Welcome to Week in Crypto Drama #3! This week was dominated by big money moves.
The biggest news is clearly the largest ever defi hack, a whopping 600MUSD (173,600 Ethereum and 25.5M USDC) was stolen from Ronin bridge. . CT did what CT is doing best - told-you-so’s and memes were quick to follow:
Sidechains are not L2s, bridges are dangerous, and having a separate validator set is silly.
And “someone” shorted AXS a bit too soon:
I noticed that Axie bridge was exploited for $600m 6 days ago, so I shorted AXS with high leverage I was early. I executed quickly, like the expert traders taught me. Within 24 hours I was liquidated because nobody else noticed the hack for 6 days and the price pumped instead
This week I learned that Fuse blockchain existed. Apparently I wasn’t the only one. I learned about Fuse from our bizdev efforts, CT learned about Fuse from a 4MUSD hack on Voltage Finance lending platform.
Talking about blockchains no-one has heard about. Or at least until the team starts to pump the native token to create the king of all ponzis. Enter Waves.
Another humble 540MUSD of hacked bitcoin from 2014 made some demonic moves.
Big money causes fuss on cosmos ecosystem as well. An airdrop gone wrong made JUNO community a bit pissed. They’re about to confiscate 100+MUSD worth of tokens from a single whale.
In NFT space it’s a week as any other. BYAC holders keep getting hacked. NFT projects keep on rugging. And Opensea is like swiss cheese. Apparently 13B valuation doesn’t give you decent support personel.
For good vibes go listen to:
The POW vs POS debate on Bankless
Georgios Konstantopoulous talking about Foundry (Ethereum app toolkit) on Zero Knowledge
That’s it for this week, enjoy the weekend🍸
Welcome to Week in Crypto Drama #3! This week was dominated by big money moves.
The biggest news is clearly the largest ever defi hack, a whopping 600MUSD (173,600 Ethereum and 25.5M USDC) was stolen from Ronin bridge. . CT did what CT is doing best - told-you-so’s and memes were quick to follow:
Sidechains are not L2s, bridges are dangerous, and having a separate validator set is silly.
And “someone” shorted AXS a bit too soon:
I noticed that Axie bridge was exploited for $600m 6 days ago, so I shorted AXS with high leverage I was early. I executed quickly, like the expert traders taught me. Within 24 hours I was liquidated because nobody else noticed the hack for 6 days and the price pumped instead
This week I learned that Fuse blockchain existed. Apparently I wasn’t the only one. I learned about Fuse from our bizdev efforts, CT learned about Fuse from a 4MUSD hack on Voltage Finance lending platform.
Talking about blockchains no-one has heard about. Or at least until the team starts to pump the native token to create the king of all ponzis. Enter Waves.
Another humble 540MUSD of hacked bitcoin from 2014 made some demonic moves.
Big money causes fuss on cosmos ecosystem as well. An airdrop gone wrong made JUNO community a bit pissed. They’re about to confiscate 100+MUSD worth of tokens from a single whale.
In NFT space it’s a week as any other. BYAC holders keep getting hacked. NFT projects keep on rugging. And Opensea is like swiss cheese. Apparently 13B valuation doesn’t give you decent support personel.
For good vibes go listen to:
The POW vs POS debate on Bankless
Georgios Konstantopoulous talking about Foundry (Ethereum app toolkit) on Zero Knowledge
That’s it for this week, enjoy the weekend🍸
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