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The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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If someone gave you $$200 in cold hard cash right now, you be smiling.
But imagine seeing 0.1 ETH (~$200) pop up in your crypto wallet from Tornado Cash.
You might have just broken the law and committed a crime.
Who’s the bad boy now?
So apparently the U.S. Department of the Treasury says that Tornado Cash has been a bad boy for letting hackers launder stolen money using their services.
They stated that “Tornado Cash had laundered $7B worth of cryptocurrencies since its inception in 2019, including $455M stolen by North Korea’s notorious Lazarus Group.”
More importantly, it was because Tornado Cash was used by North Korean’s largest hacking group recently.
And the US isn’t too happy about it.
So they did the most American thing they could.
Tornado Cash has been a bad boy?
Nobody else in the playground will get to play with him.
If anyone plays with him, they would have broken a law and will be subjected to harsh penalties (although specifics were a bit vague on this).
Simply put, they imposed restrictions on Tornado Cash and banned all US citizens from using it.
I am intrigued as to how they will monitor users and enforce the ban.
Now Dutch police has arrested one of the key developer of Tornado Cash.
And many companies have started banning users who have been linked to Tornado Cash.
Want to see something cool?
This is the list of high profile individuals/companies who just received funds from a Tornado Cash user:
Jimmy Fallon
Shaquille O’Neal
PUMA
Randi Zuckerberg
Logan Paul
Brian Armstrong
Steve Aoki
Ukraine Crypto Donation
Dave Chappelle
Beeple
Snoop Dogg
Essentially, the anonymous user sent 0.1 ETH to these celebrities and big brand names.
It kind of means that these recipients are all breaking the law too, even though they had no clue.
In web3, wallets are a little different.
Yes, you can send cryptocurrencies directly to someone’s wallet without needing their permission and knowledge at all.
Yes, I do realise that it is a wonderful and scary thing.
Awesome to wake up and have free money in your wallet one day, but knowing that it means you probably have broken the law is also nightmarish.
It does present an interesting dynamic in web3 when it comes to wallets.
When bad actors send you money without your knowledge, how can you prove that?
You can’t stop it, so how can you prevent it?
These are all critical questions that needs to be wrestled with before great mainstream adoption can take place.
I am all for web3 and crypto, but wallets (sending/receiving crypto) needs to be vastly improved before adoption truly takes off.
The thought of being able to completely lose your entire net worth in a blink of an eye with a misspell or typo, is simply too great a risk for anyone.
-
Do we need services that hides transactions like Tornado Cash?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #eth #btc #crypto #hackers #wallets #tornadocash #celebrities #annonymous #annon #lawbreaking #northkorea #lazarusgroup
If someone gave you $$200 in cold hard cash right now, you be smiling.
But imagine seeing 0.1 ETH (~$200) pop up in your crypto wallet from Tornado Cash.
You might have just broken the law and committed a crime.
Who’s the bad boy now?
So apparently the U.S. Department of the Treasury says that Tornado Cash has been a bad boy for letting hackers launder stolen money using their services.
They stated that “Tornado Cash had laundered $7B worth of cryptocurrencies since its inception in 2019, including $455M stolen by North Korea’s notorious Lazarus Group.”
More importantly, it was because Tornado Cash was used by North Korean’s largest hacking group recently.
And the US isn’t too happy about it.
So they did the most American thing they could.
Tornado Cash has been a bad boy?
Nobody else in the playground will get to play with him.
If anyone plays with him, they would have broken a law and will be subjected to harsh penalties (although specifics were a bit vague on this).
Simply put, they imposed restrictions on Tornado Cash and banned all US citizens from using it.
I am intrigued as to how they will monitor users and enforce the ban.
Now Dutch police has arrested one of the key developer of Tornado Cash.
And many companies have started banning users who have been linked to Tornado Cash.
Want to see something cool?
This is the list of high profile individuals/companies who just received funds from a Tornado Cash user:
Jimmy Fallon
Shaquille O’Neal
PUMA
Randi Zuckerberg
Logan Paul
Brian Armstrong
Steve Aoki
Ukraine Crypto Donation
Dave Chappelle
Beeple
Snoop Dogg
Essentially, the anonymous user sent 0.1 ETH to these celebrities and big brand names.
It kind of means that these recipients are all breaking the law too, even though they had no clue.
In web3, wallets are a little different.
Yes, you can send cryptocurrencies directly to someone’s wallet without needing their permission and knowledge at all.
Yes, I do realise that it is a wonderful and scary thing.
Awesome to wake up and have free money in your wallet one day, but knowing that it means you probably have broken the law is also nightmarish.
It does present an interesting dynamic in web3 when it comes to wallets.
When bad actors send you money without your knowledge, how can you prove that?
You can’t stop it, so how can you prevent it?
These are all critical questions that needs to be wrestled with before great mainstream adoption can take place.
I am all for web3 and crypto, but wallets (sending/receiving crypto) needs to be vastly improved before adoption truly takes off.
The thought of being able to completely lose your entire net worth in a blink of an eye with a misspell or typo, is simply too great a risk for anyone.
-
Do we need services that hides transactions like Tornado Cash?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #eth #btc #crypto #hackers #wallets #tornadocash #celebrities #annonymous #annon #lawbreaking #northkorea #lazarusgroup
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