There's 1 sector that CZ, Vitalik, & Brian Armstrong are all bullish on:
DeSci
Decentralized Science has been one of the best performing sectors so far this month. And you're still early.
Here's your guide to DeSci (and the top protocols):
CertiK recently identified a series of critical vulnerabilities in @krakenfx exchange which could potentially lead to hundreds of millions of dollars in losses.
Starting from a finding in @krakenfx's deposit system where it may fail to differentiate between different internal transfer statuses, we conducted a thorough investigation with three key questions:
1/ Can a malicious actor fabricate a deposit transaction to a Kraken account?
2/ Can a malicious actor withdraw fabricated funds?
3/ What risk controls and asset protection might be triggered by a large withdrawal request?
According to our testing result: The Kraken exchange failed all these tests, indicating that Kraken’s defense in-depth-system is compromised on multiple fronts. Millions of dollars can be deposited to ANY Kraken account. A huge amount of fabricated crypto (worth more than 1M+ USD) can be withdrawn from the account and converted into valid cryptos. Worse yet, no alerts were triggered during the multi-day testing period. Kraken only responded and locked the test accounts days after we officially reported the incident.
Upon discovery, we informed Kraken, whose security team classified it as Critical: the most serious classification level at Kraken.
After initial successful conversions on identifying and fixing the vulnerability, Kraken’s security operation team has THREATENED individual CertiK employees to repay a MISMATCHED amount of crypto in an UNREASONABLE time even WITHOUT providing repayment addresses.
In the spirit of transparency and our commitment to the Web3 community, we are going public to protect all users' security. We urge @krakenfx to cease any threats against whitehat hackers.
Together, we can face risks and safeguard the future of Web3. #Web3 #Security #Transparency
I will have more to say on this the next few days and I am not a fan of the AMLR, but don’t believe the FUD that is being shared.
Self custody wallets are not banned. Payments to/from self custody wallets are not banned. P2P transfers are explicitly excluded from AMLR, as are self custody software and hardware wallets. However, paying with crypto (for example to merchants) with a non KYC’d self custody wallet will be more difficult/banned depending on the merchants set up. This change, as well as the lower thresholds for anonymous cash payments, has unfortunately been agreed months ago. Not much time now will share more soon.
Why is nobody talking about this?!
Since this small NFT bull market started three months ago, many of the legacy "bluechip" NFTs have been among the worst performing projects in the market.
While many other projects have exploded, most OG projects feel like they are dead: They have either remained static or went down.
In bull markets, the opportunity cost is high and it increasingly feels like most of the former "bluechip" projects have no momentum at all.
There can be many reasons for this.
One is that many teams might have lost all the trust they had in the community.
Another is that market participants might prefer to pursue the new, shiny thing rather than one that is already down -95%.
People who are still predicting a new ATHs for many of these legacy projects should take a close look at these numbers.
The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
I just took the Sorting test and got assigned to the Skyves.
@BloodLoopGAME is an exciting web3 Hero-Shooter game. Their upcoming NFT collection offers a unique gamified airdrop experience.
Take the test and qualify for WL 👇
https://t.co/3Ov5ct3vBG