French Developer Accused of $900K Theft from TICKER Presale on Base: An Investigation

Insurance fraud image from MIDA's X account and a hacker

A French developer, Jolan Lacroix, is embroiled in controversy after allegedly orchestrating a $900K theft from the TICKER presale on Base. The incident, which occurred shortly after the presale raised 877 ETH, involved Lacroix selling off a significant portion of the TICKER token supply intended for distribution.

Theft of Funds

A recent incident involving a French developer, Jolan Lacroix, has sparked outrage within the crypto community after allegations surfaced of his involvement in theft of funds from the TICKER presale on Base. The presale, launched by TICKER on March 16, raised 877 ETH, equivalent to approximately $3.19 million, through Party App on Base. However, what was meant to be a promising start for the project quickly turned into a nightmare.

A report from ZachXBT, the online sleuth said that the token distribution plan outlined 24% for LP, 71% for presale/airdrops, 1% for early contributors, and 4% reserved for errors. Despite the project team’s anonymity, suspicions arose immediately after the token generation event (TGE). A sizable portion, 15% of the TICKER supply, was entrusted to Jolan for facilitating the airdrop distribution.

The Sell-off

However, instead of fulfilling this responsibility, Jolan allegedly proceeded to sell off 13% of the supply, totaling $900K, effectively rug pulling investors and supporters of the project.

The transaction hash (0x3122445f0240df9530c8a360fb7631ad5aca4e24503e8856b9aedae05dab830c) marks the point where the theft occurred. Following the incident, efforts were made to expose Jolan’s actions, with screenshots shared from previous interactions shedding light on the situation. Posts on platforms like Warpcast and X aimed to alert the community to Jolan’s involvement in the theft.

Covering the Trail

Fund trail

In an attempt to launder the stolen funds, Jolan reportedly utilized various platforms for bridging the ETH from Base to Ethereum, notably Orbiter Finance (transaction hash: 0x88cbe19d072c4cea4778c532a5d9d72ee01f4fbb), and subsequently transferred the assets to Solana using Mayan Swap and Allbridge (transaction hashes: DCQATk3kKtf2cVns52eYMK5jopyNrUgVBNTaodGSZ6pp, 2iLuEtoyaCM1Pin7PSMeKGnjFCVtcm3yyosB3gf4op8i).

His activities were followed up and exposed by the diligent investigation of blockchain scam trackers.The incident serves as a cautionary tale for investors and underscores the importance of due diligence in the crypto space.

Author: Candace

Candace loves the arts. She holds some bitcoins.