When the highly anticipated TICKER presale launched on Base on January 16, it seemed like a promising project. Raising 877 ETH ($3.19M) through the Party App, the team outlined a clear token distribution plan: 24% for liquidity, 71% for presale/airdrops, 1% for early contributors, and 4% reserved for errors. However, trouble began immediately after the token generation event (TGE).
The Heist: How $900K Disappeared Overnight
Jolan Lacroix, a French developer entrusted with 15% of the TICKER supply for airdrop distribution, instead sold 13% of the tokens for $900K. Investors watched in horror as the project unraveled, leaving them with significant losses. The stolen funds were initially moved through Base Layer 2 addresses, leaving a trail that eventually led to Orbiter Finance and Ethereum. From there, Jolan bridged the funds to Solana using Mayan Swap and Allbridge, making tracking increasingly complex.
Jolan’s Public Taunts
Adding insult to injury, Jolan openly addressed the allegations on X/Twitter, confirming his involvement and showing no remorse. His posts, which mocked victims, were later deleted after he deactivated his account. By this time, he had already spent $161K on Milady NFTs and was actively trading meme coins, with over $140K sitting across multiple wallets.
The Investigation Begins
TrustFortPro, a forensic crypto investigation team, stepped in after securing screenshots of Jolan’s interactions with other team members. Using advanced tools and databases, they uncovered Jolan’s identity and location in France, tying him to the theft through wallet addresses and a phone number linked to his Telegram account.
The Resolution: Recovering the Funds
Through collaboration with victims and leveraging their expertise, TrustFortPro worked tirelessly to track the stolen funds. In an unexpected twist, Jolan’s admissions on X/Twitter and the transparency of blockchain transactions became key evidence. The team successfully recovered the stolen $900K and returned the funds to victims, restoring some faith in the crypto space.
Lessons Learned
This case underscores the importance of due diligence when investing in crypto projects, especially when teams are anonymous. TrustFortPro’s swift action highlights how crypto crimes can be resolved when expertise and persistence align. For victims, there’s hope: blockchain transparency ensures that even in a decentralized world, justice can prevail.