Clearing the mist around the Ethereum OGs and Shiba Inu connection (Part 1)
Extensive blockchain research on the origin of Shiba Inu leads to interesting insights. We are connecting Vitalik Buterin related wallets to Shib Deployer’s wallet.
The Six degrees of separation rule states everybody is only a few handshakes away. In the case of blockchain transactions, we would argue that is the case.
In this research project, we try to clear the mist around the alleged relationship between the Shiba Inu project and some Ethereum core developers and researchers.
While often the utility or ownership of a wallet remains unclear, sometimes, if you read between the lines, you’ll come closer to the answers you’re seeking for. Remember, the truth comes in many forms.
A little history about Vitalik/Eth Devs and Shiba Inu: the conspiracies
Rumors and conspiracies are far from new about Vitalik’s (Vb) or Karl Floersch’s (Optimism) alleged involvement with Shib or a relationship to the Shib originators.
The argument mainly derives from the fact Shib’s initiator, Ryoshi published the suggestive statements himself. Therefore the real meaning of these suggestions, and the accuracy of the conclusions drawn from them, can’t be validated — and therefore are doubted by many. Vitalik denied involvement in his famous Lex Fridman interview.
Ryoshi, the infamous and anonymous founder of Shib, made in his Medium articles suggestive statements about a ‘fren’ who he met in Osaka and funded the project.
First thing is I had a fren that i met at devcon last year in Osaka who has some influence in the space, we talk sometimes about Crypto philosophy and I told him the vision and he agreed to help. So he made a token contract and put half of it on Uniswap with 10ETH pair (he is successful business man so 10ETH is nothing for him) and threw away the liquidity keys so the ETH or the tokens can never be withdrawn. He then transferred the rest to me to do my part. — Ryoshi in his inaugurative article on Medium
Ryoshi added the following picture from a moment Ethereum key developers and researchers visited the famous Akita Kabosu.
In the picture we see the well-known ETH developers and researchers Vitalik Buterin, Karl Floersch (Plasma, Optimism), Aya Miyaguchi (Eth Foundation), Thomas Grego (OMG/Omise), and Virgil Griffith (Eth Researcher).
A little history about Vitalik and Shiba Inu: the token drop and burn.
Shib sent half its supply to the publicly known Vb ethereum-address; since he disclosed this address publicly in 2018, this could have been done without the knowledge or interference of Vitalik.
https://etherscan.io/address/0xab5801a7d398351b8be11c439e05c5b3259aec9b
For many people, the suggestion was made that Vitalik was the actual ‘fren’ who helped Ryoshi.
So far so good, the rest is history. Vitalik burned 80% of the received Shib and donated 20% to good causes.
“I saw these dog tokens and I saw more and more people talking about them, and at some point I realised these things are worth billions of dollars, and there’s lot of really good things you could do with that,”
— Vitalik Buterin
This is by any means not breakthrough evidence — anyone could have done a similar token drop, and written up an appealing and suggestive story as Ryoshi did.
Was the token drop really their first blockchain interaction?
What if before Shib was deployed, there was related blockchain interaction with a wallet correlated to Vitalik and a large number of Ethereum OGs?
Let’s dive deeper into the rabbit hole of Etherscan.
Shib Token is created on Jul-31–2020 by the wallet now called ‘Shib Deployer’.
The transaction; https://etherscan.io/tx/0x0a4022e61c49c59b2538b78a6c7c9a0e4bb8c8fce2d1b4a725baef3c55fb7363
Before that, the wallet became active from Feb-18–2018, besides some small transactions his/her interest is mainly for Crypokitties. It suggests the wallet was initially created for this purpose.
The activity was until Jul-09–2018, remained silent for two years, and became active again: Jul-22–2020. Short before Shiba Inu was created Jul-31–2020.
The Opensea account confirms Shib Deployer’s wallet belongs to the infamous Ryoshi.
Feb-19–2018 — Shib Deployer makes its first real transaction (remember, by then not ‘Shib Deployer’ — just a regular wallet). In two steps it reaches Wallet X (0x21357b). The in-between steps are not regular wallets, but collecting some funds and only making one transaction forward in order to reach Wallet X.
Sends a small amount of ether to this wallet; https://etherscan.io/address/0xf230669d4b13dafaccc46bfa62bae6f2255a305b
The wallet only contains 3 transactions ever. Two incoming, one outcoming.
Feb-21–2018 — The wallet sends funds to the following wallet; https://etherscan.io/address/0xaad3ce1d2cbe7a80976ffa953aeb8428edc06127
This wallet only has 17 transactions, 16 incoming, 1 outgoing.
Feb-27–2018 the wallet sent funds to the following wallet;
https://etherscan.io/address/0x21357b3dcb7ae07da23a708dbbd9a2340001a3f4 (Wallet X)
What makes Wallet X so significant?
The wallet only has 247 transactions, beginning Jan-18–2018, and the latest Aug-29–2021.
https://etherscan.io/address/0x21357b3dcb7ae07da23a708dbbd9a2340001a3f4 (Wallet X)
Few notable insights on this specific wallet;
- Mar-02–2018 — Outgoing transaction to Hsiao Wei Wang (Ethereum Core Researcher).
- Mar-20–2018 — Incoming transaction by ‘WHG: Jordi Baylina’ (Ethereum Developer)
- May-17–2018 — Outgoing transaction to Jon Choi (Ethereum Foundation)
- Feb-13–2018 — Incoming transaction from patricioworthalter.eth (POAP Protocol)
- Incoming transaction from Hudson Jameson (ex. Ethereum Core Researcher).
- Apr-19–2018 — jefft.eth (Jeffrey Tong, Eternal.gg and close to ETH Core Researchers)
- Multiple incoming transactions from F2Pool (old) (Ethereum Mining)
Amongst many other wallet trails that lead to developers, advisors, researchers, and investors around the Ethereum Project.
But that is only the beginning.
The involvement of Vitalik Buterin, one of the creators of Ethereum.
The Blockchain does not lie and reveals multiple interactions of Vitalik with Wallet X.
- Aug-03–2020 — The wallet received two payments with a total of 2,021 Ether by another OG, which goes by the name of Vitalik Buterin ;). Vb 2 is a verified address of Vitalik. https://etherscan.io/tx/0xeadc11cfb36fe807fddc41c90899db0d9ecc8efb0385c0b7d614d699840fc89a
- Mar-25–2020 — Incoming transaction of 18 eth from Wallet Y to Wallet X https://etherscan.io/tx/0x1015f0d9fe79cc41cc5a1c7c8e4f31e8f89d5c642cfe8ad6ad470ff91a07419c
- Wallet Y is initially funded by Vitalik’s wallet Vb 2
https://etherscan.io/txs?a=0xe692869347b9b18ef2deed19ae1bbace303b52b0&p=7
- Apr-23–2018 — Wallet Y’s earliest interactions are with Vitalik (Vb 2) — 500eth outgoing
https://etherscan.io/txs?a=0x4a10a580a10a0fbe3fc1624c1d348838184d7664
- Over a longer period, Vitalik (Vb 2) interacts with this wallet.
More interactions of this wallet can be connected to:
- Ethdev smart contract
- Hsiao Wei Wang (Ethereum Core Researcher)
- johnchoi.eth (Ethereum Foundation) — actually being one of the first incoming funds of his personal wallet
- Deeper wallet/ethscan trails lead to wallets with large amounts of ETH, Uniswap (UNI), and more Ethereum Foundation Devs such as Pablo Pettinari.
Where is smoke there is fire?
For a wallet with only 247 transactions over 3.5 years, there is quite a high concentration of ETH OGs, including Vitalik — so to dismiss the theory, it is not related to ETH Core circle or Vitalik himself would be very ignorant. Also, many adjacent wallets all suggest the wallet being close to a group of Ethereum Researchers and Developers.
What could this all mean?
- The rumors were always there since the inception of Shib in 2020, but prove was always based on the words of Ryoshi and the Token Drop by Shiba Inu.
- Now we prove that over two years before the inception of Shib, the Shib Deployer wallet had its first interaction with Wallet X. A wallet with solid ties to Vitalik and Eth core developers and researchers.
- It is difficult to make sense of the in-between steps, but since the transactions only go in one direction, it is fair to say Shib Deployer’s wallet intended to let the funds land at Wallet X. It is unclear what and why this transaction took place.
Final words.
We’re very grateful to Vitalik, the Ethereum Project and Foundation, and the contributing developers and researchers. The fundamental infrastructure for trust and security they’re building is world-changing.
We’re also great believers in Shib as a movement; it reveals itself as a great social and public experiment in decentralized community building and has a bright future. More utility is in development by, for, and around the many $shib holders worldwide.
We should understand that the original deployer(s) of Shib might never reveal themselves — nor Vitalik or other Eth developers in case they’re indeed involved. Taking ownership over the project would be against the concept of true decentralization. But don’t be discouraged; the idea that some of the greatest minds in the world might have given the vision for the Shib movement might be enough to put belief in the project.
We want to keep this article open-ended and continue with more publications because there is more. Please read thoroughly, verify all sources and wallet trails yourself and be open-minded.
Figaro Research. Fishermen of truth.
twitter.com/FigaroResearch
