Sorry to say,
Lazarus Group might be the hardest working security researchers in Web3.
Other security auditors charge $70K+ to find vulnerabilities.
Lazarus finds them for free by compromising the people, keys, multisigs and interfaces around the contracts.
Their Resume:
• Bybit: $1.5B
• Drift: $285M
• Bitget: $350M
• WazirX: $235M
• KelpDAO: $292M
• Ronin Bridge: $625M
• DMM Bitcoin: $308M
And many more.
Three weeks ago @GabeOtte called @OndoFinance's stock tokens "indisputably worse for the end investors than even common stocks."
Today he doubled down with Ondo on the call and Peter Curley gets a chance to respond.
Full exchange 👇
ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3 topped at 2$ before i think theres room to grow i see people talk about how this would have blasted to 10$ in previous seasons but people don’t understand that capital is going to enter crypto but the speculative markets can’t be like a memecoin market
@Felixonchain Because theres 50 coins 20 rugs 20 bundles 10 sniped u just buy the first one u see or the one with the highest marketcap and hope for the best
My memecoin / rugpull investigations will now not only include onchain data but also offchain data with a full report on all twitter accounts promoting said rugs
(with screenshot evidence backed up)
The goal is whenever a new project pops up, you can just scan the DB and see how many of the "usual suspects" are promoting a coin to give you a good idea of how likely it is to be a scam
Or to be able to see what are the worst offenders (read: serial scammers)
I’m exposing the fomo cabal and the stonk cabal on how they are all extracting millions a day.
Step 1 - launch a low effort token on Stonk with 3% tax. (3% tax is key here it’s how they maximize extraction)
Step 2- use a tool to bundle 80% (bundling 80% guarantees that they will maximize profits from tax fees. This is how stonk auto sell bot generates them revenue because they receive 3% tax on their 80% bundle)
Step 3- Pay fomo KOLs to publicly call their token from the 80% bundle or from fees collected from the 3% tax. (This is the important part without callouts on fomo these tokens would never get attention. Most top fomo traders make sure to support each other bundles. They will never support yours)
Step 4- After the stonk token volume goes up from callouts on fomo and X shills they start slowing pulling the bundle to the tune of multiple 6 figures a day. (This isn’t even including 3% per tx fee going to their 80% bundle. The trenches will not last if you continue to let a small group of people make millions a day while everyone else loses)
When people think about tokenisation they tend to think about trading Apple on a Sunday, instant settlement, 24/7 markets... That's one tiny piece of it.
The bigger story is that everything becomes a token, and the whole economy gets rebuilt around it. https://t.co/TE4LmgrkYs
Bundled coins snipers etc are just the side effect of not letting the team control the supply but also if theres anyone whos been in crypto for a while especially before the launchpad era they will remember how teams used to rug tokens etc it used to be very wide spread until launchpads made launching coins easy and removed intial supply for the team theres no way to solve this issue