The Unchained Web Daily #119

If you enjoy and find value in the newsletter, please feel free to donate for its upkeep and independent nature as much as you think is fair:

Monero Wallet Address:

42EkgN23XZoLJXrgMJjrRM7jYpmirk1WvWUWc2SDF6kZAXVzHMGy5XB8JM8Vce3iHGKh9H8ACWF9J6ErrfKCP48mL2yeWcw

Bitcoin Wallet Address: bc1q4283c60tv2p7exfeu2ql7dk2n7utswgl43n2fk

ETH & ERC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

BNB & BRC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

Reclaim (some) Privacy Webinar Series: Intro to SearXNG & other privacy engines

In April, I am planning my first webinar in a series focused on privacy. The specific webinar will be focused on why Google may not be the best search engine to use and the SearXNG meta search engine and how it can be used to enhance privacy when using a search engine to research or find something to one's interest.

If you are interested in the topic, feel free to click "attend" on the link to the event below: https://www.dhirubhai.net/events/7167975601373458433/about/

Uniswap Developer Accused of Rugpulling $26K From Meme Project

Accusations surfaced that AzFlin, developer of FrensTech, engaged in a rug pull on the memecoin project. UniswapVillain alleged AzFlin removed 14 ETH in liquidity, while AzFlin denied this, claiming to have only taken back the 1 ETH he initially contributed. UniswapVillain linked AzFlin to Uniswap through follower analysis. On-chain data showed transactions suggestive of a rug pull, prompting calls for Uniswap's involvement. Uniswap remained silent on the matter. This incident follows previous rug pull occurrences on the Base network. Despite such actions, Base's community usage and assets locked on the network continue to grow. Click here for more.

Gemini’s Cameron Winklevoss Mocks DCG’s Lawsuit Reply

Gemini's CEO, Cameron Winklevoss, criticized DCG's response to their lawsuit over the failure of subsidiary Genesis. He called DCG's denial of involvement in the Gemini Earn program a weak legal defense. Winklevoss accused DCG's CEO, Barry Silbert, of avoiding accountability and exploiting technicalities. DCG filed a motion to dismiss the lawsuit, portraying it as a smear campaign. Gemini responded by launching an XRP giveaway, aiming to attract users to their platform. Despite relisting XRP and supporting the XRPL blockchain, Gemini faced challenges, with the token's value reaching $50 due to liquidity issues. Click here for more.

Senator Lummis Files Brief Supporting Coinbase Motion to Dismiss SEC Suit

Republican representative Cynthia Lummis submitted an amicus curiae brief on August 11, arguing that the SEC lacks congressional authority to regulate crypto assets. She contends that defining crypto regulations is Congress's role, not the SEC's. The brief criticizes the SEC's broad interpretation of securities and urges the court to reject it. Lummis emphasizes the need for clear regulatory rules to maintain the US as a financial innovation leader. Amicus briefs supporting Coinbase were also filed by crypto advocacy groups. The SEC had sued Coinbase, accusing it of unregistered brokerage activities and selling unregistered securities. Click here for more.

Custodia Bank Now Accepting US Dollar Deposits, Adding Bitcoin Custody

Crypto-friendly bank Custodia has gained approval from its bank regulator to accept dollar deposits and plans to offer Bitcoin custody services for customers in select U.S. states. The bank is also providing U.S. government money market fund services. Custodia believes that regulated custodians, specifically banks, are essential for the industry's growth due to their superior customer protections. The bank is currently available only to business customers and is proceeding cautiously in its rollout. Custodia has a pending lawsuit against the Federal Reserve over its denied application to join the FedWire network, a move that could provide access to a vast transaction network. Despite challenges, Custodia plans to launch its Bitcoin custody service once it receives final regulatory clearance. Click here for more.

Sam Bankman-Fried Is Going to Jail, Judge Revokes Bail Over Witness Tampering

Disgraced crypto mogul Sam Bankman-Fried has been remanded to jail after a bail hearing before U.S. District Judge Lewis Kaplan in New York. Judge Kaplan stated that a gag order wouldn't be sufficient to prevent Bankman-Fried from talking to the media. Bankman-Fried, the founder and former CEO of FTX, is likely to be detained at the Metropolitan Detention Center in Brooklyn. Federal prosecutors sought to revoke his bail due to allegations of witness tampering related to interactions with a New York Times reporter. Bankman-Fried is facing multiple charges, including conspiracy to commit money laundering and wire fraud on customers, with his trial expected to begin in October. Click here for more.

Ethereum Traders Make More Money After Being Scammed

A research paper found that Ethereum investors who were victims of cybercrime tend to achieve better returns afterward, surprising the authors. The study identified cybercrime categories on Ethereum, with Ponzi schemes accounting for 60% of stolen funds. Victims altered their risk-taking behavior by becoming more diversified and accepting controlled risks. The research revealed the FTC had underestimated Ethereum losses to scams by 16 times. The study indicates the maturation of the crypto market due to institutional involvement and changing scam structures. Conducting such research is costly but valuable for developing forensic tools to detect scams. Click here for more.

Bitcoin Mining Could Help Decarbonize Energy Grids, Researchers Say

An academic paper suggests that Bitcoin mining could help the environment with adaptations. Miners' characteristics could aid renewable energy grids by absorbing excess energy. Challenges include BTC price volatility and regulatory issues. The paper highlights the potential for Bitcoin mining to contribute to grid decarbonization. Click here for more.

Worldcoin opens up WLD reservations for unverified users

The iris-scanning crypto project Worldcoin has introduced a reservations feature in its World App, allowing unverified customers to reserve Worldcoin (WLD) tokens before verifying their World ID. The reservation is valid for 12 months, and users can later redeem their reserved tokens through an iris-scanning device called the Orb. Worldcoin aims to create a global database for humans to distinguish them from bots in the future, using biometric data-based IDs rewarded with native WLD tokens. The project, despite making bold claims, has faced regulatory issues in various countries, including Kenya, Argentina, and the UK, and its launch response has been mixed. Click here for more.

3AC co-founder avoids contempt charges following evidence of Singaporean citizenship

A judge in the bankruptcy case of the defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion to hold co-founder Kyle Davies in contempt of court and impose sanctions. The motion was related to a subpoena issued to Davies via social media platform X (formerly Twitter). The judge explained that he had considered the motion without knowing that Davies was a non-U.S. citizen residing outside the country. Davies had applied to renounce his U.S. citizenship and become a citizen of Singapore. The judge suggested that the foreign representatives could seek compliance through Singaporean courts, as the U.S. court lacks jurisdiction over Davies. The liquidators of 3AC are seeking to recover funds from the co-founders, who owe creditors billions of dollars. Click here for more.

Victim of 90 ETH exploit set to claw funds back after hacker was blacklisted

With the assistance of police and cyber authorities, a victim of a hack involving 90 Ether (ETH) has managed to have the attacker's Tether (USDT) address blacklisted, potentially allowing them to recover most of their stolen funds. The victim's hot wallet seed phrase was compromised, leading to the theft of Ethereum-based nonfungible tokens (NFTs) and other cryptocurrencies. The hacker's USDT address has been blacklisted, freezing $107,306 worth of USDT. While the victim may not receive the full value of their stolen funds, previous cases of USDT blacklisting have led to reimbursement by Tether, involving burning the blacklisted USDT and issuing new tokens to the original owner. The process generally follows a court order, but specifics for this case are still pending confirmation. The method used by the hacker to access the seed phrase remains unclear. Click here for more.

Curve Finance vows to reimburse users after $62M hack

Decentralized finance (DeFi) platform Curve Finance has announced its plans to reimburse users who were affected by a recent hack that resulted in $62 million in losses. The platform has recovered about 79% of the stolen funds and is actively investigating the incident. The hack targeted vulnerabilities within the Vyper compiler's release history, specifically versions 0.2.15 to 0.3.0. The attack impacted various token pools, causing concerns across the DeFi ecosystem. The attacker returned a portion of the stolen funds after a 10% bounty was offered. As of now, approximately 4,821 Ether (ETH) has been returned, worth about $8.89 million. Curve Finance aims to assess each impacted user individually for equitable reimbursement. Click here for more.

FC Barcelona secures $132M investment for blockchain and NFT venture

Spanish soccer club FC Barcelona has secured a 120 million euro ($132 million) investment from Libero Football Finance AG and Nipa Capital B.V. for its Web3 initiative, Bar?a Vision. This initiative aims to integrate all digital content around Web3 and blockchain, including NFTs and the metaverse, as part of the club's digital strategy. FC Barcelona sold a 29.5% stake in Bridgeburg Invest, the holding company for Bar?a Vision, in exchange for the investment. The transaction is pending approval from FC Barcelona shareholders and is expected to close in Q4 2023. This follows FC Barcelona's previous involvement in creating Ethereum-based FC Barcelona Fan Tokens and NFT collections. Click here for more.

If you enjoy and find value in the newsletter, please feel free to donate for its upkeep and independent nature as much as you think is fair:

Monero Wallet Address:

42EkgN23XZoLJXrgMJjrRM7jYpmirk1WvWUWc2SDF6kZAXVzHMGy5XB8JM8Vce3iHGKh9H8ACWF9J6ErrfKCP48mL2yeWcw

Bitcoin Wallet Address: bc1q4283c60tv2p7exfeu2ql7dk2n7utswgl43n2fk

ETH & ERC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

BNB & BRC-20 Address: 0xD16429e3F253f50CfF306B2bE8966ce935332116

Reclaim (some) Privacy Webinar Series: Intro to SearXNG & other privacy engines

In April, I am planning my first webinar in a series focused on privacy. The specific webinar will be focused on why Google may not be the best search engine to use and the SearXNG meta search engine and how it can be used to enhance privacy when using a search engine to research or find something to one's interest.

If you are interested in the topic, feel free to click "attend" on the link to the event below: https://www.dhirubhai.net/events/7167975601373458433/about/

Brought to you by Alexandros Dolgov CBA? (Study/Bitcoin)