ETHTrustFund (ETF): Insider Rug Pull — Deployer Drains Treasury Smart Contract
ETHTrustFund's anonymous founder "Peng" spent months building community trust on Base, then drained a $2.1M treasury smart contract in two transactions nine hours apart, disappearing into Tornado Cash and Railgun.
Summary #
ETHTrustFund (ETF) suffered a Yield / OHM Fork (Rebasing Token) on 2024-07-21, resulting in a loss of approximately $2M.
What happened #
ETHTrustFund's anonymous founder "Peng" spent months building community trust on Base, then drained a $2.1M treasury smart contract in two transactions nine hours apart, disappearing into Tornado Cash and Railgun.
Linked factors #
- RD-F-007 — related : Bug bounty absent — baseline integrity gap [via dashboard_risk_factors/Bug bounty: None]
- RD-F-027 — causal : ★ Single admin EOA — when value mentions key compromise [via realtime_signals/Governance/admin action: Y — deployer directly transferred treasury funds; admin privilege over treasury was single-key]
- RD-F-101 — illustrative : Large governance proposal queued — RT signal would have fired [via realtime_signals/Governance/admin action: Y — deployer directly transferred treasury funds; admin privilege over treasury was single-key]
- RD-F-111 — causal : Team doxx status — pseudonymous-no-track-record class [via dashboard_risk_factors/Team anonymity: Anonymous — founder known only as "Peng"; no verified identity]
- RD-F-126 — causal : Is-a-fork-of (Cat 8 anchor) [via dashboard_risk_factors/Forked?: Y — OHM (Olympus DAO) fork; rebasing bond mechanism]