Breaking: MakerDAO Co-Founder Nicolai Muchgian Dies At 29

29-year old MakerDAO co-founder Nicolai Muchgian dies by drowning on a beach in Puerto Rico. The crypto community offers condolences.
By Varinder Singh
November 1, 2022
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Nicolai Muchgian, coder and co-founder of MakerDAO, was found dead on the beach behind Ashford Hospital in Condado, Puerto Rico. The crypto community offers condolences on the death of the 29-year old coder who worked on several projects including Ethereum, MakerDAO, BitShares, and DAI fork Rai by Reflexer Labs.

Crypto Community Remembers Nicolai Muchgian

Coder Nicolai Muchgian was worried that the CIA and Mossad were after him for some reason. Also, Nicolai Muchgian believed his girlfriend was a spy who planted a laptop so that he can be framed for criminal allegations.

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In his last tweet on October 28, he said:

“CIA and Mossad and pedo elite are running some kind of sex trafficking entrapment blackmail ring out of Puerto Rico and caribbean islands. They are going to frame me with a laptop planted by my ex gf who was a spy. They will torture me to death.”

Cardano founder Charles Hoskinson in a tweet remembers knowing Nicolai Muchgian while he was working on BitShares. He says Nicolai had a wide array of interests including game theory, Urbit, and blockchain technologies.

Nikolai was one of the people in the early days of Ethereum and smart contracts. He was able to predict the possibility of smart contract hacks and invented the security-oriented approach to smart contract design. Moreover, the crypto community shares his contributions to blockchain and the crypto industry.

MakerDAO Custody Deal With Coinbase

Recently, the MakerDAO community approved a proposal to keep $1.6 billion USDC in Coinbase‘s custody platform Coinbase Prime. It will also allow the community to earn 1.5% rewards on the funds.

MakerDAO will freely mint, burn, withdraw, and settle in USDC instantaneously. Moreover, Coinbase and MakerDAO to automate transactions between Peg Stability Module (PSM) and the Prime custody account through smart contract or API.

Nicolai Muchgian continued working on DeFi and making platforms more censorship-resistant. Maker (MKR) price is trading at $896.44, down over 1% in the last 24 hours.

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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