Crypto markets bleed as AnubisDAO’s $5.5 million worth of stolen Ethereum (ETH) on the move
- Anubis DAO rugger has transferred 3,000 ETH worth $5.5 million into Tornado Cash.
- As a result of the latest movement in funds, altcoins are bleeding, with some tokens facing losses in double digits.
- Bitcoin and Ethereum are holding relatively steady, which can be attributed to the weekend’s low volatility.
Roughly 3,000 Ethereum (ETH) worth $5.5 million at current market prices were moved to a popular mixer - Tornado Cash.
AnubisDAO rugged investors’ money to the tune of $60 million in late October 2021. The supposed canine-themed crypto was to ride the success of Dogecoin and other dog-themed cryptocurrencies and was also touted as a fork of OlypumsDAO. However, investors were in disbelief when their money was moved to a different address.
Rugging or rug pull is a scam in which bad actors lure investors with promises of the next big project and get away with their money.
AnubisDAO Ethereum is on the move
AnubisDAO rugged its investors millions of dollars in October 2021, and the early participants are still not made whole. But the attacker moved 3000 ETH to Tornado Cash, which is a mixer used by participants to hide their money trail from on-chain sleuths.
The tool seems to be more popular with bad actors, who often use it to wash their stolen digital tokens.
PeckShield, a popular blockchain security and data analytics company, noted the movement of 3,000 stolen ETH on April 9.
#PeckShieldAlert #AnubisDAO Liquidity Rug 3 has transferred 3,000 $WETH (~$5.6M) to 0x0D19...bbb https://t.co/0EQGc0PUGm pic.twitter.com/oJuDaqj7E9
— PeckShieldAlert (@PeckShieldAlert) April 8, 2023
According to Arkham Intel, the wallet of the AnubidDAO rugger still holds 7,000 ETH worth $13 million.
gm
— Arkham (@ArkhamIntel) April 8, 2023
This morning, the wallet containing funds stolen from the @AnubisDAO token launch transferred 3K ETH to a dedicated Tornado Cash Wallet.
In total, the Anubis DAO rugger has now tornado'd 6.5K ETH, or over $12M at current prices.
The wallet still holds 7K ETH, worth ~$13M. pic.twitter.com/jIyjUjnoMJ
Author
Akash Girimath
FXStreet
Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.
