On Wednesday, decentralized finance (DeFi) investigator Zachxbt tweeted a lengthy thread about offshore TreasureDAO engineer Just Cheese, or JC, and his alleged past involvement with various non-perishable token (NFT) projects. According to the white paper, TreasureDAO is “a decentralized NFT ecosystem on Arbitrum designed specifically for metaverse projects.” The listed projects use the MAGIC ecosystem token for transactions, and TreasureDAO manages the version of MAGIC.
According to Zachxbt, the story began when JC shared his wallet address on the TreasureDAO Discord last November. The DeFi researcher then claimed to have traced a large chain of flows totaling 134.66 Ether (ETH) to the JC wallet for several NFT/token projects, including but not limited to Mutant Cats, ZombieToadz, and Yuta/YYYY — all projects. Zachxbt There was a break after the launch.
In the official TreasureDAO Discord announcement, the project team provided the following explanation:
“It is our understanding that Cheese did some UI/FE work on several projects that these bad actors contracted out during the Web 3 hack, but abandoned the projects long after they were handed over. She paid for their work, and Dow was unable to comment on the details of the work. Because taxes are running out.
Follow the team:
“We can comment on his [JC’s] efforts at Treasure which have been remarkable as they have contributed to all TreasureDAO UI/FE sites and products to date.”
Zachxbt is known in the blockchain community for its forensic methods of investigating the past behavior of blockchain developers. Last month, a DeFi investigator claimed that Michael Patrin, co-founder of the defunct Canadian cryptocurrency exchange QuadrigaCX, managed the treasury of the Wonderland DeFi project as an anonymous CFO. Users are still sharing it on social media, with TreasureDAO evangelist and director Cryptopantone tweeting:
Meanwhile, Josh11 #3105, a member of TreasureDAO’s official Discord, tried to emphasize the importance of accountability to the project, writing:
“Seriously, we can use the DAO money to pay Zach [Zachxbt] to internally check the wallets of all team members so we can handle everything inside and clean up all the junk and dust right away so we can move on.”
