Fun

AssangeDAO’s crypto activities suspicious, analysts urge caution

News Feed - 2024-04-03 09:04:03

Amaka Nwaokocha11 hours agoAssangeDAO’s crypto activities suspicious, analysts urge cautionSlowMist urges transparent DAO operations amid recent transfers, sparking questions about fund destinations.767 Total views1 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksAnalysts at SlowMist have raised concerns about a possible “soft rug pull” on March 10 when a 100 Ether (ETH) transaction from an AssangeDAO address went to a recipient seemingly associated with the decentralized autonomous organization.


The blockchain forensics firm emphasized that while the true intentions of AssangeDAO are unclear, investors should proceed with caution and conduct comprehensive due diligence before interacting with the organization.


AssangeDAO, which launched in 2022, rose to prominence with its stand for the freedom of Julian Assange, an Australian activist famous for creating WikiLeaks, a platform committed to disclosing classified data from unidentified origins.The process of an AssangeDAO-related address transferring funds to another AssangeDAO-related address. Source: SlowMist


Following a 2021 high court ruling in the United Kingdom on Assange’s extradition, backers established AssangeDAO to advocate for his freedom.


The initiative amassed over $53 million in cryptocurrency contributions, including a donation from Ethereum co-founder Vitalik Buterin.


The AssangeDAO intends to use the funds to bid on a one-of-one nonfungible token (NFT) from a drop called “Censored” by digital artist Pak in collaboration with Assange.


The sale proceeds are supposed to go toward Assange’s defense fund and additional awareness campaigns as he fights extradition to the United States.


The AssangeDAO’s $53.7 million marked the largest amount raised by a decentralized autonomous organization (DAO) using the community funding hosting platform Juicebox, overtaking the widely popular ConstitutionDAO, which raised $49 million from the community in late 2021 to bid on a copy of the first edition print copy of the United States Constitution.


Related:Lido staked SOL holders fret as $24M remains stuck on ‘broken’ contract


However, collaborative analysis by SlowMist and RescuETH discovered that beginning in 2022, AssangeDAO moved most of its funds to multiple addresses, including several associated with cryptocurrency exchanges such as Kraken and Coinbase.


Furthermore, the group transferred more than 1,000 Ether to various unidentified smart contracts, dispersing the funds among numerous addresses. AssangeDAO had not issued any public statements regarding the matter at the time of publication.


SlowMist analysts stressed the importance of transparency in DAO operations, highlighting that the recent transfers have sparked questions, especially regarding where the funds ultimately ended up.


On Nov. 8, 2023, AssangeDAO announced that 16 members of the U.S. Congress signed a letter urging Attorney General Merrick Garland to drop the dangerous and unprecedented charges against Assange.


On March 26, Assange was granted permission by a U.K. court to appeal his extradition to the United States.


Magazine:Beyond crypto — Zero-knowledge proofs show potential from voting to finance# Business# Security# Decentralization# Technology# DAO# DeFi# Web3Add reactionRead moreBitcoin miner Sphere 3D refutes Gryphon’s claims of financial doubts: "Disingenuous"Meta’s metaverse lab has lost $40B since Facebook changed its name in 2021BIS and 7 central banks to explore asset tokenization through Project Agora

News Feed

Rumors of Bitcoin’s Death Are Greatly Exaggerated
Rumors of Bitcoin’s Death Are Greatly Exaggerated According to the Bitcoin Obituary Page, Bitcoin died 379 times between 2010-2019 of an astonishing array of causes. The number
ARK and 21Shares drop staking plans from Ethereum ETF proposal
Amaka Nwaokocha51 minutes agoARK and 21Shares drop staking plans from Ethereum ETF proposalBloomberg ETF analyst Erich Balchunas suggests the update may be a response to potential SEC feedback despite no official comment
Bitcoin price loses ground as TON, PEPE, KAS and JASMY catch traders’ attention
Rakesh Upadhyay15 hours agoBitcoin price loses ground as TON, PEPE, KAS and JASMY catch traders’ attentionTON, PEPE, KAS, and JASMY could attract buying if bears fail to pin Bitcoin below $64,602.6709 Total views34 Tot
ChatGPT can write smart contracts; just don’t use it as a security auditor
Tristan Greene11 hours agoChatGPT can write smart contracts; just don’t use it as a security auditorResearchers from Salus Security tested GPT-4 and other artificial intelligence systems’ ability to detect seven comm
Tom Mitchelhill7 hours agoIRS investigating crypto traders using Puerto Rico tax breaks: Report“The noose is tightening” for wealthy Americans suspected of exploiting Puerto Rico’s relaxed tax regime.3477 Total vie
Arijit Sarkar29 minutes agoNansen phishing emails flood crypto investors’ inboxesOn Sept. 22, one of Nansen’s third-party vendors suffered a security breach, which exposed the email addresses of 7% of the system’s
XRP Set For Surge To $2.90, Analyst Explains How
Este artículo también está disponible en español. Popular market analyst Egrag Crypto has tipped XRP to soon hit the $2.90 price mark. This prediction comes amidst little
‘Inflation in the News Driven by Rich People’ — Media Pundits Claim ‘Inflation Is Good’ as Americans Struggle With Less Purchasing Power
‘Inflation in the News Driven by Rich People’ — Media Pundits Claim "Inflation Is Good" as Americans Struggle With Less Purchasing Power Inflation in the U.S. has a large nu
Crypto service provider regulations set out in Estonian bill
Derek Andersen2 hours agoCrypto service provider regulations set out in Estonian billCrypto firms are only subject to AML regulation in Estonia, but a new bill would bring Estonia into conformity with MiCA.658 Total view
Web3 Privacy Layer Aztec Raises $100 Million in Series B Funding Round to Produce an Encrypted Version of Ethereum
Web3 Privacy Layer Aztec Raises $100 Million in Series B Funding Round to Produce an Encrypted Version of Ethereum Aztec, a Web3 privacy layer, has raised $100 million in a Series
ETH price nears 3-year lows vs. Bitcoin — Will an Ethereum ETF stem the tide?
Zoltan Vardai9 hours agoETH price nears 3-year lows vs. Bitcoin — Will an Ethereum ETF stem the tide?The current ETH price dip could present a good buying opportunity for short and long-term investors ahead of the Hong
Report: Blockchain Patents ‘Skyrocket’ in 2020, Alibaba Owns the Most Crypto Patents
Report: Blockchain Patents "Skyrocket" in 2020, Alibaba Owns the Most Crypto PatentsA study from the team at Kisspatent shows that Alibaba Group is the largest blockchain patent hol