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Community Concerns Rise as AssangeDAO Faces Potential Fund Transfer Issues
Recent transactions from AssangeDAO have sparked intense debate within the crypto community. Despite noble beginnings, large transfers raise questions. Delve deeper into the mystery with our latest analysis. Are we witnessing a strategic move or a cause for concern?
- On March 10, 2024, a transfer of 100 ETH from AssangeDAO’s multisig address, 0x5DAEA26517788b1c0DDB0200c6Fa6d8248076143, to a new address sparked concerns within the community, especially among stakeholders of AssangeDAO.
- This development has raised fears of a potential “Soft Rug Pull,” prompting collaborative efforts by SlowMist and RescuETH Rescue to address these apprehensions in a joint article.
- According to the article, AssangeDAO’s multisig address received 16,600 ETH in March 2022 and has transferred nearly 12,000 ETH over two years, leaving a balance of 5,018.59 ETH.
Address Transactions Overview
The address transferred 580.745 ETH to a contract address (0xeD2…131) on April 8, 2022. Further transfers include 34.99 ETH to Kraken and 829.64 ETH to another contract address (0x8a1…262) on May 9, 2022.
Between June 8, 2022, and February 16, 2024, it transferred 9,750 ETH across 65 transactions, mainly to (0x323339bc28028da8cd11b584747ee8ec873616b4). Notably, the last two transfers of 150 ETH each were directed to (0x2f988a4f26280a108a5761a889e63bd7f91d517e) starting January 23, 2024.
On March 6 and 10, 2024, it transferred a total of 200 ETH to (0x2f988a4f26280a108a5761a889e63bd7f91d517e).
Analysis of Fund Transfer Patterns
The analysis reveals concentration in two addresses: (0x323339bc28028da8cd11b584747ee8ec873616b4) with a history of transfers to Kraken and (0x2f988a4f26280a108a5761a889e63bd7f91d517e) with recent large transfers.
Further scrutiny of these addresses shows a pattern of significant movement and redistribution of ETH, raising questions about the nature and purpose of these transactions. While AssangeDAO’s true intentions remain unclear, investors are urged to approach the organization with caution and conduct thorough due diligence.
AssangeDAO Faces Scrutiny Over Fund Transfers Amid Assange’s Legal Battles
AssangeDAO, established in 2022, gained prominence due to its association with Julian Assange, the Australian activist renowned for founding WikiLeaks, a platform dedicated to disclosing classified information from anonymous sources.
Assange is wanted in the US on 18 charges, including 17 under the Espionage Act and one under the Computer Fraud and Abuse Act. He faces up to 175 years in prison after WikiLeaks published hundreds of thousands of leaked confidential military files and diplomatic documents related to the Afghanistan and Iraq wars.
Assange has been facing extradition following a 2021 UK High Court ruling, prompting supporters to establish AssangeDAO to champion his cause. The campaign amassed over 17,400 ETH in cryptocurrency donations, with the proceeds intended for Assange’s legal defense fund and further initiatives to raise awareness.
Inspired by the success of ConstitutionDAO, AssangeDAO initiated a fundraising campaign on JuiceBox to support Assange’s legal defense and raise awareness about free speech issues. The campaign bid on an NFT titled “Clock 1/1,” crafted by Assange and Pak, symbolizing his imprisonment period, with the proceeds going towards his legal defense and advocacy efforts.