PSA: “Inscriptions” are exploiting a vulnerability in #Bitcoin Core to spam the blockchain. Bitcoin Core has, since 2013, allowed users to set a limit on the size of extra data in transactions they relay or mine (`-datacarriersize`). By obfuscating their data as program code, Inscriptions bypass this limit.
This bug was recently fixed in Bitcoin Knots v25.1. It took longer than usual due to my workflow being severely disrupted at the end of last year (v24 was skipped entirely).
Bitcoin Core is still vulnerable in the upcoming v26 release. I can only hope it will finally get fixed before v27 next year.
Zhao Plea Agreement:
Zhao will plead guilty to violations of the Bank Secrecy Act (BSA) and other related laws.
He has agreed to a fine of $50 million, which will be credited against payments made to the Commodity Futures Trading Commission (CFTC) if paid by the sentencing date.
Zhao is prohibited from making any public statements contradicting his admission of guilt or the facts established in the case.
Binance Plea Agreement:
Binance will plead guilty to operating an unlicensed money transmitting business, violating the BSA, and conducting prohibited transactions with Iran.
Binance agrees to the facts stated in the plea agreement and commits to full cooperation with the government.
Zhao has resigned as CEO of Binance, and the company has barred him from future involvement in its operations for three years from the date a monitor is appointed.
Binance must enhance its compliance program and appoint an independent monitor for three years.
At the plea agreement's end, Binance's CEO and chief compliance officer must certify compliance with the plea agreement terms.
Binance consents to a fine of approximately $1.805 billion, reflecting a discount for partial cooperation, to be paid within 15 months post-sentencing.
Binance will also pay a money judgment of approximately $2.511 billion, part of which is related to transactions with U.S. users and another part related to transactions involving Iran, to be paid within specific timeframes post-sentencing.
Binance, like Zhao, cannot make public statements contradicting their acceptance of responsibility or the facts described in their respective plea agreements.