A crypto project that raised $60 million overnight using a dog meme saw all of that money go missing in what may have been a phishing attack

AnubisDAO was named after the Egyptian god, death. Khym Harrison/ iStock / Getty images Plus
The Block reported that $60 million worth of ether was lost in a fundraising effort for a cryptocurrency project.

AnubisDAO was promoted to be a protocol update for OlympusDAO, a cryptocurrency.

However, hours before the token sale was scheduled to close, liquidity from crowdsourced pool vanished.

According to Friday's report, $60 million disappeared quickly from a cryptocurrency project. The disappearance was apparently caused by a phishing attack.

AnubisDAO was promoted as a fork by OlympusDAO this week. This is a cryptocurrency that is backed with assets from its treasury according to The Block. Forks can be minor or major updates to a network protocol or the open-source software which runs blockchains.

The fork's theme was advertised via a Twitter account with a Discord server launch. It featured Anubis, an Egyptian god-of-death rendered in the form of a dog.

According to the report, investors poured $60 million worth ether into a token sales to support the update, despite the absence of a website. Investors were supposed to receive anubis tokens (or ANKH) after a 24-hour sale. The liquidity that allows investors to purchase and sell tokens from the pool was removed 20 hours after the sale.

The token sale on Copper that saw millions of dollars in ether was then pushed to an address that was different. It was then sent to another address. Block observed that ANKH's value effectively fell to zero due to insufficient liquidity. Since then, the token sale was removed.

Twitter users discovered transactions linking the wallet that received funds to @Beerus. However, the account was deleted. According to another account, the owner of the Twitter account claimed that they appeared to be the victim of a phishing attack.