🧐 Opensea Employees Are Insider Trading?

Gm, this is doodhwala, the crypto newsletter that’s as reliable as the Chandrayaan-3. 😎

WE REACHED THE MOON! 🔥

Here’s what we got for you today—

• 🚨 New Drainer: There's a new drainer out here to take your crypto.

• 🤫 Insider Trading: Opensea employees are doing Insider Trading?

• 📈 Cheese and Charts: Opensea vs. BLUR.

• 🛠️ Resourcewala: Vitalik’s thoughts on Community Notes.

• 🍼 Doodhshots: Creditors begin the battle.

🚨 SIM Swapping Drainers are here for you.

There’s a new way to drain your crypto outta your damn wallets. 🤦

And it’s now happening through everyday stuff, like, idk, reading messages? 😮

Say hello to SIM Swaps, the next best hacking technique—

Coming to steal 🫵 crypto.

With millions of dollars lost so far due to SIM Swaps, why are crypto companies and celebrities being targeted?

Let’s understand wtf this innovative new drainer is—

And how to potentially stay safe out there from such hacks. 🛡️

1️⃣ WTF are SIM Swap scams?

Think about it like your Doodhwala tricking you into thinking you he’s given you fresh doodh. 🥛

But it turns out to be that can of milk that’s been sitting out there for hours. 😔

That’s kinda what SIM Swaps do. 🥴

• Hackers tap into your phone and trick it into thinking it’s another SIM card.

• The Hacker can then mirror and see all the messages, calls, and those 3 AM texts you sent to your Ex thinking she’ll get back to you.

• Hackers get access to your Banking data, crypto wallets, and everything else.

This scam has been out there for a while, and it’s now hitting crypto icons and celebrities.

Our favorite crypto detective ZachXBT unveiled this and informed the total damage done so far.

Here’s what he said👇

2️⃣ Victims hit list so far.

The victims who’ve been affected by this hack, are some of the biggest influencers and celebrities you probably already follow. 😨

Think of names like—

👉 Steve Aoki.

👉 Peter Schiff.

👉 Gainzy222.

Not just people. But also projects like Aptos and Manta have been hit by this hack so far.

Based on what ZachXBT says, more than $13.3 million have been lost already as a result of these SIM Swaps on crypto icons.

3️⃣ What can you do to stay secure?

Step 1: Don’t be a celebrity. 😀

If you’ve already failed Step 1, then there's a couple of things that you can do to ensure you stay as safe as possible.

1. The most obvious one - Don't buy a SIM card from a shady seller or business. You'll end up creating the most predictable bruh moment for yourself. 👇

2. Remove SMS Authentication wherever possible: If there's specific websites which require you to use OTPs, ensure that you're evaluating it's from the right source. Avoiding it would be the best advice.

3. Enable 2 Factor Authentication on Apps: Fingerprints, Authenticator applications with unique codes and puzzles are highly recommended.

4. Subscribe to the Doodhwala: Coz why not? 🥛

Doodhwala’s take: Hacks have always been a part of crypto.

So if you want to enter a dangerous place, then make sure you're prepared to keep yourself safe. 💯

👨‍💻 Biggest Hackathon of 2023

Get ready for the #NeoAPACHackathon, a groundbreaking hackathon set to ignite Bangalore's tech scene! 🌟

• 🌐 Embark on a Web3 Journey of Innovation

• 🏆 Unleash Your Potential

• 🤝 Forge Meaningful Connections

ALL UNDER ONE ROOF.

🎯 Why Attend?

• 🛠️ Workshops: Gain insights from thought leaders in the Web3 space.

• 💻 Hack with Purpose: Tackle real-world challenges and seize opportunities to create disruptive solutions.

• 🏆 Exceptional Prizes: Prize pool of $1,100,000.

• 👥 Network with like-minded hackers: Build connections that extend beyond the event and open doors to new collaborations.

🗓️ Mark Your Calendars:

August 26th - 27th 📍 Venue: RMZ ECOWORLD, Bangalore

See you at the #NeoAPACHackathon 🫡

🚫 Insider Trading In Stocks NFTs

Insider Trading.

You must’ve heard of it happening in stock markets.

But have you heard of insider trading of NFTs?

Well, it’s a thing.

So, there’s this dude, Nathaniel Chastain. 👤

He’s the ex-head of product at OpenSea and used to pick NFTs that go on OpenSea's front page.

But then, he used some inside info to make money from those NFTs.

So, Chastain's strategy? 🤔

→ Choose an NFT for OpenSea’s front page.

→ Snap it up before it gets famous.

→ Sell it when it's popular and make money! 💸

And he made a lot... like, $50,000 (that’s a lot of doodh🥛) doing this!

Finally, Chastain got caught last June.

And he’s got himself a 3-month holiday in… prison (for now). 🤦‍♂️

When they caught him, people said it was the first time someone did insider trading with NFTs.

But wait.

Chastain thought he found a loophole. And so his lawyers tried to defend him.

They said, "NFTs aren’t like stocks. So what's the big deal?".

But the judge didn’t agree. So, the trial went on.

So, Nathaniel tried to hide what he was doing by creating

• Multiple digital wallets and

• OpenSea accounts

The idea? Buy those NFTs without anyone connecting the dots back to him. But... 🤫

Some sharp folks on Twitter started noticing something fishy.

Nate thought he was being smart by creating what are known as "burner" wallets.

No, these wallets don’t burn your crypto but rather themselves.

Wtf are Burner wallets?

But before he could burn the wallet, the information was out on crypto Twitter.

So, Ethereum from the NFT sales in these burner wallets was traced back to... yep, you guessed it, Nathaniel’s primary or main wallet. 💰

And what really blew his cover was a specific NFT in his main wallet.

Yes, it was a CryptoPunk NFT that Nathaniel, possibly feeling a bit too confident, used as his Twitter profile picture.

Dude, seriously? 😂

You got to drink some doodh to be less dumb (hope they serve doodh in prisons).🥛

📈 Cheese and Charts: Opensea Vs. Blur

Speaking of Opensea oopsies—

Did you know that Opensea volume is literally being pumped by crypto bros? 🤔

You read that right. 🥴

A new dashboard helped us analyze the kind of volume that contributes to the exchange.

It categorizes the traders into 4 categories—

• Top 1% CHAD traders. 💪

• Top 5% traders. 😎

• Top 10% traders. 😮

• Noobs. 🤡 (They call them normal users btw)

Here’s the “Excuse me, WTF?” thing about this tho - Opensea is getting most of its volume from the Noobs. 🤭

Here’s what the numbers look like when compared to its competitor BLUR—

👉 The Top 1% of Chad traders contribute to 20% of OpenSea volume whereas they contribute to 72% of Blur volume.

👉 3% of Opensea users are Chads, whereas 16% of BLUR users are Chads.

👉 On average, more than 2/3rds of the volume on Opensea is by Noobs, whereas less than 20% of the volume on BLUR is by Noobs.

What does this indicate?

Well, at the outset,

Noobs = Opensea.

Chads = BLUR.

However, BLUR is pretty new in the market, and we’re yet to see the level of participation of Opensea there. 💯

Wdyt? Will BLUR overtake Opensea anytime soon?

Hit reply and let us know your thoughts! 👇

🛠 Resourcewala: Vitalik on Community Notes: Yay or Nay?

Everyone's got an opinion these days. 🙄 From your neighbor's grandma to your Uber driver, and now...Vitalik Buterin himself.

Community Notes are all the rage right now.🔥 But do you ever wonder what the Ethereum mastermind thinks about 'em? 🤔

Well, your wish is our command!

In today’s juice-up, we spill:

• What's Vitalik's hot take on Community Notes?

• How could Community Notes evolve in the Ethereum ecosystem?

• Vitalik’s personal experience and suggestions for the platform?👓

READ TIME: Quicker than your last Insta scroll. 🚀

🍼 Doodhshots: Clash of Titans

• 🏊‍♂️ Drowning BTC: A staggering 90% of Bitcoin short-term hodlers find themselves underwater. Time for a lifeline?

• 🇭🇷Cro-Yeah: Croatia steps up, crafting its own crypto rules before the EU's big MiCA reveal. Ahead of the curve, are we?

• 🥊 FTX vs BlockFi: BlockFi throws punches over disputed billions in creditor funds against FTX and 3AC. Who's going to land the knockout?

• 🌍 USDC's World Tour: USDC's about to drop some beats on Polygon PoS, Base, and Polkadot blockchains. Spread those coins, captain!

• 📉 Ordinals dead?: Bitcoin Ordinals trading is slumping big time and it’s at its lowest. Just how deep does this crypto pothole go?

📍Web3 Events Nearby

Another weekend coming up, another meetup to attend. 😎

Check out ➡️ meetupswala.xyz for upcoming Web3 events in your city, whether you're looking for:

• meetups

• hackathons

• conferences

• or just wanna hang

Meetupswala will have something that's right for you.

Here are the top Web 3 events for this week:

1️⃣ Blockchain Bytes - Bangalore

🗓️ This Saturday 📍 BLR

⭐️ Register here → https://www.meetupswala.xyz/events/1050

2️⃣ Web3: Game on Chennai

🗓️ This Saturday 📍 Chennai

⭐️ Register here → https://www.meetupswala.xyz/events/1049

3️⃣ Delhi City World Blockchain Meetup Group

🗓️ This Friday 📍 Delhi

⭐️ Register here → https://www.meetupswala.xyz/events/1051

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

That’s all for today folks! See ya tomorrow!

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya