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Thank you for being a part of the Cypherock family. Come rain, hail or storm, we are heads-down building the best possible product to keep your digital assets safe.
Over the next 8-10 minutes, we will be talking about hacks that caught our eye, DApps that we found interesting and our picks from Twitter and Reddit that we enjoyed.
What we’re covering this week
A Twitter Panel that can take over verfied accounts
Invest in crypto with your friend using Fragment
The ultimate guide to keep yourself safe on the internet by CIA Officer
Discussion on interoperability of blockchains and what projects to look out for
Team Cypherock
Security Digest
The Twitter Panel from hell
ZachXBT is a prominent figure in crypto security and tends to cover major incidents in the world of web3. This past week he published a thread that uncovered a major tool that would allow users to ban Twitter accounts, restore access to stolen/locked accounts, report instances of rule violations, and more. This panel has links to tampering with the accounts of NounsDAO, Franklin, Zeneca and more. What is even more interesting is the relationship that was established between the seller of the panel and scammer Cameron Redman - an individual responsible for SIM swapping a single person and stealing $37M worth of BTC and BCH.
The notorious story of Cameron Redman began when he sim swapped a single user and laundered ~60K BCH and 1547 BTC in January of 2020. With an intricate web of transactions involving exchanges and crypto mixers, Redman was eventually caught and convicted, and $5.4M of the $37M was seized. The remainder of the amount is missing till today. In May 2022, popular Twitter accounts such as @beeple, @jenkinsthevalet, @nounsdao, @frankdegods were compromised. The hacked Twitter accounts led to millions of dollars being scammed from users across Twitter.
These hacks eventually led to a posting on a marketplace called SWAPD by the user ‘antihero’ advertising a Twitter panel. The prices to use the panel ranged from $30,000 to $300,000. On July 29th, 2022 antihero emerged with the name “Cam” on a Twitter account that has been dormant for 14 years. He used the same username on Instagram as well. Eventually, Redman began to resell access to the panel which led to the hack of @nounsdao. At present, it is unclear how Redman gained access to a panel with such high level clearances, and it also seems that the panel has stopped working. But, an event such as this begs the question of the infrastructural integrity of Twitter as a platform, and how the privacy and rights of users could be at risk. There is also no comment from Twitter as of this moment.
Dapp News
NFT too pricey? Invest with your friends through Fragments
Fragments is an investment product for communities & DAOs to collectively invest in on-chain assets such as tokens and NFTs as well as off-chain assets like startups and real-estate. Anyone can set up their investment DAOs, free of cost and within a few clicks.
Fragments aims to reduce friction in investing in digital assets by reducing information asymmetry by exposing the average user to the knowledge of experts and lowering barriers to invest in digital assets by allowing users to invest with any amount of cryptocurrencies they own currently.
Fragments wants to create DAOs that allow individuals to curate investments and members to provide liquidity to purchase the assets. At present Fragments is live on the Rinkeby testnet and on the Mumbai network. Sign up to the waitlist to create your own DAO and start investing with your friends.
Twitter Tales
There is no such thing as 100% secure on the internet. But there are always preventative measures that one can take to stay safe. Luckily, CIA Officer has got us covered with a guide to staying safe on the internet.
Reddit Reads
Web3 has many factions. There are blockchain maxis and there are folks who believe in the interoperability of blockchains. If you’re a part of the latter, this discussion thread is for you.
Blockchain interoperability from r/CryptoCurrency
Updates from Cypherock
Team Cypherock spent some time in Bangalore chatting with Raj Gokal, Tanmay Bhat and Akshay BD alongside other core members of the Solana ecosystem. Check out the tweet here. Probably nothing.
We’ve been quiet about everything that has been going on behind the doors at Cypherock, but no longer. We will be hosting a Twitter Space this coming Tuesday to talk about all the developments that we have been working on. Don’t forget to set your reminder to attend the space..
Is Your Crypto Safe? Take the Cypherock Quiz and find out!
Will your crypto get hacked? Are you going to lose your crypto? Cypherock has come up with a detailed quiz that will help you understand the pros and cons of your security model. Upon completion, you will get a detailed analysis mailed to you. Take the quiz now!
Here’s some alpha 🚀
Security is our utmost concern. We want to keep your crypto safe and give you the best possible experience interacting with the web3 ecosystem. Because we like you, we want you to make money too!
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