Anubis DAO represented the second biggest rug pull case of the year. The scam that involved around 13,200 ETH tokens, cost users an estimated $52 million, at the current exchange rate of the cryptocurrency. The removal of some 13,200 ETH tokens also caused quite a stir among the crypto community due to the sheer amount and value therein. In the wake of the scam, disappointed members of the Reddit community raised valid concerns about the vulnerability of protocols. The cryptocurrency, based on the Egyptian god of the dead who is often depicted with a dog-like Jackal head, was an OlympusDAO fork, which in turn is inspired by Shiba Inu. The launch of the crypto asset ended on October 29th, managing to raise 13,260 in Wrapped Ethereum.

As is well known, Copper is Alchemist’s liquidity start-up protocol which facilitates collective financing for such a project. AnubisDAO transferred the raised funds to a different address than the liquidity start-up protocol. Hopeless investors were surprised and saddened at having been scammed. Dog tokens have gained a lot of ground in the crypto universe of late, with new assets such as Shiba Inu and Floki Inu taking the reins. Naturally, the rise of such “memecoins” proved alluring for scammers hoping to catch unwary traders who are easily drawn in by hype. The participation of Tracingia LLC led to the tracing of the security breach.

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