Libre Blockchain

KuCoin Caught Launching Hundreds of Memecoin Scams https://twitter.com/librehash/status/1651692375205445632?s=20 1. User on Twitter named 'CoinGuruu' put up a tweet claiming that an ETH wallet address he had found was responsible for launching 2-5x memecoin scams per day for the past two years. The tweet has several hundred thousand impressions at this point. 2. If you look up that address on Etherscan, it has been labeled as a 'phishing' (scam) address 3. The address in question is a deposit address at KuCoin that sends directly to the exchange's hot wallet. Thus, that address is owned, operated and controlled by KuCoin exclusively. No customer ever touches that address. Even if that were a customer's deposit address, all they can do is send money there, they can't deploy contracts or send money from said address. Based on those set of facts, if the claim made by CoinGuruu is true, then we must consider the exchange to be exposed as a bad actor of considerable magnitude. At the time of writing, CoinGecko has KuCoin ranked #3 in "trust score" among all exchanges in crypto.

Some Tokens to Pick Up 1. Arbitrum (obviously) 2. Bitcoin (you should’ve been in this since 2022; now is when you “HODL”) 3. Ethereum (same as above) 4. Matic 5. Aptos 6. Rocket / Lido (or both) 7. Litecoin 8. Near 9. Algorand 10. Fantom (Cronje is back) If you got your hands on Sui, good for you because it’s going to easily surpass >$1. If it doesn’t then a lot of people will be under water on it. We’re in a bull market. Follow the mini cycles of Bitcoin’s price pumps if you want to get in at the bottom & sell at the top of each “cycle”. We went from $16k in November to $25k in January. Then back down to $20k. Then back to $28k. Then down to $25k. Then up to $30k+. Then back to $25k. Now we’re on the cusp of $30k+. Price never moves in a linear fashion on the markets. That’s why “HODL” is smart advice when it’s a bull market if you’re not in tune or adept enough as a trader to know when to enter / exit during this mini bullish cycles we’re seeing. The reason why is because if you fuck up the timing of your entries & exits in a bull market you can still end up losing money even as the price of everything goes up. And there’s nothing worse than that.

Still Here! Never went anywhere. At all. On the contrary, hard at work on a few things. Following all developments going on w Circle, legislation, token launches, rise of memecoins, SEC wars, Binance scrutiny, L2 developments, AI etc Just using this brief slowdown to situate a few things for you all. Getting ready to reboot this channel. If you need to reach me please DM.

Starting to get the gist exchanges don’t actually care about their customers 🤔

Get your money off crypto.com while you still can. There are other places you can trade crypto. If you fail to do so, you may find yourself regretting it in the near future. They’ve always been a shaky, shady enterprise with even shadier & opaque leadership structure. Use at your own risk 💀

Crypto.com Canadian Customers Having Withdrawal Troubles Not covered by any outlets yet but there are widespread rumblings on social media about this. Apparently Canadian customers (at least) have been having issues getting their fiat off the platform since at least the beginning of the month. 1. https://www.reddit.com/r/Crypto_com/comments/12dlzej/are_fiat_withdrawals_etransfer_not_working_for/ 2. https://www.reddit.com/r/Crypto_com/comments/12f13nw/anyone_else_having_difficulty_cashing_out_to_fiat/

Sam Bankman-Fried Violated His Pretrial Release Conditions Explain how I'm wrong. 1. We see that his account unfollowed another user on crypto. 2. New bail conditions were agreed upon on March 28th, 2023. Provided some screenshots showing the actual article from Pacer.gov for those curious (also downloaded it from Pacer & have it attached; if you don't trust the link then don't download it) 3. If you read that filing with his latest bail conditions, it specifically outlines which sites he can go to (under any condition, on any device whenever he is granted access). Like, its a concrete list like "WSJ, businessinsider, cointelegraph, etc." ; Twitter is not on said list He's on house arrest so he can't leave. He's only allowed to contact his attorneys. There's no bot/API that we've ever seen posting automated messages from his account. IF I'M WRONG, TELL ME HOW I'M WRONG

SBF's New Bail Restrictions Should Make That Unfollow Impossible Here's the Reuter's article giving you the rundown of the new agreement that was reached between SBF & prosecutors and signed by the judge in federal court on March 28th, 2023 (confirmed this through Pacer) https://www.reuters.com/legal/sam-bankman-fried-prosecutors-reach-new-bail-agreement-2023-03-28/ SBF is to: 1.Have a cellphone with no plan 2. Basic laptop w limited functions 3. Forbidden from using other electronic communication devices 4. Phone is to be limited to text messages + voice calls w other messaging applications prohibited They went so hard w the new conditions that not even his parents are allowed to bring their electronics in their home... lest SBF gain access to them somehow. Nothing about his profile activity on Twitter indicates that this was the product of some macro or bot. Considering the severity of the pre-trial bail restrictions, its hard to imagine that the courts would be cool w SBF directing someone to log into his account & perform that action on his behalf. Also, consider the fact that since he's not allowed on the site at all in the first place. Maybe I'm overhyping this and there's some explanation for that unfollow. His last unfollow before that was March 14th...which is quite some time ago.

SBF Might Have Just Violated Pre-Trial Conditions Just got this tweet from a bot that tracks follows & unfollows by big accounts (I like tracking random things like this) Sam Bankman-Fried’s name just popped up a few minutes ago curiously. https://twitter.com/bigcryptoalert/status/1643429766974906368?s=46&t=QYBKsGMfEWPaSQS3PMNeSA

Before this most recent spat, there hadn't been an outage since June 2022 (that was for less than an hour). Before then there was another issue in December 2021, but it didn't result in an actual outage. And...that's it. One other very minor hiccup. But otherwise, perfect. Then I publish some research about an issue on Avalanche in February 2023. People laugh, call it a larp, FUD, etc., "oh you're just mad they won't pay you a bounty! haha!" Then Avalanche suffers its worst mainnet attack ever less than a month later, knocking the protocol offline for damn near 3 days straight (due to an array of issues). I'm sure this is all a coincidence though...

Avalanche Issues Following Research I Published https://status.avax.network/ Three issues back to back (March 20th, March 21st and March 22nd). Avalanche Node Exploit I published a series of research pieces in February 2023, where I pointed out a specific attack vector that could exploited to cause issues on the network. Coincidentally, less than a month after publishing...there are three different issues on the explorer mainnet; all related to the processing of transactions. Last Incident

Joe Biden Attacked Crypto in 1990 This is what an actual attack on crypto would look like "As more people ventured into the cyberspace, the U.S. government began to take a greater interest in what they were doing there. In 1990, the FBI launched an over-the-top crackdown on computer hackers, known as Operation Sundevil. This was swiftly followed, in early 1991, by a proposed piece of U.S. Senate legislation that would force electronic communications service providers to hand over people's personal data. (The key clause, S.266, was pushed by then chairmen of the U.S. Senate Judiciary Committee, Senator Joe Biden.) https://www.americanscientist.org/article/cypherpunks-write-code

Majority of the Bitcoin Ecosystem = Paid Shills; Lightning Network Support is Manufactured Most of the thought leaders on Twitter in the "crypto community" are fueled, funded & propped by iFinex and Digital Currency Group in one way or another. This trickles down to the development as well. Specifically, Blockstream (in various facets). The interests of the Bitcoin community, in particular, is tied to and funded substantially by Tether. List of Entities, Individuals & Influencers Included Among This Scheme (some entries may seem redundant; i.e., Leigh Cuen and CoinDesk or Adam Back and Blockstream) Anthony Pompliano, Dan Held, Blockstream, Adam Back, Peter McCormack, Samson Mow, Isaiah Jackson, Jonathan Levin, Zac Prince (BlockFi), Preston Pysh, Giacomo Zucco, Raoul Pal, Andreas Antonoulos (his contributions are significant, but his still complicit), Luke Dash Jr., Willy Woo, Jeremy Allaire (Circle), Matt Odell, Jameson Lopp (contributions = significant; still complicit), Nic Carter, Aaron van Wirdum, Parker Lewis, Trace Mayer, Tuur Demester, 'The Block', Larry Cermak, Mike Dudas, Pete Rizzo, Erik Voorhees, Jake Chervinsky, Peter Wiulle, Jeremy Welch, John Newberry, Pierre Rochard, Tadge Dryja, Andrew Poelstra, Brock Pierce, Tone Vays, Roger Ver (yes; one of the stronger candidates tbh), Trace Mayer, Nathaniel Whittemore, Francis Pouliet, Ari Paul, Max Keiser + Stacy Herbert, Riccardo Spagni, Charlie Lee, MIT Media Lab (funded + one of the funders), Bitcoin Foundation, Lily Liu, A. Soleimani, Alan Lane, Udi Wertheimer, Jimmy Song, Phil Potter, Charlie Shrem, Spencer Bogart, Caitlin Long, There are more on this list, but that should give you a general idea of whom exists as the face of this movement.

Trump Indicted According to all news outlets. https://www.npr.org/live-updates/donald-trump-indictment-arrest-new-york Posting because it is relevant to crypto as it will shift the focus and narrative of the Biden administration and Congress as a whole.

Nobody Uses the Lightning Network and Nobody Will Ever Use it Its confusing, inconvenient, not even safe or practical, more expensive, cumbersome, and restrictive all while stripping away any benefits Bitcoin actually provides over traditional fiat payments using the banking system. Its not quicker or "more convenient". Its not necessary. At all. Its like a contraceptive designed for people that already wear condoms. Explicitly. "Decentralization! No Third Parties!" (Kiss that shit goodbye with the Lightning Network) If you want to interact with the LN autonomously, you need to run your own Bitcoin full node. Full stop. Otherwise, you'll have to rely on a 3rd-party that's running one for you (that also must custody your Bitcoin while on the network). So instead of cutting banks out the equation, we've actually cut them in. Even if you have opted to run your own node, you're likely to opt for a 3rd-party provider anyway because they'll have more inherent 'connections' on the network with intermediate nodes that can bridge the 'distance' between you and whomever you're looking to send funds to on the "Lightning Network". You Have to Run That Node 24/7 to Ensure You Aren't Robbed on the Lightning Network What?? Yes. True. Hope you didn't get too used to the luxuries afforded to you by transacting normally on Bitcoin like (a) not having to operate a full node to transact p2p autonomously in a trustless manner (b) using a decentralized network and perhaps most importantly (c) not having to be "online" to make sure someone doesn't 'reverse' transactions. Because LN comes with none of those creature comforts. An LN channel is created when you & whomever you're trying to establish a channel with sends funds to a multisig address (2-of-2) on the normal blockchain. That's what "locks" your money into a 'channel'. From there, the 'off chain transactions' between you and the other person are basically informal, on-paper non verified or validated transactions. So instead of relying on a distributed, decentralized immutable trustless ledger as your ground source of truth you're going to have to rely on "scout's honor". Let's say you start a channel using 5 of your bitcoins with Joe Blow who also puts up 5 of his own bitcoins. You run a cable company and Joe Blow is a subscriber. He pays 1 bitcoin a month. Two months go by, and he's "paid you" 2 bitcoins in this "channel" yall created, shifting the balance from 5 bitcoins a piece to 7 bitcoins your way & 3 bitcoins for him. If you go offline for any reason and Joe Blow notices he can publish the OG channel state (where you guys both had 5 btc a piece) and have that confirmed on chain, effectively robbing you out of those 2 bitcoin he "paid" you. The only way to prevent this is to remain online 24/7 & watch the channel & the blockchain to ensure Joe Blow doesn't do this. Sound like too much? No problem. You can just pay a 3rd-party to "monitor" the channel & blockchain for you to ensure Joe Blow doesn't try to "cheat" you. Ofc you'll have to trust that 3rd party and pay them a fee. When you close the channel you'll have to pay w/e fee is associated with that on-chain TX (which will be more than the normal TX since the funding TX involves at least two inputs & they went to a multi-sig address so >1 signature needed to close it too, so we're talking 5-6x weight of a normal TX just in closing; "opening" the channel is another on-chain transaction (+ associated fee). Also you can't "add" more funds to a channel once its been opened. Whatever you sent to fund the channel is what you're stuck with. Wanna add more? Create a new channel.

Bye Do Kwon You Fucking Clown - Finally Arrested https://www.coindesk.com/business/2023/03/23/do-kwon-arrested-in-montenegro-interior-minister/?outputType=amp

Translation: If you lost money on an asset that trades on Coinbase that is later ruled a security, you can sue them and recoup all losses.