Global Finance and the Green Transition

CALLING OUT A FOUL PLAY IN DECENTRALIZED FINANCE (or DeFi): Gabagool.Ξth . . .Airdrop Ethics

Look what's been unleashed and turned-loose -- ". . .Even as other corners of the cryptocurrency world edge toward the mainstream, this fast-moving, nihilistic mirror-world of precious tokens and runaway meme-coins remains largely beyond the purview of regulators—as the overall value of the cryptocurrency invested in DeFi platforms has surpassed $250 billion, according to data aggregator Defi Llama . . ."

Twitter Vigilantes Are Hunting Down Crypto Scammers

Open source investigators are struggling to maintain law and order in the wildest recesses of cryptocurrency’s Wild West.

Illustration: Elena Lacey; Getty Images

Gian M. Volpicelli

Wired

 

"Early last month, a jargon-laden post by a pseudonymous Twitter handle set off a storm in the cryptocurrency world.

The account called itself Gabagool.Ξth (a blend of references to the The Sopranos and the Ethereum blockchain) and featured a fuchsia nebula as a profile picture.

It called out what it saw as foul play in decentralized finance, or DeFi—a galaxy of blockchain-based apps providing cryptocurrency lending and exchange services. Creators of DeFi protocols often foster user loyalty by staging “airdrops”: distributions of cryptocurrency tokens rained down unannounced on users who have deposited a certain amount of cryptocurrency on the network. In May, a service called Ribbon carried out such an airdrop, doling out 30 million Ribbon tokens to 1,620 wallets. The tokens were designed so that they could not be cashed out until October 8.

On October 8, Gabagool spotted something suspicious.

A cluster of 36 wallets that had received the Ribbon tokens had swiftly exchanged them for the popular ether cryptocurrency, then transferred the ether to one cryptocurrency wallet. Gabagool thought that the person or people behind that wallet had likely created the 36 Ribbon accounts shortly before the airdrop, to maximize their chance of getting tokens. By Gabagool’s calculations, the wallet to which they were transferred accrued at least 652 ether, valued at $2.3 million at the time. “I thought, ‘OK, this person kind of gamed the airdrop,’” the man running the Gabagool handle tells me in a phone call.

That kind of chicanery is not unusual in cryptocurrency trading, a sphere where fake identities and sock puppets abound. Then Gabagool discovered who owned the wallet:

By cross-referencing the address with information from Twitter and crypto-wallet register ENS Domains, Gabagool concluded it belonged to Bridget Harris, a junior employee at Divergence Ventures, a San Francisco-based venture capital firm that has invested in over 50 cryptocurrency projects—including Ribbon.

Gabagool saw that as dishonest. He wondered whether, as a Ribbon backer, Divergence Ventures might have had advance knowledge of the airdrop and then used that intel to milk millions out of it by converting the Ribbon tokens to ether. “They attempted to exploit that information to extract profit, and they did so while publicly stating to be very bullish and excited about Ribbon,” he says, comparing the actions to insider trading. Gabagool distilled his information in a tweet, which “kind of blew up” as soon as he fired it off, he says.

Divergence Ventures denied insider knowledge about the airdrop but later admitted to “crossing a line”; it eventually returned the ether to Ribbon. In the wake of the incident, reference to the Ribbon investment disappeared from Divergence Ventures’ website. Divergence Ventures did not reply to a request for comment, and Harris did not reply to several requests for an interview via Twitter.

> Gabagool is among an emerging breed of sleuths bent on spotting, tracking down, and exposing questionable practices in the budding DeFi world.

Cryptocurrency is intended as electronic money that users can exchange anonymously and without intermediaries. But that anonymity comes with transparency: Cryptocurrency transactions are inscribed in an open digital ledger, the blockchain, which provides a record of how assets flow through the system. Companies such as Chainalysis and Elliptic have created software to aid law enforcement investigations into illicit activities involving cryptocurrency. In contrast, these new amateur detectives rely on their hunches and tips from others, use free tools to examine blockchain activity, and broadcast their findings from pseudonymous Twitter accounts like Gabagool, Zach, and Sisyphus.

Gabagool says he noticed the questionable Ribbon activity while poring over Etherscan, a tool to keep track of blockchain transactions. He and other sleuths say they are animated by a penchant for investigative work, resentment, or frustration with the brazenness of some people in the space. They say they are trying to save DeFi from itself—by becoming its sheriffs.

DeFi is arguably the wildest recess of cryptocurrency’s Wild West. Its advocates cast it as a happy digital island where investors have eliminated financial middlemen to interact on a peer-to-peer basis. Practically, it can at times resemble the digital equivalent of touring Las Vegas high on LSD. DeFi protocols are often run as decentralized autonomous organizations: online-only operations that claim to be managed collectively by users rather than by a C-suite. Most DAOs provide financial services via self-executing software programs, which users can mix and combine to devise unique trading strategies. New shiny crypto-tokens are constantly launched, generally on the Ethereum blockchain; users earn tokens as interest by parking cryptocurrency on a decentralized exchange, or just by playing videogames. Non-fungible tokens, or NFTs—cryptographic stand-ins for memes and pieces of digital art—are sometimes accepted as collateral for cryptocurrency loans.

[. . .] Read more at Wired Magazine here.

But when shame doesn’t prompt change, there’s little one can do. Many of the behaviors that crypto-sleuths expose take place in a regulatory vacuum. “Insider trading has a very specific meaning—using nonpublic information when trading on the stock market,” says Nick Price, a crypto-asset disputes specialist at law firm Osborne Clarke. “These tokens are not stocks and shares. NFTs aren't regulated, so it is not insider trading.”

Cases of fraud, such as thefts of crypto or manipulating a smart contract, can be reported to the police, Price says. But he says the level of scrutiny coming from the cryptocurrency community, and the quality of the information that it can crowdsource, is “unprecedented.” . . .

[. . .] Read more at Wired Magazine here.

Gabagool acknowledges that there is a “sinister side” to policing by Twitter. “I think, for some people, it's reminiscent of a kind of ‘cancel culture.’ But that was really not my intention,” he says. For him, self-regulation is still the best route to preserve DeFi’s space of freedom and innovation. Failing that, he fears that “there will be something else that emerges. And I can't guarantee that alternative will be beneficial for the community,” he says.

It might already be too late to stave off that scenario. In September, the US Securities and Exchange Commission launched an investigation into Uniswap Labs, the developer of DeFi exchange Uniswap.

SEC chair Gary Gensler has said some DeFi protocols could eventually be subject to securities regulations.

“The question is, do we use an open system people created themselves? Or do we use the long arm of the state?” Amador says. “Either way, we'll end up with some form of regulations—there's no doubt about that outcome. Right now, we are still in that adjustment period.”

#gabagools #foulplay #scammers #profilepicture #gabagoolξth #vigilantes #gabagool #wallets #bridgetharris #divergenceventures

RELATED CONTENT

Twitter vigilantes unmask major attack on Ethereum’s DeFi

Global Happenings | 2021-11-17T22:29:16+00:00

Alleged Twitter vigilantes track them down cryptocurrency scammers. Earlier last month, a user posted an alert message to the network, which sparked a stormy storm in the world of digital currencies. The account was browsing under the nickname of Gabagool.Eth, as if to refer to the sopranos and the blockchain Ethereum. His profile picture was a fuchsia nebula.

Gabagool.Eth’s mission is to denounce a malicious maneuver that allegedly took place in the field of decentralized finance or DeFi. The DeFi ecosystem contains a myriad of blockchain-based applications, and offers cryptocurrency lending and trading services. The creators of DeFi protocols use the organization of « airdrops » in order to retain their users.

Completely unforeseen token distributions would take place, often to the benefit of users who have deposited a certain amount of cryptocurrency into the network . . "Continue reading

 

‘QAnon Shaman’ Jacob Chansley Sentenced To 41 Months In Prison ...

Arizona Governor Ducey Hosts Fellow Republican Governors For RGA 2021 Annual Conference This Week in Phoenix

FOR IMMEDIATE RELEASE November 17, 2021

Governor Ducey Hosts Fellow Republican Governors For RGA 2021 Annual Conference

PHOENIX — Governor Doug Ducey is hosting Republican governors from around the country in Phoenix this week for the Republican Governors Association’s annual conference. “I’m honored to host my fellow Republican governors in our beautiful state to discuss our policy priorities for the upcoming year,” said Governor Ducey. “This conference provides an opportunity to discuss a range of issues with my colleagues from all across the country and highlight Arizona’s roaring economy, historic tax reform and efforts to secure our border. My thanks go out to the entire team at the RGA for their work to organize this event and support Republican governors in our mission to improve our states.” The annual conference brings together more than 20 Republican governors and Virginia Governor-elect Glenn Youngkin. Former Vice President Mike Pence, who served as the 50th governor of Indiana, spoke to attendees last night. Governor Ducey currently serves as Chairman of the Republican Governors Association (RGA). He was elected by his peers to serve a second term as co-Chairman with Nebraska Governor Pete Ricketts. He is the first governor to serve consecutive terms as Chairman since Ronald Reagan in 1968 and 1969. As part of the conference, Governor Ducey is participating in several roundtable discussions about topics of national interest, including the ways Republican governors are responding to the border crisis and bolstering their states' economies.

SPECIAL PUBLIC HEARING : City of Mesa Planning & Zoning Board Wed 11.17.2021. . .All Jammed-Up

STUDY SESSION

Meeting Name:

Planning and Zoning Board - Study Session

Agenda status:

Final

Meeting date/time:

11/17/2021 3:00 PM

Minutes status:

Draft

Meeting location:

Lower Council Chambers Special Meeting Date

Published agenda:

Agenda

____________________________________________________________________________________________

Planning and Zoning Board - Study Session City of Mesa

Meeting Agenda - Final 

Mesa Council Chambers 57 East First Street 

Chair Jessica Sarkissian 

Vice Chair Deanna Villanueva-Saucedo 

Boardmembers Tim Boyle, Shelly Allen,  Jeffrey Crockett, Benjamin Ayers,  Troy Peterson 

 

Wednesday, November 17, 2021 

3:00 PM Lower Council Chambers 

Special Meeting Date 

1 Call meeting to order

2 Review items on the agenda for the November 17, 2021 regular Planning and Zoning Board Hearing 

3

4

5 Planning Director's Updates. • Decisions of the City Council’s November 1 and November 15, 2021 land use hearings

6 Adjournment

 

Planning & Zoning Public Hearing 

The Planning and Zoning Board meetings operate on a hybrid system. 

Public participation is available using either blue comment cards found in the City Council chambers or by submitting an online comment card and participating through Zoom. 

We believe that providing access for citizens to communicate with the board is vital for a strong representative local government. 

All Planning and Zoning Board meetings are open to the public to Public Hearing 

The meetings may also be watched on local cable Mesa channel 11, online at Mesa11.com/live or https://mesa11.zoom.us/j/5301232921 

or listened to by calling 888-788-0099 or 877-853-5247 (toll free) using meeting ID 530 123 2921 and following the prompts. 

Members of the public can address the Planning and Zoning Board in the following ways: 

• Attend a meeting in person. 

Participants may complete a blue comment upon arrival at the meeting, or download a copy of comment card [PDF] and hand in at the meeting. 

• Submit an online comment card at least 1 hour prior to the start of the meeting.

 If you want to speak at the meeting, you will need to indicate on the comment card that you would like to speak during the meeting, 

and you will need to call 888-788-0099 or 877-853-5247 (toll free) using meeting ID 5301232921 and following the prompts, prior to the start of the meeting. 

You will be able to listen to the meeting; and when the item you have indicated that you want to speak on is before the board, your line will be taken off mute and you will be given an opportunity to speak. 

For any difficulty accessing this meeting, please call 480-644-2099

______________________________________________________________________________________________________________________________________________________________________

Planning and Zoning Board - Public Hearing City of Mesa

Meeting Agenda - Final 

Council Chambers 57 E. First Street  

Wednesday, November 17, 2021 4:00 PM 

Council Chambers Special Meeting Date 

Consent Agenda - All items listed with an asterisk (*) will be considered as a group by the Board and will be enacted with one motion. 

There will be no separate discussion of these items unless a Boardmember or citizen requests, in which the item will be removed from the consent agenda, prior to the vote, and considered as a separate item. 

Items on this agenda that must be adopted by ordinance and/or resolution will be on a future City Council agenda. 

Anyone interested in attending the City Council public hearing should call the Planning Division at (480) 644-2385 or review the City Council agendas on the City's website at www.mesaaz.gov to find the agenda on which the item(s) will be placed. 

 

Call meeting to order. 

1 Take action on all consent agenda items 

Items on the Consent Agenda 

 

2 Approval of minutes from previous meetings. 

*2-a PZ 21135 Minutes from the October 27, 2021 study session and regular meeting. 

File #:

PZ 21135

Type:

PZ Minutes

Status:

Agenda Ready

In control:

Planning and Zoning Board - Public Hearing

On agenda:

11/17/2021

Title:

Minutes from the October 27, 2021 study session and regular meeting.

Attachments:

1. October 27, 2021 P&Z Study Session Minutes, 2. October 27, 2021 P&Z Minutes

City of Mesa Page 1 Printed on 11/10/2021 Planning and Zoning Board - Public November 17, 2021 Hearing Meeting Agenda - Final 

3 Take action on the following zoning cases: (4)

PZ 21136 ZON21-00467 District 6. Within the 3300 block of South Sossaman (east side). Located North of Elliot Road on the east side of Sossaman Road. 

(24.3± acres). 

Site Plan Review. This request will allow for an industrial development. 

• Robert Ward, ADW Architects, applicant; 
  
• Charles Stewart, SJJ Land Investments, LLC, owners. 
  

(Companion case to Preliminary Plat, “Sossaman Business Campus”, associated with item *5-a). 

Planner: Sean Pesek 

Staff Recommendation: Continue to December 15, 2021 *3-a 

PZ 21137 ZON21-00734 District 6. 

Within the 3700 block of South Power Road (east side). Located south of Elliot Road on the east side of Power Road. 

(0.7± acres). 

Site Plan Review; and Special Use Permit. This request will allow for a retail building with a drive-thru. 

• Mitch Korrub, Just Love Coffee, applicant; 
  
• PEK Trust, owner. 
  

Planner: Josh Grandlienard 

Staff Recommendation: Approval with conditions *3-b 

PZ 21138 ZON21-00794 District 6. 

Within the 5300 block of South Ellsworth Road (east side) and within the 9200 block of East Cadence Parkway (south side). Located south of Ray Road on the east side of Ellsworth Road. 

(0.7± acres). 

Major Modification to an Approved Site Plan. This request will allow for a retail development. 

• Susan Demmit, Gammage and Burnham PLC, applicant; 
  
• PPGN-Ellsworth LLLP, owner. 
  

Planner: Josh Grandlienard 

Staff Recommendation: Approval with conditions *3-c 

PZ 21139 ZON21-00811 District 5. 

Within the 2800 block of North 58th Circle (east side) and within the 5800 block of East McDowell Road (north side). Located west of Recker Road on the north side of McDowell Road. 

(6.5± acres). 

Site Plan Review. 

This request will allow for an industrial office development. 

McCall and Associate Architects, applicant; BMD Ventures, LLC, owner. 

Planner: Chloe Durfee-Sherman 

Staff Recommendation: Approval with conditions *3-d 

City of Mesa Page 2 Printed on 11/10/2021 Planning and Zoning Board - Public November 17, 2021 Hearing Meeting Agenda - Final 

4 Discuss and make a recommendation to the City Council on the following zoning cases: (5)

PZ 21140 ZON21-00291 District 1. 

Within the 1800 block of East McKellips Road (north side). Located west of Gilbert Road on the north side of McKellips Road. 

(5.2± acres). 

Rezone from Agricultural (AG) and Limited Commercial (LC) to Small Lot Single Residence 3.0 with a Planned Area Development overlay (RSL-3.0-PAD). 

This request will allow for a small-lot single residence development. 

• Sean Lake, Pew & Lake, PLC, applicant; 
  
• Orange Tree Marketplace II, LLC, owner. 
  

(Companion case to Preliminary Plat, “Gilbert& McKellips” (ZON21-00502), associated with item *5-b). 

Planner: Cassidy Welch 

Staff Recommendation: Approval with conditions *4-a 

PZ 21141 ZON21-00746 District 6. 

Within the 6800 to 7100 blocks of East Elliot Road (north side). 

Located east of Power Road on the north side of Elliot Road. 

(26.3± acres). 

Rezone from Single Residence 43 (RS-43) to Light Industrial with a Planned Area Development overlay (LI-PAD); and Site Plan Review. 

This request will allow for an industrial development. 

• Adam Baugh, Withey Morris, PLC, applicant; 
  
• Garvin Holdings, LLC, owner. 
  

Planner: Cassidy Welch 

Staff Recommendation: Approval with conditions *4-b 

PZ 21142 ZON21-00796 District 2. 

Within the 4100 block of East Valley Auto Drive (north side). 

Located west of Greenfield Road and north of Baseline Road. (

5.8± acres). 

Major Modification to an Approved Site Plan. This request will allow for an industrial development. 

Chase Woosley with Cotton Architecture + Design, applicant; 

Inland Kenworth Inc., owner. 

Planner: Chloe Durfee-Sherman 

Staff Recommendation: Approval with conditions *4-c 

City of Mesa Page 3 Printed on 11/10/2021 Planning and Zoning Board - Public November 17, 2021 Hearing Meeting Agenda - Final 

PZ 21143 ZON21-00798 District 6. 

Within the 4200 to 4400 blocks of South Sossaman Road (west side). 

Located west of Sossaman Road and north of the Warner Road alignment. 

(101.1± acres). 

Rezone from Agriculture (AG) to Light Industrial with a Planned Area Development overlay (LI-PAD) and Site Plan Review. 

This request will allow for an industrial development. 

Sean Lake on behalf of Pew & Lake PLC, applicant; 

The Dale C. Morrison Trust, owner. 

(Companion case to Preliminary Plat, “The Hub at 202”, associated with item *5-c).

 Planner: Josh Grandlienard 

Staff Recommendation: Approval with conditions *4-d 

5 Discuss and take action on the following preliminary plats: 

PZ 21144 “Sossaman Business Campus”, District 6. 

Within the 3300 block of South Sossaman (east side). Located North of Elliot Road on the east side of Sossaman Road. 

(24.3± acres). Preliminary Plat. 

Robert Ward, ADW Architects, applicant; 

Charles Stewart, SJJ Land Investments, LLC, owners. 

(Companion case ZON21-00467, associated with item *3-a). 

Planner: Sean Pesek 

Staff Recommendation: Approval with conditions *5-a 

File #:

PZ 21144

Type:

PZ Preliminary Plat

Status:

Agenda Ready

In control:

Planning and Zoning Board - Public Hearing

On agenda:

11/17/2021

Title:

“Sossaman Business Campus”, District 6. Within the 3300 block of South Sossaman (east side). Located North of Elliot Road on the east side of Sossaman Road. (24.3± acres). Preliminary Plat. Robert Ward, ADW Architects, applicant; Charles Stewart, SJJ Land Investments, LLC, owners. (Companion case ZON21-00467, associated with item *3-a). Planner: Sean Pesek Staff Recommendation: Continue to December 15, 2021

PZ 21145 “Gilbert & McKellips” District 1. (ZON21-00502) 

Within the 1800 block of East McKellips Road (north side). 

Located west of Gilbert Road on the north side of McKellips Road. 

(5.2± acres). Preliminary Plat. 

Sean Lake, Pew & Lake, PLC, applicant; 

Orange Tree Marketplace II, LLC, owner. 

(Companion case to ZON21-00291, associated with item *4-a). 

Planner: Cassidy Welch Staff Recommendation: Approval with conditions *5-b 

File #:

PZ 21145

Type:

PZ Preliminary Plat

Status:

Agenda Ready

In control:

Planning and Zoning Board - Public Hearing

On agenda:

11/17/2021

Title:

“Gilbert & McKellips” District 1. (ZON21-00502) Within the 1800 block of East McKellips Road (north side). Located west of Gilbert Road on the north side of McKellips Road. (5.2± acres). Preliminary Plat.  Sean Lake, Pew & Lake, PLC, applicant; Orange Tree Marketplace II, LLC, owner. (Companion case to ZON21-00291, associated with item *4-a). Planner: Cassidy Welch Staff Recommendation: Approval with conditions

Attachments:

1. Vicinity Map, 2. Staff Report, 3. Narrative, 4. Preliminary Plat, 5. Presentation

• History (0)
• Text

PZ 21146 “The Hub at 202”, District 6. 

Within the 4200 to 4400 blocks of South Sossaman Road (west side). Located west of Sossaman Road and north of the Warner Road alignment. 

(101.1± acres). Preliminary Plat. 

Sean Lake on behalf of Pew & Lake PLC, applicant; The Dale C. Morrison Trust, owner. 

(Companion case to ZON21-00798, associated with item *4-d). 

Planner: Josh Grandlienard 

Staff Recommendation: Approval with conditions *5-c 

File #:

PZ 21146

Type:

PZ Preliminary Plat

Status:

Agenda Ready

In control:

Planning and Zoning Board - Public Hearing

On agenda:

11/17/2021

Title:

“The Hub at 202”, District 6. Within the 4200 to 4400 blocks of South Sossaman Road (west side). Located west of Sossaman Road and north of the Warner Road alignment. (101.1± acres). Preliminary Plat. Sean Lake on behalf of Pew & Lake PLC, applicant; The Dale C. Morrison Trust, owner. (Companion case to ZON21-00798, associated with item *4-d). Planner: Josh Grandlienard Staff Recommendation: Approval with conditions

Attachments:

1. Vicinity Map, 2. Staff Report, 3. Narrative, 4. Preliminary Plat, 5. Presentation

City of Mesa Page 4 Printed on 11/10/2021 Planning and Zoning Board - Public November 17, 2021 Hearing Meeting Agenda - Final 

PZ 21147 “Elliot 202” District 6. (ZON21-00700). 

Within the 8800 to 9100 blocks of East Elliot Road (north side) and within the 8900 to 9100 blocks of East Peterson Avenue (south side) 

Located west of Ellsworth Road on the north side of Elliot Road 

41± acres). 

Preliminary Plat. 

• Russell Schulte, Hunter Engineering, applicant; 
  
• EL DORADO ELLIOT 128, LLC, owner. 
  

Planner: Cassidy Welch Staff Recommendation: Approval with conditions *5-d 

File #:

PZ 21147

Type:

PZ Preliminary Plat

Status:

Agenda Ready

In control:

Planning and Zoning Board - Public Hearing

On agenda:

11/17/2021

Title:

“Elliot 202” District 6. (ZON21-00700). Within the 8800 to 9100 blocks of East Elliot Road (north side) and within the 8900 to 9100 blocks of East Peterson Avenue (south side) Located west of Ellsworth Road on the north side of Elliot Road (41± acres). Preliminary Plat.  Russell Schulte, Hunter Engineering, applicant; EL DORADO ELLIOT 128, LLC, owner.   Planner: Cassidy Welch Staff Recommendation: Approval with conditions

Attachments:

1. Vicinity Map, 2. Staff Report, 3. Narrative, 4. Preliminary Plat, 5. Presentation

PZ 21148 “Sossaman 202 Industrial Park” District 6. (ZON21-00891). 

Within the 7300 to 7600 blocks of the East Warner Road alignment (south side) and within the 4400 to 4800 blocks of the South Sossaman Road alignment (west side). 

Located west of the Sossaman Road alignment and south of the Warner Road alignment. 

(112± acres). 

Preliminary Plat. 

• Jon Gillespie, Pew & Lake, PLC, applicant; 
  
• Structures Investment, LLC, owner. 
  

 Planner: Cassidy Welch Staff Recommendation: Approval with conditions *5-e 

File #:

PZ 21148

Type:

PZ Preliminary Plat

Status:

Agenda Ready

In control:

Planning and Zoning Board - Public Hearing

On agenda:

11/17/2021

Title:

“Sossaman 202 Industrial Park” District 6. (ZON21-00891). Within the 7300 to 7600 blocks of the East Warner Road alignment (south side) and within the 4400 to 4800 blocks of the South Sossaman Road alignment (west side). Located west of the Sossaman Road alignment and south of the Warner Road alignment. (112± acres). Preliminary Plat. Jon Gillespie, Pew & Lake, PLC, applicant;  Structures Investment, LLC, owner. Planner: Cassidy Welch Staff Recommendation: Approval with conditions

Attachments:

1. Vicinity Map, 2. Staff Report, 3. Narrative, 4. Preliminary Plat, 5. Presentation

Items not on the Consent Agenda 

6 Adjournment.

____________________________________________________________________________________________

Board of Supervisors Meeting 11-17-21

Convening The Community: Part 1