Inside Azeem Ahmed's Playbook: Tracking the Money Trail
While Azeem Ahmed might lie, the blockchain does not, that's the beauty of it.
Our investigation follows the money trail that exposes the systematic exploitation of USDM investors.
The OXAI Connection
Transaction evidence reveals Azeem Ahmed diverted approximately 1,400 ETH to fund OXAI through four separate transactions of 300+ ETH each to Bitfinex. This ETH originated from the MOCHI-ETH pool, using borrowed DAI from the USDM Curve pool.
CVX Token Manipulation
- 1M CVX tokens locked
- Monthly reward extraction
- 5% management fee
- 20% performance fee (attempted 50%)
- Blocked reward distributions through GaiaDAO platform
The Missing Airdrops
Azeem Ahmed has withheld multiple airdrops including.
- PRISMA tokens never distributed
- Rewards stuck in controlled wallets
- No communication about distribution plans
- Failed claim functionality on GaiaDAO.com
Fee Structure Evolution
Timeline of fee manipulation:
Initial structure:
5% management fee
20% performance fee
Stealth increase:
5% management fee
50% performance fee
After exposure:
Reverted to original rates
Continued collection despite protests
Blockchain Evidence
USDM to OXAI transfers via Bitfinex:
- 0x3edbaa512eb7534c1280ae9d41c8140838e2008d12486d5f8f08c8637250a897
- 0x1015cd849729168a6b5ebd42f498fe4a7556b2cf0c10659a5b5ced86790af7ac
- 0x4891e62a1c1565aef63c27f4b9ab3dc0927dec0ceabe8a739feedd04e3634b6f
- 0x953bdf9ed18829913c77dba8f12518976b04ab802a2ca24e1ec2b8998e7c1890
These transactions show the movement of approximately 1400 ETH originally used to seed the MOCHI-ETH pool using borrowed DAI from the USDM Curve pool.
Impact on Investors
Documented losses:
- $11M trapped (single wallet)
- 80% withdrawal slippage
- Locked rewards
- Ongoing fee drain
Recovery Obstacles
Current challenges:
- Jurisdictional barriers
- Smart contract limitations
- Protocol governance constraints
- Asset tracing complexity
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