We're excited to announce a $4M Seed round led by @GameChangersVC, with support from incredible investors including @scooterbraun, @GuyOseary, @stellation, @SignalFire, @MaCVentureCap, and others.
A few years ago, while hosting community events and testing early products, my co-founders @WeilynChong, @NathanAhn, and I noticed a consistent pattern.
After every event, people asked the same questions:
Where are the photos? Who captured that moment? How do I reconnect with the people I met?
https://t.co/hxhuPkNM3O
@jennsun The feds don’t want you to know this but @jennsun and @chrissyykat are actually one person named “Jenstine” and they pull an illusionary trick to look like twins by moving back and forth really fast
Introducing: @Creatorgenapp, the most realistic AI influencers ever (yes this video is AI).
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Bybit Hack – A Masterclass in Crisis Management
Bybit faced one of the most significant hacks in crypto history. Yet, they stayed fully operational, processed all withdrawals, and proved their financial stability. Their swift response and commitment to transparency set a new benchmark for crisis management in the industry.
Security is about minimizing risk, but some attack vectors remain hard to anticipate until they occur. Yesterday’s incident underscores that operational security is often the weakest link.
Lessons from Bybit’s Response:
- Rapid Incident Containment – Bybit quickly identified that only the signing process for one cold wallet was compromised due to UI hijacking.
- Withdrawals Remained Fully Operational – Over 350,000 withdrawal transactions were processed in just 10 hours, with 99.994% successfully completed, demonstrating Bybit’s liquidity strength.
- Leadership – @benbybit provided real-time updates, openly communicating with users and addressing concerns immediately.
- Transparency - @Bybit_Official helped to reduce confusion regarding the security incident and provided useful information for professionals to quickly assist.
- Proven Financial Resilience – Bybit’s regularly audited Proof of Reserves reassures users that funds are secure and fully backed.
Kudos to the Bybit team for their resilience, transparency, and professionalism.
The adversaries targeting crypto companies are getting even more sophisticated, and companies managing high-value assets should increase their efforts for operational security, particularly for multi-signature operations. This includes not just centralized exchanges but also DeFi projects, L1s, L2s and bridges that use multisigs.
Quantstamp recommends the use of isolated devices, air gapped signing systems, regular opsec audits, as well as training for signers and team members, especially preparedness against social engineering attacks.
DePIN projects today are siloed. By enabling DePINs to communicate with each other, massive innovation and value can be unlocked.
WitnessChain is the pioneering DePIN AVS on @eigencloud - building the DePIN coordination layer \^/
We are pioneering a unified economy where DePINs converge on a common platform, enabling shared value creation. Our Actively Validated Service (AVS) on @eigencloud serves as the bedrock of this transformative vision. Imagine a future where DePINs can share value, bootstrap infra, and get access to better financial instruments!
WitnessChain enables coordination among #DePINs by providing a common platform and establishing consensus on their physical state. Through mechanisms like Proof of Location, Proof of Bandwidth, and more on the horizon, we empower seamless collaboration.
These proofs are critical enablers in ensuring coverage and utilization. They will also lead to mapping demand and guiding DePIN’s hardware expansion. By utilizing breakthrough proof systems to prove location and bandwidth capacities, DePIN projects can achieve better discoverability, bootstrap their economy and get access to critical financial instruments.
We're developing a platform that's open and extensible, allowing DePIN contributors to eventually add their own proofs. This will expand verification and composability to encompass a wider range of physical parameters.
WitnessChain isn't just an enabler of collaboration; it's a catalyst for innovation. WitnessChain’s in-house project: Rollup Watchtower Network exemplifies this ethos. The rollup watchtower network in itself is a decentralized physical network of staked Ethereum validators - ensuring that validators actively validate Rollup state commitments and serve as the first line of defense for rollups.
We are just getting started. With the final phase of Rollup Watchtower testnet live with a stellar set of EigenLayer operators - we’re set to launch it on mainnet in April 2024. Keep an eye out for the upcoming incentives program to participate in the unification of DePINs with #EigenLayer!
Join our Discord 👉https://t.co/SGaIJmrDhz
Visit our website 👉https://t.co/D0O33nQf0G