In a recent development on March 10, 2024, a 100 ETH transaction originating from an AssangeDAO address raised concerns within the crypto community, particularly among stakeholders of AssangeDAO. SlowMist analysts have expressed apprehension over the potential for a “Soft Rug Pull” given the significant fund transfers and lack of transparency regarding the ultimate destination of the funds. The analysts emphasized the importance of transparency in decentralized autonomous organization (DAO) operations to address these apprehensions effectively. Community members have been discussing the implications of the recent transactions from AssangeDAO and questioning the motives behind the large transfers.
A joint effort by SlowMist and RescuETH Rescue has delved deeper into the mystery surrounding the recent transactions from AssangeDAO. According to their analysis, 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. The address has made various transfers to contract addresses and exchanges, with notable transactions to specific addresses between June 2022 and February 2024. The concentration of transfers in certain addresses, including those associated with Kraken, has raised questions about the nature and purpose of these transactions. Investors are advised to exercise caution and conduct thorough due diligence when dealing with AssangeDAO.
AssangeDAO was established in 2022 with the aim of supporting Julian Assange, the founder of WikiLeaks, in his legal battles. Assange faces extradition to the United States on multiple charges, including violations of the Espionage Act and Computer Fraud and Abuse Act. Supporters of Assange established AssangeDAO to raise funds for his legal defense and advocate for freedom of speech issues. The organization garnered over 17,400 ETH in cryptocurrency donations, which were intended to support Assange’s legal defense fund and raise awareness about his case.
Inspired by the success of ConstitutionDAO, AssangeDAO initiated a fundraising campaign on JuiceBox to raise funds for Assange’s legal defense. The campaign bid on an NFT titled “Clock 1/1,” created by Assange and Pak, symbolizing his period of imprisonment. The proceeds from the NFT auction were to be directed towards Assange’s legal defense and advocacy efforts. The efforts of AssangeDAO received recognition when 16 members of the US Congress signed a letter urging Attorney General Merrick Garland to drop the charges against Assange. However, a UK court granted Assange permission to appeal his extradition to the United States on March 26, 2024, adding complexity to his legal situation.
The recent movements of funds from AssangeDAO’s multisig address have brought the organization under scrutiny, with questions raised about the motives behind the transactions and the ultimate destination of the funds. While the true intentions of AssangeDAO remain unclear, the organization is advised to maintain transparency in its operations to address concerns within the community effectively. Investors and stakeholders are urged to exercise caution when engaging with AssangeDAO and to conduct thorough due diligence before participating in any transactions or initiatives involving the organization.
As of now, AssangeDAO has not issued any public statements regarding the recent developments and the concerns raised by the community and analysts. The organization faces challenges in maintaining trust and transparency in light of the ongoing debates surrounding the fund transfers and potential implications for stakeholders. Moving forward, it will be crucial for AssangeDAO to address these concerns proactively, communicate effectively with the community, and ensure that its operations align with the values and objectives set forth by the organization to regain confidence and support from investors and stakeholders.
