Cryptocurrency Banditry: AnubisDAO Heist Resurfaces, Highlighting Investor Woes
Crypto Thieves Mobilize Stolen Ethereum Amidst Lingering Investigation, Geist Finance Closes Operations
In October 2021, a daring act of cryptocurrency banditry unfolded. AnubisDAO, a decentralized finance (DeFi) mission impressed by Dogecoin, deceived crypto traders into funding their enterprise with a staggering 13,556 Ether (ETH). Nevertheless, a mere 20 hours later, the funds vanished into an untraceable digital abyss, leaving traders in a state of confusion and betrayal.
Practically two years later, in mid-July 2023, the crypto thieves made their transfer. The stolen Ethereum treasure was mobilized utilizing Twister Money, a protocol that gives transaction anonymity. By dividing the stolen ETH into batches of 100, the bandits cleverly evaded detection.
PeckShield, blockchain sleuths who had been monitoring the scenario because the preliminary heist when the stolen quantity was valued at round $60 million, have been unable to get better the funds. Sadly, the worth of the stolen funds has now deflated to roughly $26.2 million, amplifying the distress of the traders. Whereas they maintain on to a glimmer of hope for a possible refund throughout a market rebound, their vanished funds appear destined for obscurity.
This debacle serves as a stark reminder for traders to train warning. Thorough analysis concerning the mission and people concerned is essential earlier than diving into any funding.
Along with the AnubisDAO heist, Geist Finance, a lending protocol, fell sufferer to associated technical problems. Non-Multichain coin holders, reminiscent of Magic Web Cash (MIM) or Fantom (FTM), confronted the opportunity of accumulating unhealthy debt. Mixed with losses from the Multichain exploit, this compelled Geist to completely shut its operations. The corporate’s current assertion confirms this resolution, leaving customers with no hope of resumption.
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