's 13.5K ETH Rug Pull Money Washes Away on Tornado Cash.
AnubisDAO’s 13.5K ETH rug pull money washes away on Tornado Cash

AnubisDAO’s $60 Million Ether Heist and Tornado Cash

In October 2021, the crypto world was rocked by a heist of 13,556 Ether (ETH) from the dog-inspired decentralized finance (DeFi) project, AnubisDAO. The funds, valued at nearly $60 million at the time, were raised from investors looking to capitalize on the Dogecoin (DOGE) trend. However, only 20 hours into the investment, the funds were sent to a different address, resulting in an instant loss.

Two years later, the stolen funds were moved via Tornado Cash, a decentralized protocol that enables private transactions. The 13,556 ETH, now worth almost $26.2 million, were divided into 100 ETH transactions over the course of July 15 and 16. Blockchain investigator PeckShield was the first to alert the public to the exploit.

Impact of Multichain Exploit on Geist Finance

Investors who lost their funds due to the Multichain exploit have been left with little hope of recovering them. Despite this, some remain optimistic that the bear market might eventually recover enough to provide a refund. However, investors are still encouraged to conduct thorough research into a project and its founders before investing.

The losses incurred from the exploit led to Geist Finance ceasing operations permanently. A recent post confirms that the team has no plans to re-enable lending and borrowing on Geist.

A related technical issue makes it impossible for Geist Finance to revive lending, as doing so would result in bad debt for holders of non-Multichain coins such as Magic Internet Money (MIM) or Fantom (FTM).

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