AnubisDAO Goes Back to The Underworld with $60M in One Day

Briefly:

• AnubisDAO investors lost $60M right when they thought that they found the next Dogecoin.
• People are calling it an inside job by one developer.
• The primary suspect had filed a police report and 1k Ethereum is put out as a bounty to find the person who did it.

As investors rushed millions of dollars into the Anubis token (ANKH), assuming they found the next Dogecoin, all lost it in an alleged rug pull. AnubisDAO raised around 13,256.4 Ether (ETH) using AlchemistCoin’s liquidity bootstrapping protocol (LBP), Copper.

Investors claim that the AnubisDAO project has disappeared with roughly a total of $60M in ETH. Even though AnubisDAO didn’t even have an official website, still many investors hurried to pour $60M in the initial token sale for ANKH tokens.

The liquidity pool was transmitted to a different address, just 20 hours after the sale of Copper. Then seconds after the transactions, all the ETH was sent to a third wallet. Currently, the third wallet holds approximately $60 million worth of ETH at the time of writing.

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However, Beerus, the one in charge of LBP, claimed that he received a malicious link embedded in a PDF file via email. The sender acted as Sisyphus, one of the establishing members.

Beerus’ Twitter account was deleted after the rug-pull.

However, Beerus tweeted using another account, @cryptofan777, and said, “I am cooperating with the police and complying with all investigations right now. The claims and posts across Chinese and Hong Kong forums are not true – I did not ghost Sisyphus and the team and I was not the only one with access to the funds – I did not volunteer to handle ½”.

Although people are calling it an inside job, Sisyphus has also put a bounty of 1k ETH to find the person responsible for the rug-pulling.

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Copper has also clearly stated that the breach has nothing to do with them saying, “Neither the Copper platform nor Balancer’s smart contracts have been breached or compromised”.

One of the investors, Brian Nguyen told CNBC that he lost $470,000. He confessed that the canine image used to sell the project drew him in because it reminded him of the recent meme currency heroes like Dogecoin and Shiba Inu. Brian Nguyen told the media that he woke up on Friday to discover that the project was gone. “It was pretty painful,” he said.

Brian Nguyen also admitted that he didn’t do any research about the token before purchasing it. He replied, “We, in crypto, tend to have a ‘buy first, do research later,’ mentality”.

The reason that AnubisDAO was marketing on an authorized platform, Copper, gave him confidence.