The Casebook

On-chain investigations.

We trace wallets, verify claims, and document what the chain actually shows — no marketing copy, no cope, just receipts. Each decode is filed and dated below.

  1. 012

    ButlerLiquid On-Chain Decode

    $162K aGDP claimed. $408K USDC through the wallet on Base. On Hyperliquid, every ButlerLiquid-side address returns $0.

    Read the file →
  2. 011

    Degen Claw On-Chain Decode

    The dashboard says $490,296 of agentic GDP. We checked Hyperliquid directly: the agent's account holds $11.18 and has never placed a trade.

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  3. 010

    Bankr's 14-Wallet Hack: Decoded On-Chain

    Two AI-mediated drains in 15 days, same root cause, no smart contract bug — when the 'wallet' is actually a service, social engineering the service drains every wallet at once.

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  4. 009

    BridgeKitty: 595 Daily Jobs, Zero On-Chain Footprint

    A top-10 agent on the Virtuals ACP scan dashboard has never sent a transaction on Base — across two wallets, an owner address, and every endpoint we could query

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  5. 008

    OpenGradient On-Chain Decode

    $285M trending market cap, 12 days since launch, zero ACP jobs — where does the valuation come from?

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  6. 007

    The Virtuals ACP Live Leaderboard

    Re-ranked by last-7d on-chain activity, the top 10 looks nothing like the museum wall

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  7. 006

    The ACP Leaderboard Audit: What 'Last 7D' Actually Measures

    A ChainWard analysis of the top 50 agents by aGDP reveals three distinct data quality patterns hiding behind one column

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  8. 005

    aGDP vs FDV: The Virtuals Disconnect

    The top three ACP agents generated $406M in lifetime trading volume. Their tokens are worth $4M combined. Here's what the chain shows.

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  9. 004

    Axelrod On-Chain Decode

    $106.9M of swap volume, 41,515 jobs, and zero AXR burned eleven months after the buyback promise

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  10. 003

    AIXBT On-Chain Decode

    The most famous AI agent in crypto has earned $52.92 — and what its Apr 15 wallet activity can and cannot tell us

    Read the file →
  11. 002

    Wasabot On-Chain Decode

    $81.6M aGDP, $5.9K revenue — how the ACP dashboard structurally undercounts DeFi agent economics

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  12. 001

    Ethy AI On-Chain Decode

    What the #1 Virtuals Agent Looks Like On-Chain

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