Executive Director of Composable Finance declassified as fraudster Omar Zaki
In his investigation, the investigator relied on the documents from the US Securities and Exchange Commission
20.02.2022 - 08:00
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What’s new? DeFi investigator @zachxbt has published a series of tweets announcing that fraudster Omar Zaki is hiding under the pseudonym 0xbrainjar. The nickname belongs to an anonymous head of product at Composable Finance.
1/ I have found there is another fraudster in the mix behind multiple projects in the space. This time being @0xbrainjar aka Omar Zaki pic.twitter.com/okCgzoO1Rz— zachxbt (@zachxbt) February 18, 2022
How did events develop? According to @zachxbt, Omar Zaki was charged with fraud after misleading investors by running an unregistered hedge fund. The investigator relied on the documents from the US Securities and Exchange Commission in his investigation. In addition, two crypto projects allegedly run by Zaki, Warp Finance, and Force DAO were allegedly hacked. This resulted in a loss of $8,367 million, some of which were recovered.
What had happened before? In January, @zachxbt correctly uncovered that the co-founder of the defunct QuadrigaCX exchange Michael Patryn held the position of the chief financial officer at Wonderland. Patryn had previously been convicted of credit card fraud. Just days later, the Avalanche-based reserve currency shut down after negative publicity surrounding the disclosure caused a sharp divide in the community.
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