Wonderland’s treasury saga exposes the fragility of DAO projects today

[Pagla]

The Wonderland protocol became the talk of the decentralized finance (DeFi) world after the platform was found at the center of a brewing controversy.

On Jan. 27, DeFi analyst zachxbt revealed that one of the anonymous co-founders of Wonderland happened to be QuadrigaCX co-founder Michael Patryn, who has been operating under the name of Sifu.

QuadrigaCX is a defunct crypto exchange from Canada which closed when Gerald Cotten, the exchange founder and sole person with knowledge of the exchange's wallet keys, passed away. Following his death, $169 million worth of user funds were irreversibly lost.

Cotten's passing led to a wave of litigation as former exchange users sought to recover their funds. Others in the crypto community claimed that Cotten faked his death to get away with the allegedly stolen crypto.

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