Ethereum

Railgun

Base

Tornado Cash

Tornado

The Ethereum TrustFund DAO, a decentralized autonomous organization (DAO) operating on the Base network, has been said to have engaged in a $2 million rug pull, which is a premeditated exit <a href="https://optimisus.com/news/crypto-news/shiba-inu-team-addresses-the-wazirx-hack-where-trillions-of-shib-were-stolen/" rel="noopener noreferrer nofollow">scam</a>.  
On July 20, 2024, the project relocated all of its financial resources to a new wallet. The transfer was executed using mixer software such as Tornado Cash and Railgun.  
ETHTrustFund, inspired by successful initiatives like Olympus and Wonderland, first enticed investors with its distinctive rebase process, which sought to devalue its tokens to enhance the worth of the remaining supply.  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/PeckShieldAlert/status/1815275372818428332
 </div>
</figure>  
Nevertheless, the project's course drastically changed when the main developer, Peng, stopped interacting with the community in April. Octoshi announced that the project had transferred more than $2 million from its financial reserves to a new wallet and was depleting the money through the Railgun Project.  
The project's official Telegram and social media accounts have been eradicated. Octoshi encouraged the community to report the scam on Chainabuse, a platform specifically designed to record and counteract fraudulent activity in the cryptocurrency industry.  
This occurrence is part of a sequence of comparable fraudulent activities in the cryptocurrency sector, including the Gemholic Protocol's $3.5 million exit scam in June and the Ordiz Bridge admin accounts' $1.4 million fraud in March. 
The post <a href="https://optimisus.com/news/crypto-news/ethtrustfund-dao-allegedly-stole-2-million-and-laundered-funds/" rel="noopener noreferrer nofollow">ETHTrustFund DAO allegedly stole $2 million and laundered funds</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

ETHTrustFund DAO allegedly stole $2 million and laundered funds

Optimisus

Andre artikler udgivet 23. jul. 2024

MoonBag Offers 500% ROI: Is Beam's 25% Jump Just a Drop in the Ocean?

Analyst Predicts SOL and AVAX Trends

Cat In A Dogs World Price Prediction: MEW Pumps 4% As This DOGE 2.0 Rival Hurtles Past $5.8 Milli...

After Bittensor's $8M Hack, Investors Flock to MoonBag's Transparent and Lucrative Ecosystem

Bitwise Bitcoin ETF Is Now In The Portfolio Of 20% Of Wealth Management Branches Of A US Bank

Hong Kong Launches Asia's First Inverse Bitcoin ETF: Report

Join our free newsletter for daily crypto updates!