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AnubisDAOโ€™s 13.5K ETH rug pull money washes away on Tornado Cash

July 17, 2023No Comments

Almost two years after the canine inspiration decentralized finance (DeFi) The project, AnubisDAO, was dumped for nearly $60 million worth of Ether (ETH), the stolen funds were diverted using Tornado Cash.

In October 2021, AnubisDAO raised 13,556 ETH from crypto investors due to the former Dogecoin (DOGE) trend. However, approximately 20 hours after the investment, the funds were sent to a different address, resulting in an instant loss for investors.

Between July 15 and 16, the illicit funds moved through Tornado Cash, a decentralized protocol that allows for private transactions. The person in possession of the 13,556 ETH divided and moved the funds through 100 ETH per transaction, as shown in the screenshot below.

A snippet of AnubisDAO's rug mining fund transaction history. Source: etherscan.io

The information was presented by blockchain researcher PeckShield, when 13,556 ETH was worth approximately $60 million. After almost two years, the stolen funds amounted to almost 26.2 million at the time of writing this report.

As misled investors see their funds drift toward the abyss, some remain bullish on a highly unlikely scenario of getting a refund once the bear market picks up. As a result, investors are advised to thoroughly research a project and its founders before making any investment.

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losses of the multichain exploit forced lending protocol Geist Finance to shut down permanently. The latest post confirms that the team does not plan to reopen loans and loans in Geist.

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