DecryptoPal retweeted
After the past several months of folks claiming self custody is dead / too risky, a single exchange hack results in more losses than all the self custody failures this year combined.
teapawt.net/lopp/status/2087892465…
DecryptoPal retweeted
The Binance $5.6B drain is a masterclass in modern EVM exploitation.
It wasn't a complex logic bug. It was an EIP-7702 delegation hijack:
1. Setup: Attacker funds 0x7c86 via Tornado Cash, deploys a sweep contract (0x63e8), and runs three live dry-runs on external wallets.
2. Execution: Attacker submits an EIP-7702 batch with 50 pre-signed authorizations (nonce n to n+49) to hit Binance 14's moving nonce window.
3. One authorization hits. Instantly, Binance 14 (an EOA) is reprogrammed to run the attacker's contract bytecode.
4. Execution looks totally organic: Binance 14 sweeps itself clean. Internal threshold alerts don't trigger because, from the nodes' perspective, the hot wallet is just executing its own transaction.
5. Binance 16 immediately auto-refills 28,000 ETH due to automated treasury rebalance scripts, feeding the exploit loop.
The cold truth: you cannot forge an EIP-7702 delegation list.
For this to execute, the attacker already held the raw private key or unconstrained signing access to Binance 14's HSM/KMS.
But hey, 5.64 billion drained across ETH, BTC, and Tron. 2.54 billion frozen by Tether, Circle, Ripple, and World Liberty within hours.
Code is law until the stablecoin admin keys log in.
Binance got bailed out by the very centralized choke points the cypherpunks warned you about.
Hardware wallets leak your home address.
Centralized exchanges leak the keys to the kingdom.
Self-custody on native, non-delegated chains remains the only honest baseline.
At least you know what to avoid.
DecryptoPal retweeted
Ordinals is too “crypto” for ancient Bitcoin whales who only spend sats on guns, steak & Coldcards; and too “Bitcoin” for crypto degens who'd trade decentralization for a pump-fun runner.
The few who do get it: true collectors, artists, first-principles thinkers, technologists.
DecryptoPal retweeted
The internet should help us find our people. Friendship. Community. A place to belong.
Help me bring Orkut back in that spirit. Add your name at orkut.com and share your supporter card with someone you want to bring along.
Love,
Orkut
DecryptoPal retweeted
These aren't NFTs.
They're offchain IOUs in a central party's private DB.
You cannot replicate the state with a node or transfer without central party approval.
If that's not your thing, there's always Bitcoin Ordinals on ord.net ⚡️
ZILKROAD // A COLLECTOR’S GUIDE_
Ahead of the opening of Zilk Road, we’ve prepared a guide to collecting, trading and managing zkSNARKs.
Pay directly with shielded $ZEC or use supported assets from other chains through Aurora Intents.
Every trade settles in ZEC.
DecryptoPal retweeted
Summary: if you have hot wallets in Chrome extensions and get any kind of malware they can just sweep the seed phrases from any extension wallets you have and all your passwords etc.
If you have any form of sync on in Chrome this will sync across to your other devices.
DecryptoPal retweeted
We've been putting in the work on ord.net to prevent scam bids, fat fingers, accidents, and more.
Individual offers must now match the top collection or trait offer, significantly cutting down on bot activity 🤖
DecryptoPal retweeted
BITCOINERS: DO NOT SCAN THIS QR CODE
The IRS is warning that scammers are mailing fake, official-looking IRS letters to cryptocurrency holders directing them to a bogus “Digital Asset Compliance Portal.”
The letters include a QR code leading to a fake IRS website that may ask for personal information, wallet details, exchange credentials or other sensitive data.
The IRS says it does not operate a “Digital Asset Compliance Portal” and did not send these letters.
Coinbase and DarkTower reportedly traced infrastructure behind the campaign to a recently registered domain hosted in Romania.
If you receive one, do not scan the QR code or provide any information.
H/t @CryptoTaxFixer
DecryptoPal retweeted
Running a collection offer rebate experiment on ord.net for the rest of August.
Get 1.5% back when your collection or trait offer fills.
DecryptoPal retweeted
Already cooking with my TG channel.
Just secured 10 free mints for @0xNTRPY
Will be given away in my TG channel 👇
Just made my TG channel public.
Anyone that wants to ride along, join up.
Will close it soon btw ⏳
t.me/DegenPlayhouse
DecryptoPal retweeted
The memecoin data is out and it’s worse than anyone thought.
Out of 292,531 traders, only 6% made any profit at all.
88% of those in profit made under $100.
Only 25 wallets made over $10K…
The rest lost $1.26 billion combined.
Nobody is winning in memecoins. Literally nobody.
Since no one was keen on answering this question, I've took it upon myself to build a PUBLIC Dune query which uses FOMO's fee router in order to calculate the total profitability of all active FOMO traders (SOL) in the past 90 days.
The numbers:
> Out of the 292,531 wallets traded through FOMO in the last 90 days, 18,033 of them are in profit.
> Only 6.16% of ALL traders in the last 3 months were profitable.
The median trader is down ~$120. As a group they are down $1.26 BILLION. Of the 6% who are green, 88% made under $100. Only 25 out of 292,531 wallets made more than $10K
Query is public and linked below:
dune.com/queries/8354772
For reference, a "wagering platform" such as Rainbet with a 1% house edge sits at ~37% user profitability over the same time span.
DecryptoPal retweeted
Just made my TG channel public.
Anyone that wants to ride along, join up.
Will close it soon btw ⏳
t.me/DegenPlayhouse
DecryptoPal retweeted
The funniest thing just happened.
Justin Sun is going absolute BEAST MODE on Coinbase, Binance and Hyperliquid's AML mechanisms.
He is DUSTING everyone who interacted with Coinbase, Binance or HL before with a few USDT from HTX.
HTX is under sanctions in the EU and the UK since May 26th - any owner of an address that received money from it in the past 3-4 months received a freeze from Coinbase until they show "proof" that they weren't using a blacklisted financial entity.
Binance announced it will restrict deposits and withdrawals involving 11 platforms including HTX from 23 August - so clearly this is in retaliation.
By doing this now - Justin Sun is basically forcing the hand of Coinbase and Binance, and regulators in the EU (which CB/Binance always lobbies) to legitimize HTX as a real business entity.
Or end up with thousands of pissed off users.
Only in crypto.
