RFV Raiders' $450K Payday 💸

In today's edition: 🥷 $31 Million crypto heist, 🦜 Parrot Protocol's controversial redemption plan, and more!

July 24, 2023

What’s Poppin’?

by Laura Shin

The couple are pleading guilty to laundering of bitcoins stolen in 2016 from Bitfinex. According to a source, their sentences could be reduced due to good behavior.

by Samyuktha Sriram

The group of activist investors behind Incubator DAO sold the ROOK tokens received during the treasury migration.

by Samyuktha Sriram

Early investors of Parrot Protocol stand to lose nearly 90% of their initial investment in the team’s $85 million Initial DEX Offering (IDO).

by Samyuktha Sriram

The crypto payment service’s hot wallet was hacked on Ethereum, Tron and Bitcoin and the stolen funds were distributed to multiple addresses.

On the Pod…

Show highlights:

  • whether the SEC is going to appeal the recent Ripple ruling and whether Judge Analisa Torres would allow it

  • what the risks are for the SEC of taking the case to the Second Circuit

  • why Bill believes that the SEC’s chances are not good at the Supreme Court

  • what the motivation is behind the new DeFi bill in the U.S. Senate

  • how that bill would impact the different stakeholders in a DeFi project

  • why the crypto community should put its focus on the stablecoin and market structure bills first, according to Bill

  • how the SEC has been dropping lawsuits days prior to Congressional debates about crypto

Daily Bits…✍️✍️✍️

  • ⚖️ Craig Wright, self-proclaimed Bitcoin creator, won an appeal in the UK to pursue his copyright claim on the Bitcoin file format, contending that the operations of Bitcoin and Bitcoin Cash infringe on his intellectual property rights.

  • 📰 Bankrupt crypto lending platform Celsius achieved settlements potentially leading to court-sanctioned customer asset returns, resolving thousands of fraud claims.

  • 🔍 Lawyers for the SEC indicated a possible appeal to overturn parts of the recent Ripple Labs verdict, using an ongoing case against Terraform Labs and former CEO Do Kwon to highlight their stance.

  • 🚀 The Worldcoin Protocol, backed by Sam Altman, announced the launch of its native WLD token following its migration to the OP Mainnet.

  • 💻 The US Department of Justice aims to ramp up crypto-crime investigations by integrating the National Cryptocurrency Enforcement Team with the Computer Crime and Intellectual Property Section, enhancing resource availability and scope.

  • 📊 The Arkham Intel Exchange, a crypto intelligence trading platform, received 11 unique submissions since its July 10 launch, with bounties including the identification of Elon Musk's public address and tracking addresses that exploited FTX.

  • 🔓 DeFi platform Conic Finance reported a security breach that resulted in the theft of over 1,700 ether (valued at over $3.6 million), due to a price manipulation exploit caused by "read-only reentrancy," according to security firm BlockSec.

  • ☠️ Global terrorist groups linked to ISIS frequently use cryptocurrency for fundraising, with pro-ISIS groups in Tajikistan raising about $2 million in Tron-based USDT in 2022, according to blockchain analytics firm TRM Labs.

The $$$ Corner…

  • 💰 Side Labs secured $1.5 million in pre-seed funding, aimed at team expansion, legal compliance, and growth of their Mesh Liquidity Network.

Bringing institutional-grade financial products on-chain, starting with the tokenization of US Treasuries and money market funds.

What Do You Meme?

Learn 🤓

Learn how NFT tickets are revolutionizing the event ticketing industry, how they work, and some of their use cases.

📈 Your Market Update 📉

  • BTC is down 2%, trading at $29,294

  • ETH is down 1.2%, trading at $1,853

  • BTC dominance: 46.69%

  • Crypto market cap: $1.22 trillion

*All data as of today, 7:35 am ET

Recommended Reads

ICYMI: On Unchained Premium 💎

⛓️ Join Unchained Premium to get access to:

  • 🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.

  • 💬 A subscriber-only Telegram group, where you can talk with the other members of the Unchained community, build a network in crypto, and talk directly with me and the Unchained team!

  • 📰 Transcripts of all the shows, for subscribers only.

If You Like What You Read: