THELOGICALINDIAN - The perpetrator fabricated off with 800 ETH and blocked the aisle with Tornado Cash
A activity alleged MetaDAO has fabricated off with almost 800 ETH, or $3.2 million, in an credible rug cull betray perpetrated over the anniversary weekend.
Holiday Crypto Heist
Just advanced of New Year’s Eve, investors in a activity alleged MetaDAO accept begin themselves victim of a $3.2 actor rug cull scam.
Early this morning, PeckShield, a blockchain aegis company, issued an alert that MetaDAO had fabricated off with 800 ETH, account over $3.2 actor at columnist time, in an credible rug cull scam. MetaDAO again transferred the baseborn funds to Tornado Cash, a aloofness agreement that allows users to adumbrate their Ethereum affairs and that apparently allows for greater anonymity.
A “rug pull” is a accepted blazon of betray aural crypto markets in which a project’s developers advance abundant buy-in from investors afore abandoning the activity altogether and ultimately keeping—some would say “stealing”—the funds.
MetaDAO’s website is currently bare per a suspension.
A Dec. Medium page by MetaDAO calls the activity “the DAO of DAOs” and claimed MetaDAO would “build a new universe.” One commodity goes on to altercate the adventure abaft the project’s inception, citation WallStreetBets fable Keith Gill and the GameStop abbreviate clasp that occurred beforehand this year as the afflatus abaft the project.
Rug pulls in the crypto amplitude about annual for beneath money absent to scammers than hacks, but they still action with somewhat adverse frequency. Only aftermost night, PeckShield reported addition accessible rug cull accident in which 1,100 BNB (worth over $600,000 at columnist time) were baseborn by MetaSwapMGAS. As was the case with today’s MetaDAO rug pull, the baseborn funds in the MetaSwapMGAS betray were beatific to Tornado Cash, abashing their consecutive locations.
Another such betray that afresh created a severe stir came aftermost ages back the Binance Smart Chain activity SQUID token—which was declared to be based on the hit Netflix alternation Squid Game—crashed afterwards buyers bent on that the badge was not affiliated with the show. The badge anon comatose by 99.99%, but not afore the team abaft the activity fabricated out with about $12 million.
Disclosure: At the time of writing, the columnist of this allotment endemic ETH and several added cryptocurrencies.
