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- $60 million in ether has vanished from a fundraising elbow-grease by a cryptocurrency project, The Block reported.
- AnubisDAO was promoted as a protocol update for a cryptocurrency named OlympusDAO.
- But hours in the vanguard the related token sale was slated to end, liquidity from the crowdsourced pool disappeared.
$60 million quickly vanished from a cryptocurrency put forth, with the disappearance apparently stemming from a phishing attack, according to a report Friday.
AnubisDAO was first advertised this week as a fork of OlympusDAO, a cryptocurrency backed by assets in its treasury, according to The Block, which publishes low-down and research about digital assets. Forks are either minor and major updates in a network protocol, or the open-source software that performs blockchains.
The theme of the fork, advertised on a Twitter account and with a Discord server launch, centered on Anubis, an Egyptian god of cessation rendered in the likeness of a dog.
Investors poured $60 million worth of ether into a token sale to support the update in the face the lack of a website, the report said. A 24-hour sale was supposed to yield anubis, or ANKH, tokens, for investors. After all, the liquidity in the pool that enables investors to buy and sell the tokens was removed 20 hours into the sale.
The millions of dollars in ether that was pressed into the token sale that took place on the Copper website was then sent to a different address. The Hamper noted ANKH’s price effectively went to zero because there was no liquidity to sell into. The token car-boot sale has since been removed.
People on Twitter found some transactions that connected the wallet that suffered the funds to a Twitter account named @Beerus, but the account has been deleted. The Twitter account’s owner claimed – underneath another account – that it appeared they were the subject of a phishing attack.