ETHTrustFund DAO’s $2M Transfer Raises Exit Scam Concerns

The article discusses ETHTrustFund DAO’s transfer of $2 million from its treasury to mixer apps, raising suspicions of an exit scam.

Points

• ETHTrustFund DAO transfers $2 million to Tornado Cash and Railgun, sparking exit scam concerns.
• All websites and social media accounts deleted, adding to suspicions.
• Project initially promoted as a decentralized autonomous organization （DAO） with rebasing features.
• Security experts and community members react to the suspected rug pull.

ETHTrustFund DAO, a protocol on the Base network, has raised significant concerns in the crypto community after transferring $2 million from its treasury to Tornado Cash and Railgun mixer applications on July 20. Following the transfer, all websites and social media accounts associated with ETHTrustFund were deleted, leading to widespread speculation that the project has executed an exit scam, commonly referred to as a “rug pull.”

https://x.com/0ctoshi/status/1815026461675335752
https://x.com/PeckShieldAlert/status/1815275372818428332

Octoshi, a notable figure in the crypto community, revealed that ETHTrustFund’s lead developer, Peng, stopped responding to messages on Telegram in April, preceding the suspected rug pull.

解説

• The transfer of $2 million from ETHTrustFund DAO’s treasury to mixer apps raises serious concerns about the project’s legitimacy.
• The deletion of all associated websites and social media accounts is a common tactic in exit scams, aiming to erase the project’s digital footprint.
• The initial promise of rebasing features and blockchain-based bonds highlights the deceptive nature of the project’s marketing.
• Investors should be vigilant and conduct thorough due diligence when participating in decentralized finance （DeFi） projects to avoid potential scams.
• The crypto community’s reaction underscores the importance of transparency and accountability in the cryptocurrency space.