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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.
If you loved the newsletter, message us! If you hated the newsletter, message us! We’re always looking for fresh perspective on things to cover and feedback to make your experience better!
Have an awesome week ahead!
Team Cypherock
What we’re covering this week:
- You’re Doxxed, learn to protect your privacy 🔎
- Nym: Building Privacy Infrastructure 🙌🏽
- Attack on AAVE ☠️
- Kraken CEO on Binance 📈
- A special gift from Cypherock 🔥
Security Digest
You're DOXXed, Learn to Protect your Privacy
As per updates to ConsenSys’ privacy policy, when you use Infura as your default remote procedure call (RPC) provider in MetaMask, it will collect your IP address and your Ethereum wallet address whenever you make a transaction.
Joseph Lubin justified, Logging of Blockchain address and IP Address is important because of two simple reasons:
- The blockchain address is necessary because it is part of the request sent to a blockchain.
- The IP address is also required in order to route the response back to the requester.
But, How to keep your privacy protected?
Let’s start by understanding what happens in the backend.
Whenever you interact with a Dapp there are three components interacting with each other, namely Wallet, RPC and Node. Wallet uses RPC to connect with the Node(In case you do not run your own Node). This means the RPC provider by default gets your IP and address.
Okay, so running your own node helps your prevent being tracked? Sadly, no. One can track nodes + addresses over p2p via sent transactions because of Networking and P2P Scrapers.
Steps to keep your privacy protected while using private wallets:
- The most obvious solution is using a good VPN, but most VPNs log your activity and link it to your account. This can be used to evade your privacy. So, choose a VPN that doesn’t log your activity. IVPN is a good one that gets recommended a lot. Otherwise you can use blockchain-based dVPNs like Sentinel etc.
- Switch from Metamask to a wallet that anonymizes your IP when you interact with contracts or make transactions. BlockWallet is a good example of this type of wallet.
- If still you don’t want to make the switch to another wallet, then you can change RPC that connects to your wallet. Unmarshal and Alchemy are two options.
- Other good privacy-protecting practices involve using a Dapp
Dapp News
NYM: Building next generation of privacy infrastructure
Existing internet protocols leak sensitive data that can be used without users knowledge — Nym is developing the infrastructure to prevent this data leakage by protecting every packet’s metadata at the network and application layers.
While existing blockchain technologies like Zcash can protect user privacy on-chain using zero-knowledge proofs, they still rely, like all internet-facing applications and services, on the network layer itself to transfer data between machines.
Nym provides full-stack privacy so any application, service or blockchain can defend its network traffic against even the most sophisticated surveillance systems, pooling resources without the need to build privacy from scratch, while maintaining operational and financial sustainability.
Twitter Tales
Avraham Eisenberg, who recently rose to fame after his famous Mango Market strategy, again tried a strategy. This time target was AAVE. But it didn’t go as expected.
Strategists: 0, DeFi: 1
Reddit Reads
Kraken CEO calls Binance’s Proof of Reserves pointless. His reasoning: POR’s are pointless if liabilities and negative balances aren’t included in them.
Kraken CEO’s reply to Binance POR from r/CryptoCurrency
Crypto Alpha
We have got something special for you starting this week. The crypto industry has been expanding at such fast pace that it is getting impossible to stay ahead of the market for an individual investor. So, we decided to do the work and find some Alpha for you!
This week we got the guide to Shardeum Network Airdrop.
Not Financial Advice*
Updates from Cypherock
It has been a busy week for Cypherock Social Media. Announcements are flowing faster than ever. Check out all that’s new.
- Cypherock X1 now Supports Polygon and Solana.
- Aren’t GIFs the new information communicators?
- Catch Rohan, Co-Founder, Cypherock at The MetaRoy Podcast
- And at last the most important announcement:
[Black Friday Sale] Cypherock X1 at 75% off. Use code NOSEED75
Stay tuned for updates.
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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Sign up to become a Cypherock Affiliate!
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