Late Friday night, decentralized finance or DeFi, researcher @zachxbt posted a series of tweets accusing scammer Omar Zaki of hiding behind the façade of 0xbrainjar, an anonymous head of product at Composable Finance.
From November of last year to February of this year, Composable Finance raised over $167 million through seed funding as well as crowd auctions on the Polkadot (DOT) and Kusama (KSM) parachains. Over 9,000 members have contributed to the DOT crowdloan alone.
Omar Zaki, then a 21-year-old New Yorker and Yale graduate with a bachelor’s degree in physics and economics, was charged with fraud, according to zachxbt, citing filings from the US Securities and Exchange Commission, or SEC. after misleading investors while running an unregistered hedge fund, resulting in a civil fine of $25,000. In addition, two cryptocurrency projects allegedly run by Zaki, Warp Finance and Force DAO, were allegedly affected by the hack, resulting in a loss of $8.367 million, some of which was partially recovered.
1/ I discovered that there is another scammer behind several projects in space. This time @0xbrainjar aka Omar Zaki pic.twitter.com/okCgzoO1Rz — zachxbt (@zachxbt) February 18, 2022
The DeFi researcher allegedly linked the two identities together by first creating a recording Telegram for messages on both Zaki’s personal account and Anon account, where both messages were “read at the same time.” zachxbt then contacted people who “confirmed an anonymous identity link to Yale + physics/economics.” Finally, zachxbt stated that the phone number is linked to the developer’s name, but it’s not clear how he links Zach’s identity to 0xbrainjar.
zachxbt is known in the blockchain community for his sleuthing skills in debunking the story of anonymous DeFi project developers. Last month, a DeFi sleuth correctly discovered that the co-founder of the defunct QuadrigaCX exchange, Michael Patrin, served as CFO in Wonderland. Just a few days later, the Avalanche-based reserve currency was shut down after the negative publicity surrounding the revelation caused a sharp split in the community.
This story is evolving and will be updated as more details become available.