...and is definitely not an enormous grift that's pouring lighter fluid on our already smoldering planet.
Created by Molly White. Subscribe to her newsletter for weekly recaps.
A little over 700 victims were affected, and the highest loss from a single wallet was around $657,000. 121 wallets lost assets priced at more than $10,000.
On January 23, the protocol announced they had recovered 1,032 ETH (~$2.23 million) of the stolen funds.
Evidently the platform has still been running since then, though it rarely enjoys much mention alongside its many competitors.
Now, rolling out the classic "regulatory uncertainty" line, GameStop has announced it will be shutting down the marketplace. After shutting down a crypto wallet project in November, the company seems to have fully exited the crypto world.
The bug was fixed about a week later. There has been a dispute since then between Harmony employees and a consultant who was involved in identifying the bug, and the consultant has been accused of delaying action to profit from the excess tokens. The consultant also balked at destroying some of the tokens he mistakenly received.
The consultant claims that he didn't profit from the bug, and objected to a Harmony employee coming after him to destroy the excess tokens when he'd done little towards others who profited from the error. He did, however, say later that he had destroyed the tokens.
According to the consultant, a Harmony employee claimed that he had filed reports to the FBI and IRS about the consultant's behavior, and had the consultant banned from the annual ETH Denver event.
The failures included poor anti-money laundering programs, deficiencies around filing suspicious activity reports, and poor cybersecurity.
The NYDFS action is only one of Genesis' many worries these days, as it undergoes bankruptcy proceedings and is facing various other legal woes.
With the malfunctioning hardware wallet and no recovery key, Bentley has lost access to assets including 1.2 million EUL tokens — over 4% of the total EUL token supply. These tokens are priced at about $3.8 million today, though at other times the tokens would have been worth up to about $15 million.
"I've now lost a substantial percentage of the crypto assets I held in cold storage, accumulated over more than seven years, including the majority of the EUL allocated to me for participating in Euler governance," said Bentley.
Some have speculated that the trade might be an expensive marketing stunt to increase attention to WIF, which was losing some steam.
I'll give it to them: the token's namesake is pretty cute. But not $9 million cute.
It's unclear if the move is spurred by the massively waning interest in NFTs, or if it's part of Twitter's broad slashing of functionality in the wake of Elon Musk's disastrous takeover and cost-cutting attempts.
Those who already had the hexagonal profile pictures now seem to have had them restored to their usual circular shape, and there's no longer any mention of the feature in Twitter's support documentation, and new NFT profile photos can't be uploaded. People can, of course, still right-click and save the images and upload them that way.
Bitcoin briefly spiked by about $1,000 before dipping around $1,000 below its previous price, as traders excitedly reacted to the news, and then the news that the news was fake.
Bitcoin Rodney has been charged with operating an unlicensed money transmitting business and conspiracy to operate an unlicensed money transmitting business.
When investigators subpoenaed Discord for Rhoden's chat logs, they found messages celebrating the rug pull. "good shit on us making a fuck ton of money," he wrote to his co-conspirator.
No JavaScript? That's cool too! Check out the Web 1.0 version of the site to see more entries.
