ZachXBT

1/ Multiple projects tied to Pepe creator Matt Furie & ChainSaw as well as another project Favrr were exploited in the past week which resulted in ~$1M stolen

My analysis links both attacks to the same cluster of DPRK IT workers who were likely accidentally hired as developers.

1/ An investigation into how the New York based social engineering scammer Daytwo/PawsOnHips (Christian Nieves) stole $4M+ from Coinbase users by impersonating customer support, bought luxury goods, and lost most of the funds gambling at casinos.

The crime supercycle is indeed very real.

While it’s true the industry has historically been ripe for abuse it has noticeably increased since politicians launched meme coins and numerous court cases were dropped further enabling the behavior.

Laundering groups and small OTC brokers have seemingly won the battle for Lazarus Group after successfully laundering recent hacks (Bybit, DMM Bitcoin, WazirX, etc) with ease. I estimate the Black U market on Tron is no less than $5-10B and largely unattributed.

A number of teams sit and watch collecting fees doing nothing when >50% of the activity for their protocol comes from stolen funds.

Influencers and KOLs face zero repercussions for scamming followers / projects.

Courts siding with smart contract exploiters due to outdated laws.

Can we fix the system if the vast majority of people still do not care unless they lose money?

It's concerning about what the long term ramifications may be even if these decisions benefit us in the short term.

If you ever wanted the opportunity to extract from the industry there's not been much of a better time.

Take a chance what's the worst thing that could happen if everyone's already doing it?

That said there's never been a worse time to be doing black hat (phishing, social engineering, robberies) vs gray hat activity when the current environment is favorable.

Surely this time is different…

1/ Community Alert: At least one team member from the $30M Zkasino exit scam appears to be involved with the project @WhiteRock_Fi $WHITE due to onchain transactions linking both projects and a personal email address.

Here’s more lore about Malone Lam we uncovered during the $243M Genesis Creditor theft.

On June 23, 2024 Mark Cuban fell victim to a social engineering scam losing crypto assets from his public wallet markcuban.eth

We noticed the exact same device indicators in the Cuban theft as the $243M theft across multiple transactions where funds were laundered.

Yesterday the superseding indictment was unsealed that hints at Lam and Chen’s involvement in Cuban’s theft with a matching date/amount.

Theft address
0x733ea491051929d0b6619425e088d210deb5cbe6

1/ In late 2023 a former Yuga Labs security researcher was stopped at the airport after law enforcement mistakenly linked them to a $1.1M phishing theft from a Bored Ape owner.

Here’s an investigation into where the stolen funds went and who’s actually responsible.

Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)

Theft address
bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g

Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike 50%.