A group of community investigators analysing on-chain data related to the SNS FuelEV sale has highlighted a series of transactions that they believe warrant further scrutiny. The analysis, originally discussed on Dfinity’s Forum, reflects independent observations from blockchain participants and does not represent an official investigation.
According to these community reports, multiple wallets engaged in transactions that appear interconnected. These wallets followed a similar funding pattern, often beginning with a test transfer of a single ICP from Kraken before executing full transfers. A subset of these wallets reportedly funneled funds through intermediary addresses before depositing them into what some have termed a “linking wallet.” This wallet then redistributed substantial amounts to other addresses, creating a sequence of transactions that some argue may have obscured the source of funds.
One of the focal points of this discussion is a wallet that received 100,010 ICP, later transferring the same amount back to Kraken. On-chain timestamps suggest these transfers occurred in close succession, prompting speculation from community members that the funds may have been circulated for reasons yet to be fully understood.
Further analysis linked additional transactions to another wallet, which received 150,000 ICP through two large transfers. Some community observers have pointed out that these funds are associated with the DOLR AI Governance Canister, which holds governance authority over YRAL.AI (formerly HotOrNot). Notably, this governance canister executed two proposals, 99 and 100, facilitating the movement of funds that were later involved in the FuelEV sale.
The timeline of these transactions—occurring between 07:59 AM and 12:50 PM UTC on January 12, 2025—has drawn attention due to its precision. Blockchain participants have noted that such tightly coordinated activity is uncommon in routine investment behaviour, though no official conclusions have been drawn.
Observers have also raised questions about the interaction between governance-controlled assets and private transactions. While some believe the movement of funds could reflect standard treasury management, others argue that additional transparency is needed to ensure fair participation in SNS sales.
As of now, there has been no official response from YRAL.AI or other relevant entities regarding these findings. Community discussions continue to explore potential implications, with some members suggesting that if funds linked to governance mechanisms were utilised in a way that influenced the sale’s outcome, it could raise broader concerns about decentralised governance integrity.
For now, stakeholders within the blockchain space are calling for greater transparency and further examination of treasury-linked transactions and SNS sales. Whether these discussions will lead to formal investigations or policy changes remains to be seen.
Disclaimer:
This article is based on publicly available blockchain data and discussions from independent community members on Dfinity’s Forum. The observations presented reflect their interpretations of on-chain activity and do not constitute definitive conclusions about any individual or entity’s actions.
The content herein does not allege misconduct or wrongdoing but instead highlights blockchain transactions that community members have identified as unusual and believe warrant further discussion. We encourage all readers to conduct their own research and seek official statements from relevant parties before forming conclusions.
We welcome any clarifications or statements from YRAL.AI, FuelEV, or other relevant entities regarding the findings discussed in this article. If there are inaccuracies or missing context, we are happy to update the story to ensure fairness and accuracy.
