Oct 09, 2023 Frank Stewskid
OpenSea Distances Itself from Ex-Exec Amid AnubisDAO Scandal Allegations
Nonfungible token (NFT) marketplace OpenSea has come under recent attention following online discussions suggesting a former executive's potential involvement in the 2021 AnubisDAO scandal.
In a thread dated Oct. 6 on X (previously known as Twitter), NFT Ethics questioned OpenSea about Kevin Pawlak, formerly with OpenSea, potentially being connected to the pseudonymous "0xSisyphus," known for controversial business dealings.
1/ Dear @OpenSea, what do you think of the fact that your Head of Ventures, Kevin Pawlak, has been involved in various very dubious business dealings (e.g. Anubis) and pump & dump schemes under his pseudonymous identity @0xSisyphus (& 0xMagellan)? pic.twitter.com/GzIVLJirLE
— NFT Ethics (@NFTethics) October 6, 2023
NFT Ethics and blockchain analysis profile Lookonchain suggested that 0xSisyphus, potentially Pawlak, played a significant role in promoting AnubisDAO to investors. This promotion occurred shortly before the acquired funds were channeled to various external wallets. The thread also insinuated that the funds might have been funneled through the memecoin, Pepe (PEPE).
However, OpenSea responded with clarity, emphasizing their lack of knowledge about Pawlak's alleged activities. A representative's statement surfaced online, "Kevin left OpenSea in June 2023. During his tenure, he held a defined, primarily non-managerial role. We aren't privy to any links he might have to the projects being discussed."
What Was the 2021 AnubisDAO Rug Pull?
In October 2021, AnubisDAO garnered 13,556 ETH, influenced by the trending Dogecoin. However, just 20 hours later, these funds were redirected, resulting in substantial investor losses.
In July 2023, these misdirected assets were shuffled using Tornado Cash, a decentralized mechanism for private transactions. The assets were split and moved in increments of 100 ETH.
Blockchain analyst ZachXBT expressed reservations about the online discourse, noting a lack of concrete evidence. He added that 0xSisyphus had even offered a 1,000 ETH reward for information about the fund's diversion, further complicating the narrative.
1/ Here is my analysis of the $60M Anubis DAO rug pull.
— ZachXBT (@zachxbt) July 20, 2023
I noticed a clear trend in 2023 of funds being withdrawn from Tornado Cash and bridged to Polygon before consolidating to two exchange accounts. pic.twitter.com/UX0uHSG9TN
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