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So, here’s what we have for you today :
Saylor sails towards the ocean 🌊.
Solana hacker house indeed 🚨.
$200 million exploit by a crypto-bridge
Meme of the day
Saylor sails towards the ocean 🌊.
On the 3rd of August, Michael Saylor, Co-Founder of MicroStrategy Inc. resigned from his CEO title and said he’ll what he does the best: “focus more on Bitcoin” 🚀.
What could be the reason?
On 2nd August 2022, Microstrategy Inc. put out a press release of the Earnings, and apparently, they reported a loss of more than $1 billion all of it related to the second-quarter plunge in the price of the cryptocurrency.
The tweet below has the press release 🧵 :
This is what Michael says:
I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives.
So, Saylor will continue to serve as executive chairman and follow a BTC maxi buying strategy 🚀.
Also, Who’s next?
MicroStrategy President Phong Le will take over as the CEO.
Solana hacker house, indeed 🚨.
Oh my god, one more hack?
Crypto exploits have become common these days! That said, there was a crypto exploit recently and the Solana ecosystem is the victim, yet again.
Over 8,000 Solana wallets have been drained so far. Several Solana addresses have been linked to the attack (1, 2, 3, 4), and all those wallets had at least $5 million worth of SOL and other Solana - based tokens in them.
The source of the attack is still unknown, and it seems to have impacted mobile wallet users predominantly.
What did the attackers do?
The attackers somehow obtained the ability to sign transactions on the behalf of users 💸.
The thread below can be of help if you were one of the victims:
Also, we recommend all the Unbankers to disconnect your Solana wallets from any sites and move your assets to a hardware wallet ASAP, GO!
$200 million exploit by a crypto bridge - Nomad
Hackers are like, “why pickpocket when we can ROB the banks easily 🤷♂️ ?”
On Monday, Nomad - A cross-chain bridge that allows users to send & receive tokens between different blockchains was attacked or more likely exploited.
Imagine, you could just get $SOL or $USDC just by taking the completed transaction & just replacing the receiver's address with your wallet address and the money will land up in your wallet. Simple, you just got free money without any coding or technical knowledge 💸 .
This is what exactly happened with Nomad, where the retail investors were the culprit.
@samczsun, a researcher at crypto investment firm Paradigm has given the complete details about the exploit.
Meme of the day
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