😱 Hackers Are Holding Markets Hostage & How to Stay Safe

GM 👨‍👩‍👧‍👦

Seedphrase Daily 👋 We break down crypto so simply even your grandma can understand. o give her a kiss.

Today’s Agenda 📓:

• 🥷 Nomad Token Bridge was Drained of $190,000,000 in Funds.

• 👨‍💻 Solana wallets get hacked and millions were stolen! How to stay safe.

• 😱 How a U.K man will find $176,000,000 worth of Bitcoin.

• 🧥 Gucci is now accepting ApeCoin as payment

🥷 Nomad Token Bridge was Drained of $190,000,000 in Funds.

Nomad is a token bridge that allows the transfer of tokens between Avalanche, Ethereum, Evmos, Milkomeda C1, and Moonbeam.

Recently the bridge fell victim to a security exploit that allowed hackers to systematically drain a large portion of the bridge's funds over a long series of transactions.

A total of $190.7M was stolen, only leaving the main wallet with $641.54.

How did they take so much? 💰

The hacker(s) deployed an unusual strategy to remove the tokens, which made them go under the radar for a bit longer.

Tokens were removed in equivalent denominations of 202,440.73 USDC over 200 times until the wallet was completely drained.

Who did it? 👤

We don't know.

So far, only one white hat hacker has come out and offered to return the funds. He goes by the name of Notifi Bot, but nothing is confirmed.

Nomad's plan 🗺

Community Theory 🧠

The hack was a community activity from white hat hackers to test the security of different chains. Nomad was one of many that will happen in the next few weeks, and soon enough, they will return the funds… Hopefully

Take a shot every time we say hack.

👨‍💻 Solana wallets get hacked and millions were stolen! How to stay safe.

Solana can't catch a break 😥

Hackers got access to over 5,000 wallets from across Fantom and Slope, managing to steal over $7M.

This is what happened. 👇

Updates on the event 📰

Phantom's statement ✏️

With all these hacks, you've gotta get smart.

This is how you can save yourself from being robbed:

1. Go to >Settings on your @phantom wallet

2. >Trusted Apps

3. >Revoke Permissions for any suspicious links

4. Move ALL your assets to a ledger/cold storage so that they cannot be affected by online hacks.

😱 How a U.K man will find $176,000,000 worth of Bitcoin.

Nearly ten years ago (2013), James Howells accidentally threw away his flash drive containing 8,000 BTC. Now, he's dumpster diving in search of $176 million dollar fortune.

Yes. This is real.

The Operation 📁

He has an $11 million business plan to rescue his BTC and will use investors and the Newport City Council to help excavate a landfill.

The proposal will require digging through 110,000 tons of trash piled up over three years with Boston Dynamic robotic dogs to scan for the flash drive.

You read that right. He's using cyborg puppies.

James has received backlash from the local government for the environmental impact on the surrounding area, as greenhouse gasses like methane can be unearthed.

But, now you know:

There is a USB with 8,000 BTC in a landfill. The hunt begins 🕵️‍♂️

Here's the location!

🧥 Gucci Now Accepting ApeCoin as Payment

The biggest name in luxury fashion already accepts Bitcoin, Litecoin, Doge, and other crypto's and has just added ApeCoin to that list! With that, they will become the first brand to accept Yuga's token for real-world use.

Gucci's initiative in Web3 🎬

Gucci already has a dedicated team for Web3 and gaming initiatives. The firm launched a game on Roblox called Gucci Garden, which has 19 million visitors.

And also created "skins" for avatars in games like Animal Crossing and Pokemon Go.

All these big franchises entering the space makes you think of the future potential of blockchain. 🔮

If you enjoyed this email show a friend so you can both stop losing brain cells.

Meme of the Day Solana beat down.

See you tomorrow! ✌️

Disclaimer: None of this is financial advice. This newsletter is strictly educational and is not investment advice or solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research!