TRANSKRIPTIO 🔗
1
00:00:00,080 --> 00:00:06,480
Welcome back to another episode of Bitcoin And
AI Data Centers, the podcast that dives deep
2
00:00:06,480 --> 00:00:12,804
into the world of data centers, artificial
intelligence, AI data centers, and all things
3
00:00:12,865 --> 00:00:14,005
Bitcoin and crypto.
4
00:00:14,544 --> 00:00:18,969
I am your host Roni, reporting from a secret
location Wakanda.
5
00:00:19,509 --> 00:00:23,689
And as always, we might have Satoshi Nakamoto
tuning in.
6
00:00:24,789 --> 00:00:36,750
Today, we have a packed episode with some
intriguing stories that you do not exploit on
7
00:00:36,750 --> 00:00:40,530
the BNB chain that has raised quite a few
eyebrows.
8
00:00:41,149 --> 00:00:48,244
Approximately $80,000 worth of Bitcoin was lost
in what appears to be a potential exploit
9
00:00:48,304 --> 00:00:50,725
involving multiple suspicious transactions.
10
00:00:51,840 --> 00:00:57,780
While $80,000 might seem like a relatively
small amount compared to other crypto exploits,
11
00:00:58,399 --> 00:01:03,064
it has nonetheless sparked an interesting
debate about the attackers intentions.
12
00:01:04,325 --> 00:01:10,484
According to on chain security firm civers, the
attacker could potentially be a white hat
13
00:01:10,484 --> 00:01:10,984
hacker.
14
00:01:11,439 --> 00:01:16,819
Also known as an ethical hacker who uses their
skills to find security vulnerabilities.
15
00:01:18,159 --> 00:01:24,765
In a May 28th post on x, cyber stated, the
total loss is approximately $80,000.
16
00:01:26,024 --> 00:01:31,780
The attacker received funding via tornado cash,
and has also interacted with the Binance
17
00:01:31,840 --> 00:01:35,140
exchange indicating a possible white hat
action.
18
00:01:36,295 --> 00:01:42,054
What makes this case particularly interesting
is the fact that the Exploder interacted with
19
00:01:42,054 --> 00:01:45,435
finance, the world's largest centralized
exchange.
20
00:01:46,340 --> 00:01:53,000
Typically sophisticated crypto hackers with
malicious intent avoid interacting with large
21
00:01:53,165 --> 00:01:59,724
centralized exchanges like finance, which
require know your customer verification, and
22
00:01:59,724 --> 00:02:03,180
could lead to discovering the identity of
malicious actors.
23
00:02:04,599 --> 00:02:11,819
This incident follows on the heels of another
high profile exploit involving gala games.
24
00:02:12,344 --> 00:02:19,564
Just a week prior, gala games was exploited for
$23,000,000 worth of gala tokens.
25
00:02:20,310 --> 00:02:27,604
According to Galla Games, co founder and chief
executive officer, Eric Sheermeier, the exploit
26
00:02:27,604 --> 00:02:32,905
occurred due to an issue with internal
controls, which the team has since fixed.
27
00:02:34,164 --> 00:02:43,060
In an unexpected turn of events, The hacker
returned $22,300,000 worth of ether, which was
28
00:02:43,060 --> 00:02:49,685
close to the market value of the 600,000,000
gala tokens they had stolen and sold a day
29
00:02:49,685 --> 00:02:50,185
earlier.
30
00:02:51,525 --> 00:02:58,199
The return of the funds came after Gala's co
founder and chief executive officer, Eric
31
00:02:58,259 --> 00:03:06,004
Scheer, revealed in a May 20th post on X and
Discord that the alleged attacker had been
32
00:03:06,004 --> 00:03:09,224
identified, including his home address.
33
00:03:10,639 --> 00:03:12,659
This is not an isolated incident.
34
00:03:13,519 --> 00:03:19,875
Earlier this month, $71,000,000 worth
cryptocurrency stolen from a recent wallet
35
00:03:19,875 --> 00:03:29,449
poisoning scam was returned turned the
$71,000,000 on May 12th after the high profile
36
00:03:29,509 --> 00:03:34,409
phishing incident caught the attention of
multiple blockchain investigation firms.
37
00:03:35,805 --> 00:03:42,604
However, on chain transaction suggest that the
attacker was not an ethical hacker, but a
38
00:03:42,604 --> 00:03:48,330
malicious actor who got scared of the
mainstream attention and decided to return the
39
00:03:48,330 --> 00:03:48,830
funds.
40
00:03:50,090 --> 00:03:52,909
So what do these incidents tell us?
41
00:03:53,284 --> 00:03:59,224
While the motives behind these exploits can
vary, the involvement of centralized exchanges
42
00:03:59,925 --> 00:04:06,960
and the subsequent return of stolen funds
indicate that the crypto community is becoming
43
00:04:07,180 --> 00:04:08,319
increasingly vigilant.
44
00:04:09,074 --> 00:04:14,514
Whether it is ethical hackers, exposing
vulnerabilities, or malicious actors having a
45
00:04:14,514 --> 00:04:20,199
change of heart, the landscape of crypto
security is continually evolving.
46
00:04:21,620 --> 00:04:28,254
Fatallic Booterin, co founder of Ethereum has
asserted that the crypto community has already
47
00:04:28,254 --> 00:04:31,154
claimed the right to butcher the word
inflation.
48
00:04:32,894 --> 00:04:40,029
Buterin's comments come as a response to a post
on x by digital media company Axios, which
49
00:04:40,029 --> 00:04:45,169
stated that the word inflation now means high
prices rather than rising costs.
50
00:04:46,154 --> 00:04:52,795
Despite Axios' tongue in cheek nature, X
community notes clarified that the definition
51
00:04:52,795 --> 00:04:54,574
of inflation is not changing.
52
00:04:55,870 --> 00:05:02,574
Buterin's Farcaster post debated Axios'
definition of inflation by insisting that the
53
00:05:02,574 --> 00:05:06,754
crypto community had already established the
redefinition of the word.
54
00:05:07,455 --> 00:05:13,600
According to Buterin, we already decided that
it now just means increase in the total supply
55
00:05:13,600 --> 00:05:14,339
of a currency.
56
00:05:15,360 --> 00:05:21,254
Buterin's rebuttal to the Axios post found
support from other forecaster users, including
57
00:05:21,394 --> 00:05:23,334
former Coinbase employee, bingey.deaf.
58
00:05:25,449 --> 00:05:31,069
Traditionally, inflation refers to the rise in
the general price level of goods and services,
59
Load full transcript
00:05:31,689 --> 00:05:35,185
which reduces purchasing power because money is
worth less.
60
00:05:35,725 --> 00:05:42,145
However, the semantic shift in culturally
redefining inflation as described by buterin
61
00:05:42,769 --> 00:05:48,930
suggests that ongoing global inflation results
from the total supply essentially being
62
00:05:48,930 --> 00:05:49,430
uncapped.
63
00:05:50,975 --> 00:05:56,895
Tech investor Lee Edwards criticized the
initial Axios tongue in cheek post saying you
64
00:05:56,895 --> 00:06:00,080
could educate your readers instead of
confirming their misconceptions.
65
00:06:01,020 --> 00:06:06,319
Buterin has recently taken to Forecast her
multiple times, pushing for community centric
66
00:06:06,379 --> 00:06:13,985
solutions and initiatives prioritizing privacy
preservation and exploitation fixes from
67
00:06:13,985 --> 00:06:20,870
proposing remedies to Ethereum's minor
extracted value problem to advocating for 0
68
00:06:20,870 --> 00:06:22,970
knowledge proof social media augmentation.
69
00:06:24,144 --> 00:06:28,324
Buterin's involvement in the decentralized
community should be no surprise.
70
00:06:28,944 --> 00:06:33,970
However, he has yet to comment on the growing
community concerns regarding Ethereum found
71
00:06:34,129 --> 00:06:39,189
researchers, Dankrad Fice and Justin Drakes
joining the ranks of Eigen Layer.
72
00:06:40,370 --> 00:06:46,324
The decision to become advisors at Eigen Layer
in exchange for substantial compensation in
73
00:06:46,324 --> 00:06:50,824
eigen tokens sparked significant debate in the
crypto community.
74
00:06:51,970 --> 00:06:56,949
Some community members supported the
transparency of the disclosures while others
75
00:06:57,169 --> 00:07:03,735
slammed the decision, suggesting that the huge
compensation would influence decision making.
76
00:07:04,915 --> 00:07:09,415
In our final story today, we have an
interesting and somewhat concerning development
77
00:07:09,634 --> 00:07:16,400
involving Australian musician Iggy Azalea, and
an alleged serial scammer named Sahil Arora.
78
00:07:17,020 --> 00:07:23,584
The story revolves around a new Celebrity Mem
coin that raised over $300,000 in a token
79
00:07:23,584 --> 00:07:24,084
presale.
80
00:07:25,425 --> 00:07:30,889
The token carrying Azalea's name has quickly
become a hot topic in the crypto community.
81
00:07:32,230 --> 00:07:37,944
According to posts from Azalea's account on x,
She has distanced herself from the project,
82
00:07:38,564 --> 00:07:43,704
making it clear that she had no involvement in
the presale orchestrated by Aurora.
83
00:07:44,939 --> 00:07:50,779
Basically, I was interested in making a
legitimate coin with utility, but Sahil tried
84
00:07:50,779 --> 00:07:54,444
it and thought I wouldn't see his weirdo little
presale telegram stuff.
85
00:07:55,085 --> 00:07:58,225
Hazalia's account stated in a now deleted post.
86
00:07:59,404 --> 00:08:05,160
This is not the first time Sahil Arora has been
linked to questionable activities in the crypto
87
00:08:05,160 --> 00:08:05,660
space.
88
00:08:06,360 --> 00:08:11,019
He has been accused of several scams, including
rug pulls on the avalanche blockchain.
89
00:08:11,915 --> 00:08:17,455
These rug pulls reportedly earned him small
amounts in stolen fees, but the cumulative
90
00:08:17,595 --> 00:08:20,415
impact has been significant for the victims
involved.
91
00:08:22,000 --> 00:08:26,819
Aurora's reputation took another hit when
American rapper reached the kid publicly
92
00:08:26,879 --> 00:08:32,605
accused him of hacking his ex account to
promote a recently launched token called Rich.
93
00:08:33,465 --> 00:08:38,899
Additionally, Olympic medalist Caitlin Jenner
claimed that Aurora scammed her during her own
94
00:08:38,899 --> 00:08:43,639
token launch, which initially reached over
$40,000,000 in market capitalization.
95
00:08:45,595 --> 00:08:52,415
Gener's token, however, lost about 50% of its
peak market cap shortly after its launch.
96
00:08:53,595 --> 00:08:59,080
This week, Aurora's alleged illicit activities
have drawn public attention due to his
97
00:08:59,080 --> 00:09:02,460
involvement in various celebrity meme coin
projects.
98
00:09:03,715 --> 00:09:10,274
A telegram channel has detailed a recent token
launch campaign where participants accused
99
00:09:10,274 --> 00:09:16,209
Aurora of conducting a rug pull, a common exit
scam in the MIMCOIN scene.
100
00:09:17,309 --> 00:09:24,815
1 investor from that project who spoke to Coin
Telegraph on the condition of anonymity said
101
00:09:24,815 --> 00:09:29,600
that the liquidity was removed within 5 minutes
of the coin's launch.
102
00:09:30,220 --> 00:09:36,480
If I can remember vividly, I don't think he got
more than 6 to 8 Avacs for Rich.
103
00:09:36,904 --> 00:09:38,205
The investor recalled.
104
00:09:39,304 --> 00:09:45,899
Despite these accusations, Aurora denies that
his campaigns are scams, claiming that people
105
00:09:45,899 --> 00:09:49,039
couldn't time write entries so they got burned.
106
00:09:50,940 --> 00:09:58,915
Aurora has had a controversial past with a 2017
article from the times of India reporting that
107
00:09:58,915 --> 00:10:03,259
he dropped out of Pathway School to launch a
taxi application.
108
00:10:04,039 --> 00:10:10,665
He has since founded numerous businesses,
including the payments project ZillowPay, and
109
00:10:10,665 --> 00:10:13,485
the influencer platform, Habibi.
110
00:10:14,745 --> 00:10:19,485
However, allegations of misconduct have
followed him throughout his career.
111
00:10:20,490 --> 00:10:26,730
A former contractor for Zillapay, a e, claimed
that Aurora failed to pay him 800 British
112
00:10:26,730 --> 00:10:30,584
pounds he was owed in he threatened to report
Aurora to the authorities.
113
00:10:32,084 --> 00:10:38,799
Adding to the list of controversies, VJ Shekhar
Sharma founder of Indian payments giant Paytm
114
00:10:39,420 --> 00:10:43,759
publicly accused Aurora of identity theft in
2017.
115
00:10:44,625 --> 00:10:50,945
Despite these numerous allegations, Aurora
continues to deny any wrongdoing stating that
116
00:10:50,945 --> 00:10:53,365
tons of people make big from my launches.
117
00:10:53,720 --> 00:10:55,500
The few that don't become haters.
118
00:10:56,840 --> 00:11:04,315
As this story unfolds, it serves as a stark
reminder of the risks involved in the crypto
119
00:11:04,375 --> 00:11:11,120
space, especially when it comes to memo coins,
and celebrity endorsed projects.
120
00:11:12,299 --> 00:11:15,360
Always do your due diligence before investing.
121
00:11:15,955 --> 00:11:19,575
And be wary of projects that seem too good to
be true.
122
00:11:20,754 --> 00:11:24,934
That wraps up today's episode of Bitcoin and AI
data centers.
123
00:11:25,289 --> 00:11:29,690
Thank you for joining us as we navigated
through some of the most intriguing stories in
124
00:11:29,690 --> 00:11:35,625
the world of data centers, artificial
intelligence, AI data centers, Bitcoin, and
125
00:11:35,625 --> 00:11:36,125
crypto.
126
00:11:36,745 --> 00:11:43,049
Stay vigilant, stay informed, and until next
time, This is Ronnie signing off from my secret
127
00:11:43,049 --> 00:11:44,110
location in Wakanda.
128
00:11:44,809 --> 00:11:45,629
Take care.