🇰🇵 North Korea wants you to work for crypto

Namaskara. This is the Doodhwala, the crypto newsletter that’s more refreshing than a Mentos ad claims to be.

Add those Mentos to a bottle of coke, and let’s get started! Chalooo:

• WatchOut for the North Korean crypto job scam going around

• One of the most chaotic hacks that web3 has ever seen

• Crypto win of the day

• Meme of the day

Watch out for the North Korean crypto job scam going around

Have you heard people say, “why don’t you just quit and work in crypto?”

Someone who’s taken this seriously is Kim Jong-un, the Supreme Leader of North Korea, and the second most popular Kim in the world.

He’s hatched a plan to get alpha and dough from US-based cryptocurrency firms.

This is how the plan worked:

• North Koreans steal resumes from LinkedIn and Indeed (those websites you use to stalk ya boss!)

• They pose as people from different countries (South Korea, Japan, China, and parts of Europe)

• They try to land freelance jobs with American crypto companies

• They steal intel and earn crypto which is used by the 🇰🇵 government for state projects

And honestly, the stuff they’re writing in the resume is absolute cringe:

One person claimed to be an “innovative and strategic thinking professional”

Another said, “The world will see the great result from my hands.”

Yikes, sounds worse than a Roadies interview!

The jobs these North Koreans are after are — mobile app development, mobile gaming, and building crypto exchanges.

Thankfully, writing dank crypto newsletters was not one of them Phew!

And they’re not just looking for crypto to send back to Kim. They want what we all want — some sweet sweet lassi alpha.

The job-posers started off seeking info about Ethereum, and NFTs (you know the same stuff your long-lost high school friend hits you up for!) but what they’re really after is security vulnerabilities and ways to launder money through crypto exchanges.

Not your average crypto bro!

This is not the first time Kim’s using are using crypto job offers to drop malai in everyone’s doodh.

Back in March 2022 - North Korea hacked $600 million (Rs 4,700 crore) from Axie Infinity’s blockchain Ronin. The way they did this was:

• They sent job offers with spyware to Axie Infinity’s engineers

• One engineer opened this offer and the NK hackers got access to Axie’s systems

• Out of the $600 million stolen, the hackers cashed out $200 million (Rs 1,600 crore)

Doodhwala’s take: If you’re a crypto job seeker, double-check the companies that reach out to ya. If you’re a crypto company, double-check the people you hire. You never know they might be working for Kim.

One of the most chaotic hacks that web3 has ever seen

Another day.

Another bridge bites to dust.

…and another one…and another one…Another one bites the dust 🎵🎵🎵

It seems like every few months, a bridge has to fail for the crypto world to function normally.

Just like how Akshay Kumar has to release 2-3 movies a year or the world would just stop spinning.

Quick info on what a bridge is:

In this year alone, these high-profile hacks have happened:

• Wormhole was hacked for $325 million (Rs 2,500 crore)

• Harmony lost around $100 million (Rs 800 crore)

• Ronin was exploited for a whopping $600 million (Rs 4,700 crore)

This time, it is Nomad Bridge that has taken the blow.

Nomad is a token bridge for cross-chain transfers between Ethereum, Avalanche, Milkomeda and Moonbeam.

The bridge was drained of $190 million in the early hours of August 2.

This has been dubbed as “one of the most chaotic hacks that web3 has ever seen” by the crypto researcher, samczsun.

This is because the hack happened during a routine upgrade and indicates that the thieves did not have as much technical knowledge.

Yikes. That’s a low blow. 😬

A lot of people also joined in on this exploit and used their own wallet addresses to fully drain the bridge. 

Chaos reigned supreme. A sight that The Joker would definitely enjoy.

The TVL (that’s crypto talk for the dollar value of coins in a protocol) of Nomad dropped from $190 million to $5k faster than we can boil our doodh.

Crypto Win Of The Day

Nigerians are offloading their local currency, the naira, to buy crypto.

This is driving the price of their currency lower and lower.

Could this happen to other countries?

Meme Of The Day

That’s all for today peeps! Kal Milenge!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

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 to buy or sell a 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.