2023-08-24

🧳 Insider Spills Alameda's Dark Secrets!

August 24, 2023

Howdy Folks,

So, a crypto hacker confessed to their therapist that they've been stealing other people's Bitcoin.

He says it was his first cryptomaniac! 🤣🤣

🛒 Solana's Big E-Commerce Move
🎭 More FTX Drama Unveiled
🏴‍☠️ Hackers' Treasure Trove?

👋 Shopify Welcomes Solana Pay for Crypto Transactions

Shopify, the e-commerce titan, is riding the crypto-wave.

With its recent integration of Solana Pay, customers can now process payments using the stablecoin USD Coin (USDC).

I hope Solana doesn't need a reboot! 🤦This integration enables the digital marketplace to tap into Solana-based crypto-wallets, settling payments with merchants on-chain.Patrick Hansen (Circle’s Director, EU Strategy & Policy) states this integration slashes the average transaction cost to a mere $0.00025.That's a vast improvement compared to the usual 1.5% to 2.5% credit card fees.Solana Foundation's Business Development Manager, Josh Fried, said, “Solana Pay on Shopify provides merchants a cost-effective payment option, while shoppers reap the benefits of using digital dollar currencies.”

Web2 to Web3.... You know the drill! 😉

Ex-Alameda Engineer Breaks Silence on SBF Saga

Aditya Baradwaj, once an integral part of Alameda Research, has stepped forward, shedding light on his tumultuous journey with the infamous Sam Bankman-Fried's investment firm.Imagine Cinderella, but the fairy-tale ending takes a sharp, unexpected turn.

In a recent series of X (formerly known as Twitter) posts, Baradwaj says, "Sam Bankman-Fried took away my life savings."His disclosure paints a dark narrative against the backdrop of FTX's shocking collapse.

Starting at Alameda, Baradwaj remembers it as a quaint "crypto trading firm," with whispers of its existence prevalent among the Berkeley University corridors where he was a student.On his inaugural workday, the aura of Bankman-Fried, multitasking between a call and a game of League, stood out.Wow, professional! 🤡

Baradwaj paints a picture where FTX and Alameda weren't just two peas in a pod but essentially the same pod.Yep...what we all just assumed anyway...💩One evening, over slices of pizza, Bankman-Fried dropped the bombshell of moving operations to The Bahamas, pointing out that FTX's earnings surpassed 10% of the island's GDP.It's like a school kid claiming to buy out the candy store - doubtful at first but surprisingly accurate!Something about building houses on sandy foundations fits well here! 🪣

During his tenure, Baradwaj felt he was in a cinematic universe: luxury travel, rubbing shoulders with elites, and ambitious plans like Bankman-Fried's grand vision of eradicating Malaria.Delusions of grandeur, maybe...🤴But behind the glamorous facade lay concerning cracks: sloppy risk management, technical shortfalls, and alleged reckless financial dealings.

The drama intensified when Bankman-Fried, previously under house arrest, was incarcerated due to allegations of intimidating a critical witness, his ex-partner Caroline Ellison, in the upcoming trial.Not cool, Sam. Not cool!

⚠️ FBI Alerts Crypto World: North Korean Hackers' $40M BTC Dump Imminent

The FBI has alerted cryptocurrency investors about North Korean hackers' intentions to release a substantial amount of stolen Bitcoin (BTC) into the market.

The FBI's recent press statement identified specific wallet addresses linked to the North Korean cybercrime group known as TraderTraitor or Lazarus.They've recently detected these hackers moving hefty sums, potentially gearing up to drop a cool $40 million worth of stolen Bitcoin (BTC) into the unsuspecting market.Great, that'll make it easier to convince the crypto naysayers! 🤬In a press release, the FBI outlines the intricate web woven by this group.The dark exploits of TraderTraitor include massive crypto heists from big names in June, like AlphaPo ($60 million), CoinsPaid ($37 million), and Atomic Wallet ($100 million).Other entities caught in their web include Harmony's Horizon Bridge and Sky Mavis' Ronin Bridge.

In their statement, the Bureau makes it clear that their eyes are firmly set on North Korea's (DPRK) activities, “The FBI will persistently challenge and curtail the DPRK’s illicit ventures, which includes cybercrime and virtual currency theft, as they aim to fatten their coffers."I'm sure the truth lives somewhere on this spectrum...of course, we'll never know where...it is a shady spy world after all! 🤬