# Week in Crypto Drama #3

By [0xKΞRM4](https://paragraph.com/@0xk-rm4) · 2022-04-01

---

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.](https://twitter.com/Ronin_Network/status/1508828722085867521?s=20&t=FGuwo8CjhZhygormUf3Baw) . CT did what CT is doing best - told-you-so’s and memes were quick to [follow](https://twitter.com/Tetranode/status/1508847793221566464?s=20&t=FGuwo8CjhZhygormUf3Baw):

> Sidechains are not L2s, bridges are dangerous, and having a separate validator set is silly.

And “[someone](https://twitter.com/cobie/status/1508844556649132033)” 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](https://twitter.com/DegenSpartan/status/1509402688165150721?s=20&t=_TlbHIJdGhfaByD9wo9pSg). I learned about Fuse from our bizdev efforts, CT learned about Fuse from a 4MUSD hack on [Voltage Finance](https://twitter.com/ola_finance/status/1509431464521256961?s=20&t=PmMtGuhe6AeFinvJ7xiDhg) 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](https://twitter.com/0xHamz/status/1509581295621451779?s=20&t=_woBT2p9vm9quP1baifoEg).

Another humble 540MUSD of hacked bitcoin from 2014 made some [demonic](https://twitter.com/WuBlockchain/status/1509051024350228485) 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](https://unchainedpodcast.com/juno-holders-want-to-confiscate-a-whales-tokens-heres-why/) 100+MUSD worth of tokens from a single whale.

In NFT space it’s a week as any other. BYAC holders [keep getting hacked](https://twitter.com/zachxbt/status/1508550760031834117?s=20&t=wyw4lj5P7a4r_OhMe17xDg). NFT projects [keep on rugging](https://twitter.com/zachxbt/status/1509565462727827466?s=20&t=_woBT2p9vm9quP1baifoEg). And Opensea is like [swiss cheese](https://twitter.com/mr0chill/status/1508704988024881152?s=20&t=EDOkPvNuWK6crYFhNTrLkQ). Apparently 13B valuation doesn’t give you [decent support personel](https://twitter.com/mr0chill/status/1508841385302003715).

For good vibes go listen to:

*   The POW vs POS debate on [Bankless](https://overcast.fm/+YNeS158ek)
    
*   Georgios Konstantopoulous talking about [Foundry](https://book.getfoundry.sh/) (Ethereum app toolkit) on [Zero Knowledge](https://overcast.fm/+LQLwVqEi4)
    

That’s it for this week, enjoy the weekend🍸

---

*Originally published on [0xKΞRM4](https://paragraph.com/@0xk-rm4/week-in-crypto-drama-3)*