This week we take on a new format and run through some of top degen stories of the week before digging into a conversation on the suspected Coinbase insider trading. We end the show with a discussion about Elon Musk's attempt at a hostile take over of Twitter.
Each week we track down and explore the most interesting crypto stories we can find. We examine scams, hacks, defi exploits, and anything that feeds our crypto curiosity. Welcome degens! Come one, come all.This weeks show - evolving format, testing something new. Start with a run down of this weeks most wild and interesting crypto degen stories.
1) Week in review
Crypto, DeFi, & NFT hacking
Elephant Money Flash Loan Attack Nets hacker 22.2 Million USD in various tokens from the treasury - Rekt.news, @BlockSec, Elephant Money
Tornado Cash uses @chainalysis oracle contract to block OFAC sanctioned addresses from accessing the dapp.Maintaining financial privacy is essential to preserving our freedom, however, it should not come at the cost of non-compliance.
Starting immediately and as part of an effort to increase transparency by providing as much information symmetry as possible, Coinbase will be using this blog post as a pilot to communicate assets under consideration for listing in Q2 2022 (April 1st, 2022 to June 30th, 2022).
The article inspired fears of insider trading and caused degens to hit the blockchain to see what they could find. Before we dig in, it’s worth noting that this is not a new issue for Coinbase. The BCH Coinbase insider trading issue was a thing in 2019
Earlier today Coinbase made a “transparency post” naming about 50 assets that they are planning to list on their exchange. Most of them are illiquid shitcoins that no one can figure out why they are even listing in the first place.
Nansen AI, blockchain analytics, and intelligence platform. They do a lot of cool stuff, but in this context, the smart money dashboard lets you track flows of coins going to and from smart trader's accounts.
So the tricked the Nansen.ai into making it look like this coin was pumping:
So, it looks like people gaming Nansen to make it look like honeypot/scam tokens are pumping. clever. But what does this have to do with coinbase? Nothing, so lets look at another:
Who Social media has a suspect but idk… it’s pure speculation. This guy was let go from OpenSea for front running NFT collections based on his insider info, and now he works at Coinbase.
What is r/LeopardsAteMyFace?
‘I never thought leopards would eat MY face,’ sobs woman who voted for the Leopards Eating People’s Faces Party.
Crypto people are aware of regulations…
Takeaway:
Weekly reminder, be wary of what you read.
Seems likely that private information from Coinbase is making it’s way out and someone is profiting off that info.
If that is the case, it’s going to be hard for them to cover their tracks. It might not happen right away, but my bet is that someone gets busted on this.
