Transfers originating from AssangeDAO’s wallet address have sparked concerns regarding potential rug pulls, prompting increased scrutiny into the organization’s transparency and financial practices.
Established in 2022, AssangeDAO gained recognition for its association with Julian Assange, the Australian activist behind WikiLeaks. Initially formed to advocate for Assange’s release amid his extradition proceedings, the DAO garnered substantial crypto donations, including support from Ethereum co-founder Vitalik Buterin.
However, recent on-chain transactions have raised doubts about the transparency of AssangeDAO’s operations. A 100 ETH transfer on March 10th from the DAO’s address led to suspicions of a “soft rug pull,” as the recipient appeared to have direct ties to the organization, as reported by analysts at SlowMist.
Further analysis by SlowMist and RescuETH uncovered a pattern of fund transfers from AssangeDAO’s address dating back to 2022. These transfers included sizable amounts sent to various addresses, including deposit addresses of major cryptocurrency exchanges such as Kraken and Coinbase. Additionally, over 1,000 Ethereum (ETH) was sent to multiple unidentified smart contracts, dispersing funds across numerous addresses.
Highlighting the importance of transparency in DAO operations, SlowMist emphasized that the recent significant fund movements have raised considerable concerns, particularly regarding the ultimate destination of the funds.
While the intentions behind AssangeDAO’s actions remain unclear, investors are cautioned to exercise vigilance and conduct thorough due diligence before engaging with the organization. As of the time of reporting, AssangeDAO has not released any official statements addressing the situation.