TechFlow news, according to CoinDesk citing sources, the U.S. Department of Justice is investigating Dylan Macalinao and Ian Macalinao, two brothers and developers behind Saber, a cross-chain stablecoin trading protocol in the Solana ecosystem. Sources said investigators are seeking information about the network of crypto projects associated with Saber, including Sunny Aggregator, a DeFi liquidity application in the Solana ecosystem, and the stablecoin project Cashio.
Previous reports indicated that Ian Macalinao, Saber's chief architect, was revealed last August to have used 11 fake identities, including Surya Khosla, developer of Sunny, a DeFi yield aggregator protocol in the Solana ecosystem; 0xGhostchain, founder of the algorithmic stablecoin project Cashio on Solana; and Goki Rajesh, founder of the multisig wallet Goki. Thanks to the TVL algorithm written by Ian Macalinao, billions of dollars in funds were counted multiple times across Solana’s DeFi ecosystem—particularly within projects like Sunny and Saber. Ian Macalinao previously stated he believed the explosive growth in TVL drove the surge in SOL’s price.Source link
