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Pure Alpha. News, Catalysts, Narratives, Knowledge, Projects, Airdrops. Find me on X: CryptoShiro_ Find my Newsletter for more Alpha: linktr.ee/cryptoshiro
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Channel Posts
+1
Gm,
Buying some $SERV & $HYPE here.
Risky because $BTC could rug me.
But good entry anyway long term.
Still have 50% of the portfolio to recharge so I'm good. 🫡
| 2 |  Gm,
Over 4x since this post.
As I called here, I bought around this post, and I bought a bit more around the big dips, then I started selling on the way up, from $40.
Yet I still have a bag, and I still believe we're going higher.
🔗 Here is my thesis
NFA & DYOR 🫡 | 661 |
| 3 | Gm,
I'm currently about 40% invested in the market.
This is what I've been advocating for months: always keep dry powder. 🫡
I exited most of my spot positions back in November and avoided a large part of the downside. Since then, I've mostly focused on small caps and shorter-term plays.
Unfortunately, as you've seen, I got back into the market a bit too early after waiting for months, I made a big buy around BTC $73k. But I still have cash ready. I added more at BTC $62k and $60k, and for now I'm happy to hold and wait.
With so much uncertainty, there's no need to rush into deploying more capital.
My two biggest positions after BTC are still HYPE and SERV, both of which remain in solid profit. (Although my HYPE position isn't as large as it once was since I took profits on the way up.)
I also hold a few smaller positions in strong projects within strong narratives like AI and privacy. Some of them are $NOCK, $VVV, and $REI. Most are still in profit (not REI), so I'm comfortable reducing them if needed.
Beyond that, I have a few small degen positions in narratives like Robotics and the World Cup, but nothing sizable and nothing intended as a long-term hold.
Of course, I'm still actively looking for opportunities. I've missed a few great setups across large caps, privacy and AI, that I probably should have taken.
And there are opportunities outside crypto as well.
I must admit that a few concerns have started to emerge around crypto lately.
Some are related to DeFi and the possibility that AI could make exploits, and find smart contract vulnerabilities. Or the MicroStrategy/Saylor concentration risks, and the fact they started selling BTC for the first time since 2022 (very small sales tbh).
Others are tied to capital flows: what if most of the money continues rotating into AI and equities while crypto gets left behind?
But then again, crypto has always had a wall of bearish narratives hanging over it.
People said Bitcoin would be banned.
• They said governments would shut down mining.
• They said regulations would kill the industry.
• They said ETFs would never be approved.
• They said the China mining ban would be the end of Bitcoin.
• They said environmental concerns would destroy adoption.
• They said stablecoins would be outlawed.
• They said the whole ecosystem was a scam because of LUNA or FTX.
Now people talk about quantum computing as an existential threat.
Yet somehow, Bitcoin has survived every cycle and come out stronger each time.
That doesn't mean every concern should be ignored.
But history shows that betting against Bitcoin's ability to survive has rarely been a winning strategy.
Anyway, I'm not the type to abandon crypto and suddenly rotate 100% into stocks, AI, or whatever is hot. But I'm not stupid either. If crypto is slow and opportunities are limited, I'll also look elsewhere. Although more often than not, the best opportunities come when crypto is dumping, everyone is doomposting, and the Fear & Greed Index is sitting at extreme lows.
And right now, stock market indexes like S&P500 are at ATH and AI stocks have already seen massive moves, so the easy opportunities may be disappearing. That said, I still believe there will be strong performers in both AI and robotics, so I'm still researching those spaces. It's just the beginning.
As for the possibility of making a 100% return on meaningful size over the next few years, I think BTC could be one of the better candidates. We're likely much closer to a bottom than a top, and I expect we'll see $120k+ again during a bull run in a year or two.
So I'm keeping dry powder for a lower BTC entry, and also in case we get a good dip on S&P500, other major indexes, or even gold. So far, the dip in gold has been small, and I don't see it having a better ROI on a 2-year timeframe compared to BTC at current prices. Could be very wrong.
In the meantime I'm holding my current assets, and going for some short-term plays on narrative tokens, and on stocks in the strong narratives as well.
What are you doing yourself? | 795 |
| 4 | God bless I have my HYPE bag | 671 |
| 5 | Buying more here too.
BTC $62K | 661 |
| 6 |  Gm,
Update to this post.
As I said I sold most of my bags when $ETH was between $4k to $3.3k, which happened to be a great move, that I explained here and that I called too.
Now I'm doing another call: I'm starting to buy back in the market. On this dip.
Even if we could go lower, maybe even lower than BTC $60k, I think now is a good time to start buying again, as I was almost fully out of the market (apart from my short terms plays, and low cap convictions).
So I'll be buying $BTC at this price, probably $ETH too.
Perhaps some other big caps in lower amounts as well.
And I still hold a decent bag of $HYPE too.
I'm not all in yet, of course, just scaling back in, but starting with a big buy today.
For the long term game.
In the meantime I'll keep my $SERV bag, will even add to it. + Some of my other small plays on AI & robotic tokens too.
What are you doing yourself? 🫡 | 942 |
| 7 |  +1$ROUTER is also up, almost 2x 🫡
Talked about it in my last $SERV post.
Here are some resources about $ROUTER:
🔗 Link 1
🔗 Link 2 | 823 |
| 8 |  Gm,
4x.
$SERV is serving. 🫡 | 692 |
| 9 |  Gm,
Up another 50% on $SERV 🫡
Buying the top was working this time, we're indeed in an AI & OnChain Bull Run.
Buying the dip at $22M, a bit later, was also a possibility, so all in all we're good!
Buying now doesn't even seem too crazy either, and I just wrote why here:
🔗 Why $SERV is going to $100M+
NFA & DYOR 🫡 | 856 |
| 10 |  Gm,
$SERV finally moving!
We're up ~40% from the call here and around 80% from my bottom call on X.
Took a while but we take it 🫡
Still massive potential though. But as always, if you're not positioned already, it's rarely a good idea to top blast.
Although these days it feels like we're in a bull run inside a bear market, so who knows 🫡
Long term, we're going to $100M Mcap anyway. | 782 |
| 11 |  Gm,
$LAND +80% 🫡
Flywheel starts today. | 748 |
| 12 |  Gm,
We're back at my entry price for $LAND.
For those who bought at a $2.4M Mcap from my call, I hope you secured initials after the 2x, cause the dip has been brutal after. Always secure initials.
There has been a lot of FUD. I was waiting to understand why and whether we were actually going to zero or not, which is why I didn’t buy the bottom. But now, with the market cap below $500k and the chart holding up, I think we're good for another run.
The team is still building, hiring more devs, staking is now live for airdrops, and mining resumes on Monday.
Once mining resumes, 100% of protocol fees will be returned to holders:
• 75% will be used to buy back $LAND
• 20% will be distributed as $ETH rewards to stakers
• 5% will be allocated as incentives for top protocol users, with more details coming soon
Still a very risky play, as you can see from the volatility. Still a ponzi-style play. Be careful, NFA. 🫡 | 726 |
| 13 |  +3Gm,
In case you missed it, here is why TON is pumping:
🔗 TON News
There could be some good opportunities right now, and $TON could be a good asset for the long term.
NFA & DYOR 🫡 | 816 |
| 14 |  We up 🫡 | 623 |
| 15 |  Gmgm,
Alts are back, trenches are back, on this BTC (scam?) pump.
I'm buying $LAND.
(0xB738b1568F08B0d6894a580Ef805E9298ebFaB46)
I'm in since < $500k Mcap, I'm buying more around $2.5M and if we go under $2M.
It's a ponzi play, a cabal play, I'm just following the money.
🔗 Learn more
Be careful with risky plays.
NFA & DYOR 🫡 | 713 |
| 16 | w valid rsETH tokens and accepted them at 93% LTV. The attackers borrowed ~$236M of wETH against that collateral.
6. Why wETH specifically? Two reasons: First, at 93% LTV they got more value out per dollar of collateral than they would by selling. Second, wETH can't be frozen or clawed back. Kelp paused rsETH a bit later, but by then the attackers were holding uncensorable wETH. The counterfeit rsETH became Aave's problem, not theirs. This is the clever part: they swapped a freezable fake for an unfreezable real asset, and let Aave eat the loss.
7. Kelp reacts: At 17:35 UTC the drain happened. At 18:21 UTC, 46 minutes later, Kelp's multisig holders noticed and pressed the emergency pause on the bridge contracts. That blocked two more attempts at 18:26 and 18:28 UTC where the attackers tried to drain another ~$50M each. Those transactions failed because the contracts were now frozen. The 46-minute response saved roughly $100M.
✦ Why it's a huge hack, and not only impacting Kelp:
• Aave bad debt: ~$196M concentrated on the rsETH/wETH pair, with Aave's own estimates ranging from $123.7M to $230.1M depending on resolution path. Umbrella (safety module) is undersized for a single-event loss of this size, so will stkAAVE be slashed? Slashing means the protocol seizes part of the staked tokens to cover a financial hole. In Aave's case, up to 30% of stkAAVE can be seized and sold on the market to absorb bad debt. It's a built-in insurance mechanism.
The AAVE token's -22% is pricing that probability.
• Bank run: $5.4B of ETH pulled from Aave in hours. Justin Sun alone withdrew 65,584 ETH (~$154M) and then publicly offered to negotiate with the hacker. ETH, USDT and USDC markets all hit 100% utilization, leaving depositors unable to withdraw.
• TVL damage: Aave from $26.4B to roughly $17.3B (-$9B). $8.45B in deposits exited in 48h. Total DeFi TVL down $13.21B over two days. AAVE lost its crown as the biggest protocol.
• Contagion: SparkLend, Fluid, Lido Earn, Ethena, Compound, Euler, Yearn, Upshift, Pendle, Beefy, Morpho, Kamino, Hyperithm, Loopscale, Yuzu, Avant, Superform all affected. 91% of lending protocols in outflows.
• Blame game: LayerZero points at Kelp's single-verifier configuration. Kelp and much of CT reply that this config relied on LayerZero's own infrastructure and defaults, and note that 47% of LayerZero apps run 1-of-1 DVN and 45% run 2-of-2, meaning Kelp was not an outlier. Independent analysis points at the compromised RPC nodes as the root cause regardless of DVN count.
• Partial intervention: Arbitrum DAO pulled its funds before the lockup via Entropy Advisors. On April 21, the Arbitrum Security Council froze 30,766 ETH (~$71M) from the exploiter's Arbitrum addresses and sent them to 0x...0DA0. Important caveat: the exploiter moved 75,700 ETH (~$175M) across two new wallets on other chains minutes after the freeze announcement. Frozen ≠ recovered. The Arbitrum funds will only move through further governance action.
✦ Conclusion:
Aave didn't get hacked.
But the trust chain failed: Aave trusted that rsETH was real → rsETH trusted that LayerZero delivered legit messages → LayerZero trusted the RPC providers → the RPC providers got owned.
And because the attacker chose to exit through lending rather than selling, the mess got to Aave's balance sheet as ~$196M of bad debt, triggered a bank run, and dragged down the whole DeFi lending sector. That's why this hack isn't just about Kelp.
Many people are getting out of their positions and withdrawing from DeFi, which is obviously not good for the industry.
I myself have liquidity stuck on AAVE.
Let's see how this situation unfolds. Hopefully in a positive way for the users. 🫡 | 0 |
| 17 | Gmgm,
I've been back almost full time in the market for a month now.
And so much has been going on lately, that I feel like a lot of people haven’t caught up.
So here I am, back again, with recaps. 🫡
Let's get you up to speed on the Kelp DAO / Aave rsETH exploit.
————————
✦ What happened:
KelpDAO got hacked, and it’s affecting AAVE and the whole DeFi space.
North Korea figured out that LayerZero was relying on a handful of RPC providers, compromised 2 of them and DDoS'd the rest to force LayerZero into using the falsified data.
With that vector, the attacker forged a cross-chain message on Kelp DAO's LayerZero bridge, minted 116,500 rsETH (~$292M) with zero ETH locked on the other side. The unbacked rsETH was then deposited on Aave V3/V4 as collateral at 93% LTV to borrow ~$236M in wETH, which has no freeze function. Kelp's emergency pauser multisig froze the core contracts 46 minutes after the first drain (17:35 UTC drain, 18:21 UTC pause), blocking two follow-up attempts at 18:26 and 18:28 UTC that would have added ~$100M in losses. Yet, the losses were already big enough to destabilize DeFi.
✦ Situation explained thoroughly, step by step (ELI5):
• LayerZero is a messaging service that lets different blockchains talk to each other. Think of it as a postal service between Ethereum, Arbitrum, Solana, etc. If a user wants to move a token from one chain to another, LayerZero delivers the "move it" message.
• RPC providers are the servers that read the actual blockchain data. When LayerZero needs to verify "did this transaction really happen on chain X?", it asks a few RPC providers and trusts what they say. If they lie, LayerZero believes the lie.
• Kelp DAO is a "liquid restaking" protocol. You give them your ETH, they stake it (to earn yield), and in exchange they give you a receipt token called rsETH. That rsETH is supposed to be backed 1:1 by real ETH. rsETH exists on 20+ chains, so Kelp uses LayerZero to move it around and keep track of what's backed where.
• Aave is the biggest lending protocol in crypto. You deposit a token, you can borrow another against it. Classic collateralized loan. Aave accepted rsETH as collateral at 93% LTV, meaning: "give us $100 of rsETH, borrow up to $93 against it." Aave trusted that rsETH was real because Kelp said so.
wETH (wrapped ETH) is just ETH in an ERC-20 token format. Important detail: it has no "freeze" button. Nobody, no admin, no DAO, can block a wETH transfer once it's done. Regular ETH and most ERC-20s work this way. rsETH by contrast has a pause function that Kelp controls.
• Multisig is a wallet that requires multiple signatures to act. Kelp has one that can pause the protocol in emergencies.
• DDoS is flooding a server with fake requests until it crashes and stops responding.
1. Reconnaissance: North Korean attackers (the same Lazarus group behind the Bybit hack and many others) noticed that LayerZero was relying on just a few RPC providers to verify cross-chain messages. Fragile setup.
2. Infrastructure compromise: They hacked into 2 of those RPC providers to control what data they return. Then they DDoS'd the other providers, making them unreachable. Now LayerZero had no choice but to ask the compromised ones, which cheerfully told it whatever the attackers wanted.
3. Forged message: The attackers sent a fake message that looked like: "Hey Kelp bridge on Ethereum, a user just burned 116,500 rsETH on another chain, please release 116,500 rsETH on Ethereum to this address." Nothing was actually burned anywhere. The message was fabricated end-to-end.
4. The mint: LayerZero, reading the falsified data from the compromised RPCs, said "looks legit" and signed off. Kelp's bridge contract obeyed and minted 116,500 brand new rsETH tokens (~$292M) to the attacker. These tokens had no ETH backing them. They were counterfeit, but the blockchain can't tell the difference.
5. Laundering through Aave: Selling $292M of rsETH on a DEX would crash the price and leave a trace. So the attackers took the counterfeit rsETH to Aave and deposited it as collateral. Aave's code sa | 0 |
