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On July 21, the founder of the cryptocurrency hedge fund ETHTrustFund under the nickname Repd moved $2.2 million to a new wallet after three months of inactivity. A number of on-chain analysts reported on the likely rug pull.
Funds from the Treasury wallet were initially transferred to a new address, then they were exchanged for Ethereum and laundered using Railgun and Tornado Cash mixers.
Repd deleted the official Telegram and X project, as well as personal accounts on these platforms. The ETHTrustFund website is down, but documentation is still available.
ETHTrustFund, a decentralized hedge fund, has raised funding following a wave of hype surrounding the launch of the Base blockchain, ETFs, and meme tokens. It promised users "the highest return on Earth" by investing in early-stage projects and participating in exclusive Base airdrops.
The project also announced the creation of a new token standard, which allegedly allowed maximizing the profitability of staking, while protecting its value for the holder.
Funds from the Treasury wallet were initially transferred to a new address, then they were exchanged for Ethereum and laundered using Railgun and Tornado Cash mixers.
Repd deleted the official Telegram and X project, as well as personal accounts on these platforms. The ETHTrustFund website is down, but documentation is still available.
ETHTrustFund, a decentralized hedge fund, has raised funding following a wave of hype surrounding the launch of the Base blockchain, ETFs, and meme tokens. It promised users "the highest return on Earth" by investing in early-stage projects and participating in exclusive Base airdrops.
The project also announced the creation of a new token standard, which allegedly allowed maximizing the profitability of staking, while protecting its value for the holder.
