Cryptonite July-August 2022

the merge is a fork

Its time for Cryptonite - our monthly roundup of all things crypto - with Tejaswi Nadahalli.

You can follow Tejaswi on twitter @nadahalli and he blogs at tejaswin.com

The Merge (ethereum)

Ethereum 2.0 Includes Major Changes That Could End Bitcoin's Blockchain Dominance (computer)

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Killing them softly:

• Enforcement Directorate freezes crypto exchange WazirX's bank balances after search (livemint)

• India Regulator Probes at Least 10 Crypto Exchanges on Money Laundering Allegations (coindesk)

• Rs 370 crore assets of crypto exchange Vauld frozen by ED (indiatoday)

• Shyam Sunder @ShyamNation

  The funny thing is that they are arguing about who *doesn't* own the 💩

  

  Snigdha Sengupta @getsnigdha

  Binance, WazirX ownership row has crypto users in knots https://t.co/ECljUWpqoC via @economictimes

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U.S. Treasury Sanctions Notorious Virtual Currency Mixer Tornado Cash (treasury)

Netherlands Arrests Suspected Developer of Sanctioned Crypto-Mixing Service Tornado Cash (coindesk)

Seth Hertlein @SethHertlein

1/ This week, the US Treasury Dept did something it’s never done before: it sanctioned a piece of code. Weird, right? Actually, it makes perfect sense. Let’s peel that onion!🧅🧵👇

Tornado crop-dusting:

joseph.eth @josephdelong

Someone is out dusting a bunch of wallets from Tornado with 0.1 ETH lmaaaaooooo etherscan.io/txsInternal?a=…

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Michael Saylor steps down as CEO of MicroStrategy, company takes $917 million charge on bitcoin (hindu)

Elon Musk: US ’past peak inflation’ after Tesla sells 90% of Bitcoin (cointelegraph)

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Slope wallet provider saved user seed phrases in plain text (theblock)

Frankie @FrankieBusiness

The Nomad bridge was hacked last week, and around $190 million was stolen. Here is a clear breakdown of how it happened. More importantly, let's discuss what this means for the future of web3. A thread🧵👇:

foobar @0xfoobar

Solana hack - looks like the Slope wallet sent plaintext seed phrases to external integration partners. Compromised Phantom wallets came from seed phrase imports used in Slope. Compromised ETH wallets were also from seed phrase reuse. Not a blockchain or randomness issue.

17 Celebrities Who Received A Warning For Shilling NFTs (nftevening)

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Mom: Son, why don’t you go out and make some friends!

Son: Hold my beer

Shyam Sunder @ShyamNation

He was decentralized

CoinDesk @CoinDesk

Coding as 11 purportedly independent developers, a 20-something computer wiz from Texas created a vast web of interlocking DeFi protocols that projected billions of dollars of double-counted value onto the Saber ecosystem. https://t.co/4qrBvIsvDl

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Remote attestation is coming back. How much freedom will it take? (gabrielsieben)

Markets this Week

Bear market rally? Start of a bull? Who knows?

Meme of the Week

Dare Obasanjo @Carnage4Life

Crypto influencers explaining how a random project by some random startup can give you GUARANTEED higher returns than any bank or the stock market.