?? How this NFT scammer got scammed

Namaskara! This is your doodhwala, your daily crypto motivation, with us you can:

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• An NFT scammer just got scammed
• Did Wintermute plan the $160 million hack?
• Chaach and Charts
• Milky Meme of the Day

An NFT scammer just got scammed?

Karma just came for an NFT influencer who promoted a bunch of scammy projects.

Meet Jason Falovitch:

• crypto entrepreneur and sports manager
• CryptoPunks, BAYC, MAYC collector
• recent hack + Karma victim

Earlier this week Jason got hacked for:

???1 Bored Ape

?? 1 Mutant Ape

???2 doodles

? 5 ETH

The value of these NFTs and ETH?

A cool $150k or Rs 1.2 crore.

But Crypto Twitter is crying KARMA at Jason’s loss.

Why?

Jason co-founded a company called?Leverage Media?with Mark Cuban. The same Shark Tank Mark Cuban.

He’s owns a sports franchise and scammed investors of millions. Rings a faMallya bell?

Using Leverage Media — Jason and Mark collected + promoted NFT projects.

“Jason and Mark” sounds like the whitest duo ever

J&M Boyz < Island Boys

Here’s what they did:

• set up the @NFT handle on Twitter + Instagram
• bought fake followers
• paid influencers and celebs
• pumped through fake collabs

These projects collaborated with everyone from the Lion King to M&M'S to Dora The Explorer.

Those are better connections than Amit Shah’s son. ??

Check out their collab page on the website:

And how much did they charge for all of this?

About $100k (Rs 81 lakh) per project promoted.

They promoted 36 projects, amassing about $3.6 million or Rs 30 crore. Of these:

• 4 were rug pulls
• 30 are trading below their floor price
• only 2 are trading above their floor price

??

A 6% success rate! That’s worse than me with all my JEE papers ??

J&M’s charade was taken down by another J&M duo — Jack (Dorsey) and Mark (Zuckerberg) when Twitter and Instagram suspended the @NFT account.

With such a bad-rep, it’s clear why Jason is not getting much sympathy from the crypto community for his NFT hack

Doodhwala’s take:?We love some well-deserved karma in the crypto world, after all, we’re Indians, we invented the world karma.??

We’re going LIVE on Twitter Spaces!

We’re going live with the?Flappy Musk?and?Whack A Tate?team to talk about:

???How to build a P2E game in web3? ??

Set a reminder here:

Or simply say, “SIRI, set a reminder for tonight at 9PM for the doodhwala’s dope Twitter Space”

You’re welcome ??

OHH, and you can win $MATIC by retweeting and asking dope Qs

Did Wintermute plan the $160 million hack?

Last week, Wintermute was hacked for $160 million, and this week we’ve got leads on who it might be.

The answer is shadier than you think. ??

What’s Wintermute? ???A crypto market maker.

What’s a market maker?

“A market maker is an individual or a company affiliated with an exchange that buys and sells securities for its own account.”

They basically make sure that you have someone on the other end when you wanna pump or dump that shitcoin ??

When they were hacked last week,?rumours?floated that it was an inside job.

Why tho? Because of two whoopises:

• Wintermute?used?the Profanity Wallet generator (to generate a custom address) and Profanity itself was siphoned off $1 million earlier this month
• Wintermute’s hacked funds were kept in a hot wallet (a wallet connected to the internet)

That’s like picking Harry Maguire in your team and then making him play as a striker

One decision is bad and the other is just ridiculous.

More recent rumors rose up with BIG inside-job accusations.

The accuser - a blockchain analyst named Librehash (sounds like an analyst tbh)

Here’s what he accused Wintermute of:

???Accusation #1:?Wintermute’s team didn’t verify or publish the contract source on Etherscan

???Accusation #2:?An insider did this because they knew what the necessary smart contract execution was and what functions to call

???Accusation #3:?Wintermute received 2 incoming deposits from Kraken and Binance for $13.4 million USDT one minute before the hack which drained exactly $13.4 million in USDT

Even if you’re being easy on them, the last accusation seems alarming.

I mean, why would Wintermute send exactly $13 million to a wallet that’s getting hacked?

Who’s handling their internal transactions? This guy?!?

And why would the exact amount be siphoned away?

Hell if we know! ?? ♂?

But we’ll be keeping an ?? on this while munching on some ??

This is more exciting and more scandalous than Koffee with Karan ??

Chaach and Charts

In crypto, we really like to HODL

And some people take it waaayy too seriously

How seriously?

Check this: Close to a fourth of all Bitcoin in circulation has not moved in 5+ years

That’s 4.7 million BTC worth nearly $100 billion or Rs 7.8 lakh crore! WTF

Someone’s got STRONG DIAMOND HANDs

Milky Meme of the day

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That’s all for today bhaiyo aur bheno! Naale Sigona!