OpenSea Unaware of $60 Million Rug Pull’s Involvement by an Ex-executive

OpenSea is unaware of links to ex-employee in the AnubisDAO incident amid social media allegations and doubts raised over accusers’ claims.
OpenSea Unaware of $60 Million Rug Pull's Involvement by an Ex-executive
OpenSea Unaware of $60 Million Rug Pull’s Involvement by an Ex-executive

According to OpenSea, the platform for nonfungible tokens (NFTs), there is no evidence that any former employees were involved in the infamous AnubisDAO rug pull incident in 2021. In reaction to recent allegations made on social media, this statement has been made.

On October 6, a number of tweets were published by the fictitious NFT Ethics account. They labeled OpenSea in these posts and requested a reaction about allegations that Kevin Pawlak, their former head of enterprises, may be connected to the online user alias “0xSisyphus” and may have engaged in dubious business practices.

A person by the name of 0xSisyphus, along with Pawlak, allegedly played a big role in advertising the AnubisDAO project to investors just before the project transferred the freshly raised cash to a number of external wallets, according to both NFT Ethics and blockchain analytics platform Lookonchain. Pawlak’s apparent involvement in the AnubisDAO episode may have been organized in advance with other developers, according to the NFT Ethics discussion, and the money was subsequently cleared using the cryptocurrency Pepe (PEPE).

OpenSea, however, claimed that they were unaware of Pawlak taking part in any such activities through a spokeswoman. They did admit that Pawlak’s involvement in OpenSea was quite small.

AnubisDAO allegedly acquired a substantial sum of money from cryptocurrency investors in October 2021, precisely 13,556 ETH, which was valued at almost $60 million. The investors lost money when these monies were transferred to multiple wallet addresses in less than 20 hours.

Regarding these charges, there were uncertainties and concerns. The charges, according to blockchain researcher ZachXBT, were unfounded and based on unconnected occurrences without any supporting documentation.

Notably, 0xSisyphus once offered a bounty of 1,000 ETH to anyone who could locate the wallet responsible for stealing the funds; this even attracted the attention of law enforcement organizations in the US and Hong Kong.

Zach suggested that 0xSisyphus could face legal consequences for his careless behavior. Zach speculated that the “Beerus” and “Ersan” pseudonymous individuals were likely the real AnubisDAO problem-makers.

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