AnubisDAO Stolen Funds Laundered through Tornado Cash
– AnubisDAO, a decentralized finance (DeFi) project, lost almost $60 million in stolen Ethereum (ETH) nearly two years ago.
– The stolen funds were recently discovered to have been laundered using Tornado Cash, a decentralized protocol for private transactions.
– The thief divided and moved the stolen ETH in 100 ETH transactions using Tornado Cash.
– The stolen funds, which were worth nearly $60 million at the time, now amount to almost 26.2 million ETH.
– Investors who were duped by the AnubisDAO rug pull are unlikely to recover their funds, but some remain hopeful for a refund in the future.
Geist Finance Permanently Shuts Down Following Multichain Exploit
– Geist Finance, a lending protocol, has permanently shut down after suffering losses from a Multichain exploit.
– The team confirmed that they will not reopen lending and borrowing on Geist.
– A technical complication related to Chainlink oracles makes it impossible for Geist Finance to reenable lending without causing bad debt for holders of non-Multichain coins.
– The closure of Geist Finance highlights the risks and vulnerabilities in the crypto lending space.
These recent incidents of stolen funds and exploited protocols serve as reminders of the risks and challenges in the crypto space. While decentralized finance has the potential to revolutionize traditional financial systems, it also attracts bad actors and exposes investors to vulnerabilities. It’s crucial for investors to thoroughly research projects and their founders before making any investment. As the saying goes, “Do your own research” (DYOR) to avoid falling victim to rug pulls and exploits. Stay vigilant and remember that in the wild world of crypto, there’s always a chance of losing your funds if you’re not careful.