(17-Jul-20) This Week in Crypto:
This week was an interesting one.
- Twitter accounts of many major celebrities and influencers were hacked this week. The hackers used their near-limitless power not to start WWIII, but to ask for Bitcoin. So far, the hackers have received over £200,000 in BTC at their two main addresses. Compromised accounts included Binance, Bill Gates, Barack Obama, and Elon Musk.
- Uniswap’s Public Initial Offerings are becoming more common. Arbitrage bots are taking advantage of this process by legally exploiting the method by which Uniswap prices its assets. This led to one trader making $1 million in 30 minutes of BZRX going public. This occurred mostly due to the bot front-running their transactions before the general public could get a piece of the pie. Our team at Vega has put a lot of thought into ensuring “Fairness” in trading systems, so do check out our AMA on this very topic!
- Chainlink came under fire from Zeus Capital. The asset management and research firm released an “exposed” document, detailing why they think Chainlink will go to 0. Their account was banned from Twitter shortly after and many are accusing them of spreading FUD to please their investors. We have no official stance on the matter but would advise those interested to read the document and make their own judgments.
This Week’s Top Crypto Conversations:
- How someone made $1mil in 30 mins exploiting the BZRX Uniswap offering:
- Zeus Capital’s Chainlink Exposed Document:
- Naval on how innovation works:
- DeFi hits $2bn in funds locked up: