Generally stealing crypto is the ethical selection

Generally stealing crypto is the ethical selection

Picture credit: TechCrunch

The world of cryptocurrency strikes quick, and typically when a heist is underway, the most effective factor for technically savvy however ethically sound customers to do is be a part of the plunder. That is what occurred this week when the Nomad token bridge began crashing and white hat hackers had been left attempting to steal crypto from the trade as quick as they might (to come back again later).

Howdy and welcome again to the Chain response podcast, the place we unpack and clarify the most recent crypto information, drama and tendencies, breaking it down block by block for the crypto curious. This week, we welcomed a brand new co-host (TC+ Senior Reporter Jacquie Melinek), and dove into the Robinhood layoffs, the Solana pockets hack drama, and the large Nomad Bridge heist.

Moral hackers aren’t normally pressured to make rash choices to steal thousands and thousands of {dollars} from a crypto mission, however within the wild west of web3, typically the most effective factor to do when one thing goes improper is to pack your baggage. As viewers watched in horror as Nomad’s $190 million token bridge collapsed, some jumped to the rescue and replicated the exploit the black hat hackers had been utilizing to steal extra funds from the mission.

Many had been chronicling their theft in actual time on Twitter and pledging to pay again cash to refund person funds. Whereas this assault was fairly disastrous for all events concerned, almost 10% of the overall stolen funds have been returned to the trade to date, with as a lot as $4 million returned by a white hat hacker.

Together with the Nomad hack, we additionally dove fairly a bit into the inexpensive however doubtlessly scarier Solana pockets infrastructure hack that left hundreds of customers mysteriously shedding their funds. We additionally speak concerning the current struggles at Robinhood, which laid off nearly 1 / 4 of its workers this week.

For loyal listeners, you may discover a giant change this week. There is no such thing as a interview! Going ahead, we are going to cut up our information evaluation and interview segments into totally different episodes so that each Tuesday you may hear us sit down with a crypto skilled and each Thursday we are going to launch an episode on the most recent crypto information. Early subsequent week, tune in for an interview with Uniswap’s MC Lader as we focus on the divergent worlds of centralized and decentralized finance in crypto.

Chain Response podcast episodes air each Tuesday and Thursday at 12:00 pm PDT. Subscribe to us on Apple, Spotify or the choice podcast platform of your selection to remain updated with us each week.

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