Wonderland (TIME)
An Avalanche OlympusDAO-style 'reserve currency' protocol whose TIME token crashed after on-chain investigator ZachXBT revealed (Jan 2022) that its pseudonymous treasury manager '0xSifu' was Michael Patryn — a convicted felon and co-founder of the collapsed QuadrigaCX exchange.
Also known as: Wonderland, TIME, 0xSifu, Michael Patryn, Omar Dhanani, Daniele Sestagalli
Note: This entry documents a governance/disclosure controversy. Michael Patryn's prior convictions and QuadrigaCX role are matters of public record; the Wonderland episode itself produced no criminal charges.
Summary
Wonderland was an Avalanche-based, OlympusDAO-style "reserve currency" protocol with the native token TIME. In January 2022, on-chain investigator ZachXBT revealed that Wonderland's pseudonymous treasury manager, "0xSifu," was Michael Patryn — co-founder of the collapsed Canadian exchange QuadrigaCX and a convicted felon previously known as Omar Dhanani. [1][3]
Fallout
TIME, which had peaked around $10,000 in November 2021, fell sharply (to an all-time low reported around $335). Co-founder Daniele Sestagalli said he had known Patryn's identity and history beforehand. After a DAO vote, roughly 88% of participating TIME holders supported removing Patryn as treasury manager, and the project then weighed winding down. [1][2][3]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (3)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.