The easiest way to get caught up with blockchain & crypto news - delivered straight to your inbox every Friday. Get entertained while learning something new.
Probably the most important article you'll read all year, by @omeraziz12 in the @globeandmail
Canada is in serious trouble, and Aziz hits the nail on the head on the causes:
- Deep incompetence by politicians, who resort to PR management over making decisions. Parliament is deeply dysfunctional, with Question Period a joke, and committee hearings a farce. Trudeau but also the provincial premiers have much to answer for. Many of our leaders come from legacy wealthy backgrounds and have absolutely no idea how difficult they've made life for Canadians.
"What I realized soon thereafter was that this country was witnessing a systemic political failure, a complete inability of politicians to get change done in ways that manifested at the dinner table. An extreme form of PR and image-management had begun to take over delivering on policy in concrete ways − and the entire country was noticing. Nor was this an accident, the unfortunate consequence of polarization or inequality, but the deliberate result of multiple policy failures − as well as failures of will."
"Normally, in a democracy, social ills can be addressed by public officials. But Canada’s own political institutions have been riven by corruption and personal ambition. And now also potentially by foreign influence. Each controversy and scandal leads people away from crucial time and policy attention that could have been spent on fixing the country’s major issues. At the parliamentary level, most members of Parliament are so frightened of speaking for themselves that they are rendered powerless. This defies the very essence of the British parliamentary system, upon which Canada’s system is based, which empowers MPs to speak on behalf of their constituents and represent their true voice in the people’s chamber."
- Inattention to rising crime, especially rampant car thefts, a revolving door criminal justice system, neglect of the opioid crisis. We have the laxest justice system in the Western world. Causing someone's death will get you a 6 month sentence in one prominent example. America had mass incarceration, we have mass leniency.
"At some point, one would think that the deaths of so many innocent and vulnerable people would elicit outrage − yet life goes on as normal. Each life is precious, and when violent criminals get off easy, or without punishment at all, they learn the terrible lesson that this country does not take its own laws seriously, so why should they? When the law loses its power to deter crime, either because of prosecutors not moving forward with cases, or because of a general laissez-faire attitude toward violent crime happening in other neighbourhoods, it is the marginalized who are harmed most."
- Rising housing costs that has made nearly everyone, including me, to paraphrase A Bittersweet Symphony, a slave to massive mortgages until they die, or they are perennial renters.
"For many Canadians, the cost of living has become unaffordable. The average price of a house in the GTA is $1.1-million, and Metro Vancouver is around the same. There are certainly cheaper places to live, but the average cost of a rental in Canada has reached record highs − more than $2,100 a month. According to one major study, Canada needs to build an additional 3.5 million homes by the end of the decade and is currently only building around 200,000 a year."
- Violation of the social contract on immigration.
"In Canada, the social contract for years allowed more immigration to grow the economy, but this came with stringent criteria for who should be admitted. Today, there are more than 900,000 international students in Canada, a 170-per-cent increase over the past decade. Some of these students have been scammed by for-profit colleges. Others have been affiliated with fake schools, using their student visas as loopholes in the immigration system. The social system was unprepared for such an influx, though certain institutions benefited: colleges and universities got more fees; politicians touted rising immigration numbers; the landlord class got an endless supply of perpetual renters. Without any housing available, this has left the country unprepared to deal with multiple, overlapping economic and social crises."
Aziz asks What is the Canadian dream?
"It was a promise − less individualistic and gun-friendly than the American version, but no less ambitious. To me, the dream promised that every person here could have a decent shot at life, one that was better than that of their parents. There was emphasis on community and a strong focus on order and good government. The compact included the payment of higher taxes, and in exchange, the existence of world-class social institutions delivering for ordinary people. The immigration system worked because the same contract existed with immigrants − that they would work hard, play by the rules, become part of Canadian society through legal means, and in return, would become citizens of a highly functioning democracy where a good life was, if not guaranteed, then within reach.
The dream was based on fairness, on merit, on policies that worked. It promised breathable air and the bountiful resources of the second-largest country on Earth. It promised the principle of equality of opportunity, promised safety and peace and responsibility. It promised leaders who put the national and long-term interests of the country above their own partisan needs. The dream now feels like it’s on life support."
Amen
My experience with the FBI: a wake-up call to public-facing crypto people.
“Hey, are you Alexandre Masmejean, CEO of Showtime Technologies, Inc? This is the FBI calling in from Los Angeles.”
Last week I had a very strange call that surprised me so much I didn’t know whether I was in trouble or speaking to a scammer. Turns out both of these predictions were wrong.
I was the target of Asian cybercriminals who got a malware running on my computer, I was told, and was strongly encouraged to turn off my WiFi, rotate my wallets, change all my passwords, move my files to a hard drive and entirely wipe out my compromised MacBook.
The two FBI agents on the line seemed serious, but I couldn’t tell if it was real intelligence officials or scammers pretending to “protect” me. Regardless, I immediately realized one mistake I had made that could potentially fit the bill:
Three weeks prior to this call, a Telegram user “Chao Deng” “@/chaodeng” claiming to be from the known fund Hashkey signaled interested in investing in Showtime. I somehow remembered that fund name and thought nothing more of it. Long story short, that impersonator refused to join my Google Meet and proposed me to chat via a VPN-friendly “alternative” video link, which contained a script that I ran, like an idiot, in an effort to not be late.
“That sounds like a typical attack”, the FBI admits as I recount the conversation. My trust in them grew. They asked to call me back with the Telegram handle of the attacker.
But my crypto friends were skeptical. “Dude, you’re getting scammed”. One of them, who was also backed by Paradigm before, told me to reach out to samczsun.
My chat with samczun was brief. If my so-called FBI agents only called me to tighten my security practices, it could never hurt, Sam said. After telling Sam the full story, they said “I could see it” and advised me to call back the FBI to confirm their legitimacy, which I did.
I called back the number who called me. The agents gave me their full name and phone, which was matching their caller ID. They told me to call the FBI LA office and check with them, saying I could even ask to be transferred right back to them if I asked. So I did.
I google’d “FBI Los Angeles” and call the number on there. I open with “two FBI agents just called me, is this real?”. Like me, the lady on the line was suspicious but asked for more details. She shortly matched my surprised mood. “Oh yes, they are working with us on cybersecurity investigations. The contact details are matching. You have indeed been dealing with us”. So I wasn’t credulous, and the Telegram hackers truly infected my computer.
That’s it. After a laptop hard-reset and passwords/keys rotation, I was safe again. Fortunately, most of my funds were in hardware wallets, and I lost nothing.
Unfortunately, I also warned by another technical figure in crypto that beyond money, I should assume all of my data has been compromised, which is how the FBI identified me. The agents say hackers may contact my family, colleagues and friends, and I should warn everyone, which is why I’m writing this post.
Takeaways:
- if you are guilty, the FBI shows up IRL. But if you are a target like I was, the FBI may call you. It’s not always a scam.
- Never install any software on your computer from someone you don’t know. I feel so dumb typing this.
- Hardware wallets are safe. My @Ledger likely saved my personal and company funds.
⚠️ May this be a wake-up call to audit and/or upgrade your opsec before the bull market comes.
The public may be safer soon with Account Abstraction smart protections, but crypto professionals still use Far West tools, have enough money to attract villains, and can see their opsecs quickly degrade if not rigorous.
Thank you to the FBI; @samczsun@snarkyzk@eddylazzarin for the quick help + @hosseeb for pushing me to write a post-mortem. Stay safe.
PS: the FBI advised me to share this.
We've had an uptick in usage in Eastern Europe & rumors are circulating that Signal is hacked & compromised. This is false. Signal is not hacked. We believe these rumors are part of a coordinated misinformation campaign meant to encourage people to use less secure alternatives.
@Coinsquare @werethless12 Why no love for the main Coinsquare platform?! Seems odd to only offer those coins thru quick trade but not for those who take advantage of the advanced trading features of https://t.co/6McN2iMfHU.
@Coinsquare @ImTheSoulWeeper So is the main trading app abandonware? Seems odd to keep pushing quick trade when there are no advanced trading features built in. Is it the fees ya’ll love to collect?
@J96933838 I think we all know who bought said BTCs at $35k.
FA: “Ok, so I recommend selling 2 BTCs for $35k/each. You can send them to this wallet address <pulls out hardware wallet>...”
⚠️ Be aware that https://t.co/5L5C1sgMgx is impersonating our website.
NEVER share your 24 words with anyone - Ledger will never ask for these.
Learn more here: https://t.co/F9m9hCxyH6
Kraken is one of the largest and most successful Bitcoin exchanges in the world and they're growing faster than ever.
Check out their open roles – option to work remotely – and apply today to join the team.
https://t.co/MdbzwDGZSR
WARNING: we’ve detected a malware that locally replaces the Ledger Live desktop application by a malicious one. Users of infected computers are asked to enter their 24-word recovery phrase after a fake update. Please refer to our security best practices https://t.co/MlAUlgoqj9