Analysts at SlowMist have raised concerns about a possible “soft rug pull” on March 10 when a 100 Ether transaction from AssangeDAO’s address went to a recipient seemingly associated with the decentralized autonomous organization.

The blockchain forensics firm emphasized that while the true intentions of AssangeDAO are unclear, investors should proceed with caution and conduct comprehensive due diligence before interacting with the organization.

AssangeDAO, launched in 2022, rose to prominence with its stand for the liberation of Julian Assange, an Australian activist renowned for creating WikiLeaks, a platform committed to disclosing classified data from unidentified origins.

Following a 2021 United Kingdom High Court ruling on Assange’s extradition, backers established AssangeDAO to champion his freedom.

The initiative amassed over $53 million in cryptocurrency contributions, notably including a donation from Ethereum co-founder Vitalik Buterin.

The AssangeDAO intends to use the fund to bid on a one-of-one nonfungible token (NFT) from a drop called “Censored” by digital artist Pak in collaboration with Assange.

The proceeds of the sale were to go toward Assange’s defense fund and additional awareness campaigns as he fights extradition to the United States this month.

The Assange DAO’s $53.7 million figure marked the largest ever raise from a DAO using the community funding hosting platform Juicebox, ousting the widely popular ConstitutionDAO, which raised $49 million from the community in late 2021 to bid on a copy of the first edition print copy of the United States Constitution.

However, the collaborative analysis by SlowMist and RescuETH discovered that beginning in 2022, AssangeDAO moved most of its funds to multiple addresses, including several associated with cryptocurrency exchanges such as Kraken and Coinbase.

Furthermore, the group transferred more than 1,000 Ether to various unidentified smart contracts, dispersing the funds among numerous addresses. AssangeDAO had not issued any public statements regarding the matter at the time of publication.

SlowMist analysts stressed the importance of transparency in DAO operations, highlighting that the recent substantial fund transfers have prompted numerous inquiries, especially regarding where the funds ultimately ended up.

On Nov. 8, AssangeDAO announced that 16 Congress members signed a letter urging Attorney General Merrick Garland to drop the dangerous and unprecedented charges against Julian Assange.

However, Assange on Tuesday was granted permission by a U.K. court to appeal his extradition to the U.S.

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