Newsletter #202 - Bullish Hacks?

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Yo Shitcoiners,

Hackers have a habit of kicking market participants while they’re down. This week was no exception. One of the biggest stories this week was a private key compromise on Solana. Thousands of wallets were drained of SOL and SPL tokens leaving many REKT.

The draining was only limited to web3 wallets though as Solana Status reported. To get to the bottom of it, the Solana ecosystem turned to a tried and tested investigative method - a survey!

Solana has been riddled with downtime and many immediately pointed fingers at the blockchain. Turns out it wasn't their fault though.

If you are ready for a lesson in terrible OPSEC, look no further. Slope screwed up after sending plaintext seed phrases to external integration partners.

The postmortems are coming out now and things were looking very slippery over at Slope. Welcome to amateur hour!

The Solana news took over our Twitter timelines but just a day earlier, it was all Nomad. The popular bridge became the crime scene of a crypto looting, leaving the bridge $150M+ in the red. The worst part? It wasn’t just one hacker, it was a free-for-all.

If you're interested in how this could happen, this thread is for you.

If any of you took some of those funds, you can send it back and keep 10% for white hat status.

While the crypto flowed out of Nomad, Niagara Falls residents were pissed that they can no longer hear the flow of the largest waterfall in North America.

To ETH! Here's a lesson in not blindly following your favourite CT influencers. You have been counter-traded!

There has been plenty of talk about ETH2 and a possible fork. Do you have a merge trading strategy in place? Here's a good read from BitMEX.

The folks over at Galois Capital are ready to help both sides with a plan. It'll cost them though.

Vitalik chimed in.

Wondering where Galois Capital gets his inspiration? Stubborn turds.

It's time to break this up with a photo of CZ looking like he's auditioning for a Marvel movie.

We will patiently wait for SBF to recreate that image but in the meantime, FTX have been busy in Dubai!

In other exchange news KuCoin have started an Anti-FUD Fund. Will the fund be going towards their own efforts to prove they aren't insolvent?

Speaking of REKT, Babel Finance lost a big chunk of change.

As did Voyager but supposedly they have a plan to make creditors whole.

When you spend enough time in crypto you see through yields that feel too good to be true. You can throw all of that out of the window though when Justin tells you he's propping up the APR.

That APR has striking similarities to this next non-crypto interaction.

Speaking of faking it till you make it, here's the story of one developer who fooled a whole ecosystem.

We end this with some wholesome content. What's a selfie?

And one guy from CT getting his Dad the care he needs thanks to inversebrah!

That's all for this week. Follow Andreas on Twitter and stay up to date with us @Shitcoindotcom too. See you next week!


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