SlowMist Warns of Potential "Soft Rug Pull" by AssangeDAO

SlowMist analysts have raised concerns regarding a possible "soft rug pull" on March 10th. An Ethereum (ETH) transaction of 100 ETH from an AssangeDAO address transferred to a recipient seemingly associated with the decentralized autonomous organization. The blockchain forensics firm emphasizes the need for investors to exercise caution and conduct thorough research before engaging with the organization. AssangeDAO, established in 2022, gained recognition for its advocacy for Julian Assange's freedom. The initiative gathered over $53 million in cryptocurrency donations, including a contribution from Ethereum co-founder Vitalik Buterin.

SlowMist Raises Concerns Over Potential "Soft Rug Pull" by AssangeDAO

Blockchain Forensics Firm Highlights Suspicious Fund Transfers

SlowMist, a leading blockchain forensics firm, has issued an urgent advisory to investors regarding potential concerns with AssangeDAO, a decentralized autonomous organization (DAO) established to support the freedom of Julian Assange.

Background: AssangeDAO and its Mission

AssangeDAO emerged in 2022 with the noble goal of championing the release of Julian Assange, the founder of WikiLeaks, an organization renowned for its dissemination of classified information. Following a 2021 high court ruling in the United Kingdom approving Assange's extradition, AssangeDAO was formed by his supporters to advocate for his liberty.

The initiative garnered significant traction, amassing over $53 million in cryptocurrency contributions, notably including a donation from Ethereum co-founder Vitalik Buterin. The funds raised were earmarked for the acquisition of a non-fungible token (NFT) from a collection entitled "Censored" by digital artist Pak, in collaboration with Assange. The proceeds from the sale were intended to bolster Assange's defense fund and support awareness campaigns amidst his ongoing extradition battle with the United States.

Suspicious Fund Transfers Raise Red Flags

However, recent findings by SlowMist and RescuETH have revealed a series of concerning fund transfers by AssangeDAO, casting doubt on its transparency and accountability. Since 2022, the organization has allegedly transferred the majority of its assets to various addresses, including those associated with cryptocurrency exchanges such as Kraken and Coinbase.

Additionally, AssangeDAO is suspected of transferring over 1,000 Ether to unidentified smart contracts, subsequently dispersing the funds among numerous addresses. Notably, these transactions have not been accompanied by any official announcements or explanations from AssangeDAO.

Transparency Crucial for DAO Operations

SlowMist analysts emphasize the paramount importance of transparency in DAO operations, underscoring that the recent fund movements have raised legitimate questions about the ultimate destination of the funds. Investors are strongly advised to exercise caution and conduct thorough due diligence before engaging with AssangeDAO.

Assange's Ongoing Legal Battles

Despite the concerns raised by SlowMist, Assange continues to fight his extradition to the United States. On November 8, 2023, AssangeDAO announced that 16 members of the U.S. Congress had signed a letter urging Attorney General Merrick Garland to drop the charges against Assange. On March 26, 2023, a U.K. court granted Assange permission to appeal his extradition to the United States.

Beyond Cryptocurrency: Zero-Knowledge Proofs Show Potential

In related news, the latest issue of "Beyond Crypto" magazine explores the transformative potential of zero-knowledge proofs, a groundbreaking cryptographic technique with wide-ranging applications in fields such as voting, finance, and beyond.

Conclusion

The concerns raised by SlowMist regarding AssangeDAO serve as a reminder of the importance of transparency and accountability in the decentralized autonomous organization space. Investors are urged to proceed with caution and conduct thorough research before allocating funds to any DAO. As Assange's legal battles continue, the ultimate resolution of his case and the role of AssangeDAO in his defense remain subjects of keen interest in the cryptocurrency community and beyond.