2.0 stETH Volume in swaps

The table below showw the Volume of stETH being used as asset to swap for other assets. There is one specific address that exited their stETH with 57 B stETH in total. This will be addressed later. The rest of the table lists the address that has had used stETH for swaps.

3.0 Swap Out Pattern

The table below shows the txns where large amount of stETH are being swapped for WETH by that specific user. The address has made swaps with large amount of stETH in the span of only 8 transactions. The least being almost 800 M stETH and the largest is at 4.1 B stETH. No other address has made such large transactions with stETH in this short time frame. The following chart plot the transactions over time

4.0 Where did it go?

All the stETH were directed to 0x7a25, which is Uniswap V2 Router, all were directed by to the user as WETH

5.0 Suspicious Liquidity Pairs added

The below table shows the transaction of aid address that has made Add_liquidity transactions, prior withdrawing large amount of WETH via swap.

When , reffered to Etherscan, it says the address addedd 700 B stETH and 33 ETH into the liquidty pool.

This is odd, becuse stETH is supposed to be 1:1 rate with ETH, so 700 B stETH vs 33 ETH is not realistic. It is possible this stETH, is actually a fraud stETH, as in not being Lido stETH, but generated by other people/entity. This can be checked by comparing the contract address of this stETH, and Lido`s stETH

6.0 Token Contract Address

This section will study wether the stETH contract address is related to Lidos. We can see that the token we are studying is actually stETH INU, instead of Lido`s token. This problem arises as both asset has the same ticker, stETH.