Crypto project that raised $ 60 million overnight using a dog meme saw all that money disappear in what could have been a phishing attack

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The AnubisDAO project was named after the Egyptian god of death. Khym Harrison / iStock / Getty Images Plus

$ 60 million in ether went missing from a cryptocurrency project fundraising effort, The Block reported.

AnubisDAO has been promoted as a protocol update for a cryptocurrency named OlympusDAO.

But a few hours before the scheduled end of the token sale, the liquidity of the crowdfunding pool disappeared.

$ 60 million quickly disappeared from a cryptocurrency project, the disappearance apparently the result of a phishing attack, according to a report released Friday.

AnubisDAO was first promoted this week as a fork of OlympusDAO, an asset-backed cryptocurrency from its treasury, according to The Block, which publishes digital asset news and research. Forks are either minor and major updates in a network protocol or the open source software that runs blockchains.

The fork theme, announced on a Twitter account and with a Discord server launch, centered around Anubis, an Egyptian god of death rendered in the image of a dog.

Investors paid $ 60 million ether in a token sale to support the update despite the lack of a website, according to the report. A 24-hour sale was supposed to earn investors anubis, or ANKH, tokens. However, the liquidity of the pool that allows investors to buy and sell tokens has been removed 20 hours after the start of the sale.

The millions of dollars in ether that were invested in the token sale that took place on Copper’s website were then sent to a different address. The bloc noted that ANKH’s price had effectively fallen to zero as there was no cash to sell. The token sale has since been phased out.

People on Twitter found transactions linking the wallet that received the funds to a Twitter account named @Beerus, but the account was deleted. The owner of the Twitter account claimed – under another account – that it appeared to have been the subject of a phishing attack.

Read the original article on Business Insider

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