In a recent development, stolen funds from the dog-inspired decentralized finance (DeFi) project AnubisDAO, which suffered a rug pull almost two years ago, have been moved using Tornado Cash. AnubisDAO raised 13,556 ETH in October 2021 but lost the funds shortly thereafter when they were transferred to a different address.
Between July 15 and 16, the stolen funds were divided and moved in 100 ETH transactions via Tornado Cash, a decentralized protocol known for enabling private transactions. The total value of the stolen funds, which were worth approximately $60 million at the time of the exploit, currently amounts to around $26.2 million.
Some investors still hold out hope for a potential refund in the future if the bear market recovers, although this outcome is highly unlikely. As a cautionary measure, investors are advised to conduct thorough research on projects and their founders before making any investments.
The losses resulting from the exploit led to the permanent shutdown of Geist Finance, a lending protocol affected by the Multichain exploit. The team behind Geist Finance has confirmed that they have no plans to resume lending and borrowing on the platform. Additionally, a technical complication makes it “impossible” for Geist Finance to reintroduce lending, as it would result in bad debt for holders of non-Multichain coins such as Magic Internet Money (MIM) or Fantom (FTM).