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Anubis DAO Descends Into the Underworld After $60M Exploit

anubis

Anubis DAO, a recently launched fork of Olympus DAO, is engulfed in chaos after 13.6K ETH ($60M) was drained from the protocol today.

Launched on Oct. 28, the project aimed to capture the current “dog-coin” craze with its branding. Anubis was an ancient Egyptian deity represented as a canine-headed man. And the plan was to combine the liquidity bonding mechanism popularized by Olympus with a treasury that would consist of Shiba Inu (SHIB) tokens.

The project launched a token sale on the Copper platform. Participants contributed ETH in exchange for ANKH tokens that were to be distributed when the sale concluded.

The sale started on Oct. 28 and attracted substantial interest from investors, who contributed $60M worth of ETH in under 24 hours.

Until all of it disappeared.

With just hours left until the sale closed, 13,597 ETH was removed from the token sale pool and sent to this address. ANKH tokens are now essentially worthless since liquidity was also withdrawn from the ANKH/ETH pool, leaving investors with no way out.

Crypto investor 0xSisyphus is offering a 1,000 ETH ($4.5M) bounty for information about the owner of the address holding the stolen funds.

Phishing Attack

Crypto Twitter was quickly on the scene with some users pointing to a rug-pull, as the Twitter account connected with the suspect’s address was deleted shortly after the funds were drained.

However, the purported owner of the account has since tweeted using an alternate account, where they shared a screenshot of an email they claim contained a malicious PDF attachment.

By opening the attachment, the user in question may have compromised his private keys, allowing the exploiter to access the funds raised in the token sale, according to the tweet.

We’re seeing reports of the same email being sent to other prominent DeFi community members.

It’s too early to draw any conclusions as the situation is still developing. But we hope that the exploiter is identified and the stolen funds returned soon.

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