Keep the ‘technology’ talks by the side; only a few really care about it anyways. $190 million in a day is the perfect definition of ‘quick bucks.’ While the random cryptocurrency investor spends most of his sleep time dreaming of 1/10th of that figure, a Blackhat investor is living his dream, ten times. The biggest part of the story, but not the only one. Would love to introduce you to the first (and probably last) part of our Keeping up with the Solanas series. I get it; there’s no way you will enjoy that if your wallet was drained overnight.
You might be counting your losses due to the bear market, but hackers and ‘exploiters’ are carting away with life-changing figures in their successful plays. Old Optimism users smiled home with a few thousand OP tokens as their airdrop rewards, a certain exploiter has an even bigger reason to smile. Over 20 million OP tokens gained, no thanks. Depending on when you read this article, this could be worth some pretty figures.
Through seasons and cycles, millions of dollars worth of cryptocurrencies are lost to scammers and hackers in numerous ways. Phishing attacks, giveaway scams, exchange hacks, protocol exploitations…you name it. As technology advances and space grows, the security of assets dwindles as well. Tricks to strip holders of their investments are evolving every day, and these sets of people are seeing more success than everyone else, regardless of the season.
I’d have taken coding more seriously if anyone told me there are millions of dollars in it for me. Quick ones and grossly easier. Well, the easy part is arguable. These exploitations are carried out by taking advantage of some loopholes in underlying codes through complex processes. These events are always traced down to a vague figure while the affected team finds a fix. The majority of DeFi protocols have suffered similar ‘exploitation,’ and each time, this is not traced back to the project teams. But exit scams have dropped in frequency…well, I don’t like coincidence!
The time you spend bridging your tokens across different networks will be more yielding if you invest it in hacking classes and hacking the bridging platform itself. That advice is worth $190 million, depending on how you take it. More decent advice, stick to the normal process. But the race to those good easy bucks isn’t as easy as predicted. The profits and losses are part of the thrill. The money comes fast, three-digit percentage gains in 24hrs, no other investment sector offers that currently…none that I know of. Successful cryptocurrency investments can be life-changing, otherwise… The reality is, money is lost as fast as it is gained.
Apart from trading, the crypto space is home to a long list of earning opportunities. Developers earn life-sustaining salaries by working on personal projects or getting hired by blockchain start-ups. Popular artists and even less popular ones have made seven-figure returns from selling their digital multimedia on NFT marketplaces. The bull season saw traders and Holders make jaw-dropping gains from their old and new investments. Cryptocurrency has created an incredible number of millionaires.
Advising you on wallet safety tips might be ironic at this point. A point where even keeping your investments in your personal wallets and saving your private keys can’t even keep you from getting hurt. The ghost is busted, but it’s not just phantom, it’s the whole crypto space. The fading reputation isn’t even as concerning as the declining safety levels. The banks should be laughing along with the hackers laughing to them. Maybe if you take your hacking classes seriously, you will be laughing with them too…Not Financial Advice.
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