In Brief:
- AnubisDAO, a crypto project raised $60 mn through dog meme
- The liquidity in the pool was removed after the fund went missing before the 24 hr sale ended
- The ANKH price has dropped to zero due to a lack of liquidity
Recently launched crypto project AnubisDAO that raised $60 million overnight has lost the collected money, apparently in a phishing attack.
The project was marketed as a fork of OlympusDAO, which is a cryptocurrency backed by its treasury assets. AnubisDAO was released on 28th October this year. It started small, with just a Twitter account and a Discord server. Though, its Twitter account ended up only making a few tweets. The lack of a website didn’t stop investors from participating in token sales. The project amounted to $60 mn worth ETH.
The token sale was expected to continue, with more traders putting in ETH and receiving Anubis tokens (ANKH) in exchange, for 24 hours. But after 20 hours around 11:58 UTC, the liquidity in the pool was removed – translates to — investors were restricted to buy and sell the tokens. The already collected $60 million in ETH was seem to have been sent to a different address.
Liquidity removal was enough of a bad sign and getting removed before the sale ended was even worse – implying either a rug pull or that the money had been stolen by another party. The ANKH price has dropped to zero due to a lack of liquidity to sell into
This Dog-themed DeFi Project seems to be Anubis-inspired. Anubis is an Egyptian god of death that has a dog’s head.
This is not the first time a Dog meme-themed project has been introduced. Dogecoin, a cryptocurrency, released back in 2013 as a joke, spiked in value of over $85 bn this year. The Shiba Inu Dog-themed cryptocurrency was also based on the “Doge” meme that earned a lot of attention.
There are many instances in recent times where this Dogecoin was accepted by many celebrities, entertainment, and tech industries.
