AssangeDAO Raises Red Flags over 100 ETH Transaction, Fears of Misappropriated Funds Emerge

SlowMist analysts have raised concerns over a recent 100-eth transaction from an AssangeDAO address to a recipient potentially linked to the DAO. This has prompted worries about a potential "Soft Rug Pull," as highlighted by SlowMist and RescuETH Rescue. AssangeDAO gained attention for its mission to support WikiLeaks founder Julian Assange's legal defense.

AssangeDAO Transaction Raises Concerns of Misappropriated Funds

London, March 11, 2024 - A recent transaction of 100 Ether (ETH) originating from an AssangeDAO address has raised alarm among analysts and community members, sparking fears of a potential "soft rug pull."

AssangeDAO, a decentralized autonomous organization, gained prominence for its mission to support WikiLeaks founder Julian Assange in his legal battle against extradition to the United States. The organization launched a fundraising campaign on JuiceBox to raise funds for Assange's defense and awareness of free speech issues.

On March 10, 2024, a transfer of 100 ETH from the Clock Multisig address associated with AssangeDAO to an undisclosed recipient sent shockwaves through the community. SlowMist analysts expressed concern over the transaction, prompting a joint investigation with RescuETH Rescue.

According to MistTrack Investigations, between June 2022 and February 2024, the Clock Multisig address executed a series of 65 transactions, transferring a total of 9,750 ETH in increments of 150 ETH approximately every two weeks. Initially, most funds were sent to a Kraken-linked address (0x323339bc28028da8cd11b584747ee8ec873616b4).

However, from January 2024 onwards, transfers were diverted to a different address (0x2f988a4f26280a108a5761a889e63bd7f91d517e). RescuETH data reveals that AssangeDAO's multi-sig address received 16,600 ETH in March 2022 and currently holds 5,018.59 ETH, indicating that approximately 12,000 ETH has been transferred over the past two years.

SlowMist analysts emphasized the importance of transparency in DAO operations, stating that the recent transfers have raised questions about the ultimate destination of the funds. "It is crucial for DAOs to maintain open and accountable financial practices to ensure trust and credibility among their community," said a SlowMist spokesperson.

The AssangeDAO transaction has drawn parallels to the infamous "rug pull" incident involving ConstitutionDAO, an organization that attempted to purchase a copy of the U.S. Constitution at auction. In that case, the funds raised for the purchase were allegedly misappropriated and distributed to individuals connected to the project.

As the investigation into the AssangeDAO transaction continues, community members are urged to exercise caution and consider the potential risks associated with supporting decentralized organizations. The incident highlights the importance of transparency, accountability, and robust governance mechanisms in the rapidly evolving landscape of decentralized finance.