transactions that occurred and I will treat this separately to make this easier to explain.

Transaction 1 has 747 incoming transactions for a total of 11,783,141 BITS and one outgoing transaction for 11,783,141 BITS to a HitBTC wallet known as HitBTC 3 which has the following address

The outgoing transaction hash shows a value at the time of transferring to HitBTC of $15,447.60. The transaction was made on the 23rd of December 2018 at 20:32.

Looking at a small subset of the 748 transactions they were made between the 22nd of October 2018 at 18:18 and the 22nd of November 2018 at 10:56.

Transaction 2 has 1 incoming transaction for a total of 3,586,793 BITS and one outgoing transaction for 3,586,793 BITS to the HitBTC wallet known as HitBTC 3.

The outgoing transaction hash shows a value at the time of transferring to HitBTC of $5,165.07. The transaction was made on the 4th of October 2018 at 14:05 and the incoming transaction occurred at the 26th of September 2018 @ 19:19.

One single transaction for 3,586,793 BITS was made from the following wallet.


[Wallet-23C6]

This wallet receives two incoming ERC20 transactions from the BITS smart contract distribution on the 3rd of March 2018 at 19:24 and 19:53 both for 16,142 totalling 32,284. This is a red flag by itself. A single transaction on the 22nd of November 2018 at 10:56 UTC sends 32,284 BITS to [Wallet-7f5b].

This wallet also receives one incoming ETH transaction to cover the GAS cost. The amount of 0.001 ETH is transferred on the 22nd of November 2018 at 10:47. The wallet details follow.

The sending wallet has 232 transactions also made to the other wallets with BITS, there will be a few more of these wallets used to distribute ETH to cover the GAS cost. This wallet also received and sent 9,075 BITS.

[Wallet-5A58]

This wallet receives two incoming ERC20 transactions from the BITS smart contract distribution of 18,552 totalling 37,704 BITS. This is a red flag by itself. A single transaction on the 22nd of November 2018 sends 37,704 BITS to [Wallet-7f5b].

This wallet also receives one incoming ETH transaction to cover the GAS cost. The amount of 0.001 ETH is transferred on the 22nd of November 2018 at 10:47. The wallet is [Wallet-3776].

[Wallet-F96B]

This wallet receives two incoming ERC20 transactions from the BITS smart contract distribution of 15,614 totalling 31,228 BITS. This is a red flag by itself. A single transaction on the 22nd of November 2018 sends 31,228 BITS to [Wallet-7f5b].

This wallet also receives one incoming ETH transaction to cover the GAS cost. The amount of 0.001 ETH is transferred on the 22nd of November 2018 at 10:47. The wallet is [Wallet-3776].

[Wallet-7E5e]

This wallet receives two incoming ERC20 transactions from the BITS smart contract distribution of 19,442 totalling 38,884 BITS. This is a red flag by itself. A single transaction on the 22nd of November 2018 sends 38,884 BITS to [Wallet-7f5b].

This wallet also receives one incoming ETH transaction to cover the GAS cost. The amount of 0.001 ETH is transferred on the 22nd of November 2018 at 10:47. The wallet is [Wallet-3776].

[Wallet-a83B]

This wallet receives one incoming ERC20 transaction from the BITS smart contract distribution on the 10th of May at 19:36 for 19,861 BITS. A single transaction on the 23rd of October 2018 sends 19,861 BITS to [Wallet-7f5b].

This wallet also receives one incoming ETH transaction to cover the GAS cost. The amount of 0.001 ETH is transferred on the 23rd of October 2018 at 16:30. The wallet details follows.

The sending wallet has 212 transactions also made to the other wallets with BITS, there will be a few more of these wallets used to distribute ETH to cover the GAS cost. This wallet also received and sent 24,735 BITS.


[Wallet-7902]

This wallet receives one incoming ERC20 transactions from the BITS smart contract distribution on the 10th of May 2018 at 19:36 for 9,500,000. Between the 25th of September 2018 at 16:42 and the 26th of September 2018 at 19:20 there are seven outgoing transactions to different wallets ranging from 1,000 to 3,586,793 BITS.

This wallet also receives one incoming ETH transaction to cover the GAS cost. The amount of 0.1 ETH is transferred on the 25th of September 2018 at 16:35 from HitBTC 2 wallet.

0.096667958 ETH is sent to the following wallet where there are 338 .001 ETH transactions to other wallets containing BITS.

The following BITS transactions require further investigation. They prove the links to TokenDesk and the links from other ICOs to TokenDesk through the likely fraudulent movement of tokens that are unlikely to have any reasonable explanation.

These are sent from [Wallet-7902].

Leave a comment

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.