WERE ETH AND EOS REPEATEDLY RECYCLED DURING THE EOS INITIAL COIN OFFERING?
In this white paper we apply tools from forensic investigation to examine the EOS ICO, the largest in history. We identify suspicious accounts on the Ethereum blockchain that repeatedly sent Ether from exchanges to buy EOS at the crowdsale wallet, and then quickly returned EOS to the same exchanges. These suspicious accounts accounted for almost a quarter of EOS purchases by the end of the crowdsale.
The paper then examines the nature of the activity of these suspicious accounts as well as their corresponding impact on the price of EOS during its ICO.