Newsletter #394 - Only Up From Here, Right?

Hey Shitcoiners,

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Markets are chopping. The Fear & Greed says 20-something. And the controversy keeps flowing.

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Before we dive into the action from the last week, check out the latest episode of The Shitcoin Weekly. We reviewed the latest shenanigans. It’s endless.

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Quantum isn’t out yet but Project Eleven is paying bounties for a “quantum break”. Suspicious.

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It’s kind of genius when you think about it. Create quantum FUD, send the ecosystem into a frenzy, have a solution lined up, profit.

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Profits were flowing for Mt Gox back in the day but in what goes down in folklore as one of the OG hacks of the space, it wouldn’t end well. Hear the story from the man himself, Mark Karpeles.

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We did not expect crypto to be brought up in the Elon vs OpenAI lawsuit, but alas, here we are. Is most of it a scam?

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WLFI is not doing much to squash those claims. RIP.

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The MegaETH launch has been dragging but we finally have a resolution. With a current FDV of ~1.6B, will it hold? If you are a bag holder, we are praying for you.

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April was one for the history books when it came to exploits. The final nail in the coffin came from Wasabi Protocol. Zach jumped in with a scathing comment.

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We also saw something else interesting happening, unrelated to the Wasabi hack. EVM wallets from several years ago were being drained. Hundreds affected.

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The imagery is damning.

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There has been a coordinated attempt to stop some of the low effort scamming going on in the space. Operation “Tri-Force Sentinel” has taken down multiple fraud centres in South East Asia. Impeccable operation naming there.

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Some government agencies are built different though. According to Durov, those kidnappings in France are due to a tax database leak. It’s not looking good for the future of France.

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The terrible state we are in is all but confirmed when a serial “crypto entrepreneur” (alleged scammer) gets tagged as a “vegan meat mogul”.

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On the topic of characters who have had a run with the law, Avi Eisenberg is back online. We urge you to not engage.

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The state of things when stopping racism means -100%.

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In more positive news, the Steady Lads podcast is back! In their first episode of 2026, they had plenty to run through. We cannot confirm or deny if this is a top signal.

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Ansem is also pushing out some content of his own. The first episode of Market Bubble dropped. The vibe we get is he is more into AI these days. Could this be a bottom signal?

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He sold the pico top. Gg.

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See you next week.

Team Shitcoin.com