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AnubisDAO Liquidity Rug 3: Transfer of 3000 ETHs to Tornado Cash Caught By CertiK Monitoring

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According to reports, according to CertiK monitoring, AnubisDAO Liquidity Rug 3 address has transferred 3000 ETHs (approximately $5.6 million) to Tornado Cash via EOA address (0x0D

AnubisDAO Liquidity Rug 3: Transfer of 3000 ETHs to Tornado Cash Caught By CertiK Monitoring

According to reports, according to CertiK monitoring, AnubisDAO Liquidity Rug 3 address has transferred 3000 ETHs (approximately $5.6 million) to Tornado Cash via EOA address (0x0D1953).

AnubisDAO Liquidity Rug 3 address has transferred 3000 ETHs to Tornado Cash

Cryptocurrencies and blockchain technology have seen significant growth in value and acceptance over the years. With increased adoption, more and more people have started using digital currencies for various transactions. However, not all actions in the crypto world are to be trusted. There are many frauds and scams that are perpetrated using digital currencies such as Ethereum. One such instance is AnubisDAO Liquidity Rug 3’s transfer of 3000 ETHs (approximately $5.6 million) to Tornado Cash via EOA address (0x0D1953), as detected by CertiK monitoring.

What is AnubisDAO Liquidity Rug 3?

AnubisDAO Liquidity Rug 3 was a cryptocurrency investment platform that promised high returns to its investors. However, as reports suggest, it soon became a “rug pull” scam where the platform’s developers dumped all the funds invested by users and disappeared. This left investors without any returns on their investments. The platform was also flagged as a fraudulent one by various monitoring services, but the damage had been done by then.

What is Tornado Cash?

Tornado Cash is a ‘privacy-first’ and non-custodial platform that allows users to mix their Ethereum transactions. This helps in keeping the transactions private and blocks third parties from tracing them. The protocol also allows users to withdraw their funds in the form of newly mixed Ether tokens or in their original state. However, Tornado Cash has also been criticized for being used as a channel for money laundering and other illegal activities.

The Transfer of 3000 ETHs to Tornado Cash

As per reports by CertiK monitoring, the EOA address (0x0D1953) transferred 3000 ETHs or approximately $5.6 million, to Tornado Cash. This transfer was allegedly carried out by the developers of AnubisDAO Liquidity Rug 3. The Ethplorer blockchain explorer also confirms this transfer.

Implications of the Transfer

The transfer of such large amounts of money to Tornado Cash raises eyebrows about the motives behind it. It is well known that Tornado Cash has several instances of illegal and fraudulent activities. While mixing cryptocurrencies for privacy is a legitimate use case, it can also be exploited for criminal activities like money laundering, tax evasion, and financing terrorism. Hence, such transfers to platforms like Tornado Cash signal the need for regulators to get involved in the cryptocurrency space to prevent such activities.

Conclusion

CertiK monitoring has caught a significant transfer of 3000 ETHs or approximately $5.6 million by the AnubisDAO Liquidity Rug 3’s developers to Tornado Cash. This transfer is a clear indication that there are still frauds and scams going on in the cryptocurrency world. The transfer to a platform known for illegal activities increases concerns over the lack of regulations in the cryptocurrency space. It is imperative that regulators and authorities take appropriate steps to prevent the misuse of digital currencies, and bring the guilty parties to justice.

FAQs

Q1. What is a “rug pull” scam?

A1. A rug pull scam is when developers of a cryptocurrency platform suddenly pull all the liquidity from their platform, leaving investors with no returns on their investments.

Q2. What is mixing in Tornado Cash?

A2. Mixing in Tornado Cash refers to the action performed by the protocol that anonymizes user’s cryptocurrency transactions so that they can’t be traced.

Q3. How can users protect themselves from such scams?

A3. Users should always research the platform before investing their money. They should also be vigilant and not fall for promises that seem too good to be true.

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