ETHTrustFund
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -73 |
| Sum | -8 |
- The page establishes that the subject is itself a scheme, so the score is 0.
- 1 section set aside: the claims did not hold up in a fact-check, pending correction.
Score: 0/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 11 of 14 claims confirmed · 2 need better sources · 1 disputed
anchored·5Kd1vL…h4tTSummary
ETHTrustFund (ticker: ETF) was a decentralized autonomous organization (DAO) built on Coinbase's Base layer-2 network that marketed itself as an OHM (Olympus DAO) fork and decentralized crypto hedge fund. On July 20, 2024, the pseudonymous lead developer known only as 'Peng' drained approximately 607 ETH (worth ~$2.1–2.2 million) from the project treasury and laundered the funds through the privacy protocols Tornado Cash and Railgun before disappearing entirely. ZachXBT has flagged this entity as a fraudulent project. The project's website, Twitter, and Telegram accounts were permanently deleted following the exit.
Connected Entities
7 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- ZachXBT→mentioned with→Ethereum(70%)
- ETHTrustFund→mentioned with→Base(70%)
- ETHTrustFund→mentioned with→Ethereum(80%)
- ETHTrustFund→mentioned with→Uniswap(65%)
- ETHTrustFund→mentioned with→ZachXBT(70%)
- ETHTrustFund→mentioned with→Railgun(70%)
- ETHTrustFund→mentioned with→Coinbase(65%)
- Uniswap→mentioned with→Ethereum(80%)
- Coinbase→mentioned with→Base(70%)
- + 7 more
Connected Through
6 shared actors · 621 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- ♦Coinbasetoken
- ⌂Uniswapprotocol
Timeline(5 events)
14 March 2024
$ETF token launched on Uniswap V3 on Base network at 12pm ET; token pumped then declined approximately 90% within one week of launch.
April 2024
Lead developer 'Peng' allegedly went silent on Telegram, ceasing to respond to community messages approximately three months before the rug pull.
20 July 2024
Developer executed rug pull in two transactions: first transferring ~3.2 million BRETT tokens (~$453,000), then ~477 ETH (~$1.65 million) approximately 9.5 hours later. Total: ~607 ETH (~$2.1–2.2 million). Funds bridged to Ethereum mainnet and routed through Tornado Cash and Railgun.
21 July 2024
Crypto community researcher Octoshi publicly disclosed the suspicious treasury transfers and disappearance of the developer on social media.
22 July 2024
Blockchain security firm PeckShield confirmed the rug pull via an on-chain alert. Ogle (glue.net) filed a report on ChainAbuse. Rekt News published a full incident report.
Decision Log
- slot 464374235 · hash GMqXZLfuBMnNUo4WUm3YTEYbxt1zAssv8AX3xmnmnMRs
- slot 464374230 · hash 4goiS9zehvpLSvG8UiXcgx5S6j8rF3cQF4k7GbTUBFo5
- slot 461964355 · hash 4i4ppenr3gdEYe9ub8P8sKvzLNNSDbQSzdmMB3181FTu
- slot 422548190 · hash 9Jqt9fHuLy2LYqDTNPje5LYibQnLj1E6tf7RfUuM1dPQ
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 6 of 6 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:30 AM
last updated: 11/2/2026, 5:16:05 AM
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