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ETHTrustFund

avoid.net/ethtrustfund→2/100·88% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·5Kd1vL…h4tT

Summary

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
Organizations
□Railgun40□Ethereum64□ETHTrustFund□Base68□ZachXBT82
Protocols
⌂Uniswap58
Tokens
♦Coinbase62
Relationships
  • 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
Also appears in
Railgun·40Base·68Ethereum·64Lendf.me·30Levyathan·18Jump Trading·42OpenZeppelin AI Exploit Threat Vector·15StableMagnet·2Shibarium·28Dean Daghita / CMDSS (Command Services and Support)·0+ 50 more

Connected Through

6 shared actors · 618 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about ETHTrustFund?

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.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain6 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 6 of 6 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:30 AM

last updated: 8/29/2026, 3:48:23 PM

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