China News by Thebittimes.Com

After almost two years, the stolen 13,556 ETH, which was worth nearly $60 million, amounted to almost 26.2 million at the time of writing. Nearly two years after the dog-inspired decentralized finance (DeFi) project — AnubisDAO — was rug-pulled for almost $60 million in Ether (ETH), the stolen funds were siphoned away using Tornado Cash. In October 2021, AnubisDAO raised 13,556 ETH from crypto investors owing to the predated Dogecoin (DOGE) trend. However, roughly 20 hours into the investment, the funds were sent to a different address — resulting in an instant loss for the investors. Between July 15 and 16, the illicit funds were moved via Tornado Cash, a decentralized protocol that allows private transactions. The person in possession of the 13,556 ETH divided and moved the funds via 100 ETH per transaction, as shown in the screenshot below. A snippet of AnubisDAO’s rug pull funds transaction history. Source: etherscan.io The information was brought forward by blockchain investigato...

Join Our Telegram channel to stay up to date on breaking news coverage Censorious MEV-Boost relays, notably Flashbots, are producing an increasing number of Ethereum blocks. If the MEV organization truly cares about Ethereum, it might think about ceasing operations so that developers can put a long-term fix in place. 51% of blocks are threatened with censorship The MEV censorship issue in Ethereum is getting worse by the hour. MEV Watch reports that 51% of yesterday’s Ethereum blocks were created by so-called “OFAC compliant” MEV-Boost relays, which are relays that have publicly announced their intention to censor future transactions via Tornado Cash or other protocols targeted by the U.S. Treasury. Arbitrage opportunities discovered by rearranging transactions within a block while it is being produced are referred as as MEV, or “Maximum Extractable Value.” For on-chain merchants and validators, Flashbots and other MEV-Boost relays essentially ac...