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Investors Rug-pulled After Pouring $57m Into Dog-themed OlympusDAO Fork -Breaking

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Investors are rug-pulled after pouring $57m into Dog-themed OlympusDAO fork
  • AnubisDAO rose approximately 13.256.4ETH after the Discord channel launch.
  • The money were sent immediately to various addresses.
  • Ether has been lost by investors in the amount of $57 Million.

On October 28, after the launch via a Discord channel, AnubisDAO rose to about 13,256.4 ETH using Alchemist coin’s liquidity bootstrapping protocol (LBP) . It sent funds to an address at another address just 20 hours after the LBP was completed. Investors have now lost approximately $57 Million worth of Ether.

Hong Kong police also received notification of the incident. Actually, the main suspect filed a report with police and turned over a computer to authorities.

Brian Nguyen spoke out to CNBC, claiming that he lost nearly $470,000 to AnubisDAO. At the same time, he conceded to supporting a “buy first, do research later mentality,” explaining the loss as “pretty painful.”

Nguyen says he fell in love with AnubisDAO’s canine-themed branding, which accompanied the rapid gains. Recently, it was collected by some dog-token investors after observing Anubis promoted on Twitter (NYSE:) by prominent pseudonymous DeFi advocate “0xSisyphus.”

Meanwhile, 0xSisyphus has published a detailed timeline outlining AnubisDAO’s formation and launch and claims to have engaged law enforcement in both the U.S. and Hong Kong. Besides, 0xSisyphus also offers to end civil proceedings if an accomplice returns the stolen finds, minus a $1,000 ETH bounty.

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