Risk-on session 😂

Wednesday #26 - August 3, 2022

Cryptoland

Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation | Lex Fridman Podcast

Solana Wallets Targeted in Latest Multimillion-Dollar Hack

Some users of software Solana wallets, including Phantom and Slope, are having funds drained from them. Blockchain auditors OtterSec report that the attack is still active and that over 8,000 wallets have already been hacked. A number of Solana addresses have been linked to the attack (1, 2, 3, 4), and those wallets amassed SOL, SPL, and other Solana-based tokens valued at at least $5 million from unsuspecting users.

What are Rug Pulls and How to Avoid Them?

NFTs

How NFTs can boost fan engagement in the sports industry

The Web3 area is being expanded by real-world companies like collectibles thanks to fan engagement networks. The inclusion of contemporary ways for fans to interact with their favorite teams and players as well as the creation of new revenue streams for sports leagues make nonfungible tokens a perfect approach to draw in younger, more tech-savvy people.

Sports leagues in particular have realized the importance of fan interaction and have developed platforms where fans can purchase, possess, and exchange digital keepsakes. The National Basketball League's NBA Top Shots NFT marketplace, where fans can buy, sell, and trade basketball video clips, is one well-known example. 

WEB 3.0

How Crypto and Esports Are Fueling Each Other’s Growth

Both esports and cryptocurrency are dominated by young, tech-savvy adults who grew up around the video game industry, therefore there is a strong overlap in the participants. They cherish digital goods and have seen as esports and cryptocurrency have grown from niche pursuits into sizable industries.

The agreement between FTX and TSM is not only the largest publicly publicized financial partnership between crypto and esports companies; it's an ideal case study. Remarkably, the discussions eventually ended in the $210 million deal.

Cybersecurity in Web3: Protecting Yourself (And Your Ape JPEG)

The Federal Trade Commission reported in June 2022 that since 2021, approximately $1 billion in cryptocurrencies has been stolen. 

Along with cryptocurrencies, NFTs, or non-fungible tokens, have grown to be a popular target for scammers; according to Web3 cybersecurity company TRM Labs, the NFT community lost an estimated $22 million to scams and phishing attempts in the two months following May 2022.

When storing digital assets, consider hardware or air-gapped wallets. These "cold storage" gadgets keep your cryptocurrency off the internet until you are ready to use it. Although using browser-based wallets like MetaMask is common and practical, keep in mind that anything connected to the internet is vulnerable to hacking.

Original digital art generated by DALL E 2