- The Ethereum Foundation faces serious allegations of being linked to the 2016 Gatecoin hack, according to a forensic analyst.
- TruthLabs and Steven Nerayoff point to transactions that would directly link the Ethereum Foundation to the hack.
The Ethereum Foundation is under suspicion after blockchain forensic analyst TruthLabs, backed by former Ethereum consultant Steven Nerayoff, made strong accusations about its alleged involvement in the major 2016 Gatecoin hack.
In a detailed analysis, TruthLabs exposes a number of Ethereum transactions and wallet addresses that they say link the Ethereum Foundation to the hack. Particular attention is placed on four Ethereum addresses, of which 0x1342a0 is the epicenter of the accusations.

TruthLabs Links Ethereum Foundation to Hack.
The Gatecoin hack, which occurred between May 9 and 12, 2016, preceded the famous DAO hack and occurred at a time of market turbulence cryptocurrency market. TruthLabs analyzes the activities of the address 0x1342a0 before the hack, highlighting transfers and contracts that it says indicate the involvement of the Ethereum Foundation.
The key to these accusations lies in the address 0x556b, which according to TruthLabs received funds directly from the Ethereum Foundation’s main wallet and sent them to the hacking address 0x8266 at crucial moments. This finding establishes a direct financial connection between the Ethereum Foundation and the alleged Gatecoin hackers.

The Ethereum Foundation Connection → Source: X @BoringSleuth
The article also speculates on the possible motive behind this alleged involvement, suggesting that the Ethereum Foundation may have been facing a financial crisis at the time, expecting to run out of funds by June 2016.
Steven Nerayoff, corroborating these accusations, underlines the seriousness of the problem and the need for responses from the Ethereum Foundation. He warns that silence could be interpreted as an admission of guilt, generating an urgent demand for accountability.
So far, the Ethereum Foundation, which includes prominent figures such as Vitalik Buterin and Joseph Lubin, has remained silent in the face of these accusations. The lack of response has fueled speculation in the crypto community, intensifying calls for deeper and more transparent investigations.
This scenario places the Ethereum Foundation at a crossroads, faced with the need to address the allegations clearly and forcefully in order to maintain the trust of the crypto community. The lack of clarity could have significant repercussions on its reputation and overall perception of the ecosystem towards this fundamental entity in the world of cryptocurrencies.