TRANSCRIPT 🔗
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Welcome back to another episode of Bitcoin And
AI Data Centers, the podcast that dives deep
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into the world of data centers, artificial
intelligence, AI data centers, and all things
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Bitcoin and crypto.
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I am your host Roni, reporting from a secret
location Wakanda.
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And as always, we might have Satoshi Nakamoto
tuning in.
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Today, we have a packed episode with some
intriguing stories that you do not exploit on
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the BNB chain that has raised quite a few
eyebrows.
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Approximately $80,000 worth of Bitcoin was lost
in what appears to be a potential exploit
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involving multiple suspicious transactions.
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While $80,000 might seem like a relatively
small amount compared to other crypto exploits,
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it has nonetheless sparked an interesting
debate about the attackers intentions.
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According to on chain security firm civers, the
attacker could potentially be a white hat
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hacker.
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Also known as an ethical hacker who uses their
skills to find security vulnerabilities.
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In a May 28th post on x, cyber stated, the
total loss is approximately $80,000.
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The attacker received funding via tornado cash,
and has also interacted with the Binance
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exchange indicating a possible white hat
action.
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What makes this case particularly interesting
is the fact that the Exploder interacted with
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finance, the world's largest centralized
exchange.
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Typically sophisticated crypto hackers with
malicious intent avoid interacting with large
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centralized exchanges like finance, which
require know your customer verification, and
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could lead to discovering the identity of
malicious actors.
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This incident follows on the heels of another
high profile exploit involving gala games.
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Just a week prior, gala games was exploited for
$23,000,000 worth of gala tokens.
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According to Galla Games, co founder and chief
executive officer, Eric Sheermeier, the exploit
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occurred due to an issue with internal
controls, which the team has since fixed.
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In an unexpected turn of events, The hacker
returned $22,300,000 worth of ether, which was
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close to the market value of the 600,000,000
gala tokens they had stolen and sold a day
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earlier.
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The return of the funds came after Gala's co
founder and chief executive officer, Eric
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Scheer, revealed in a May 20th post on X and
Discord that the alleged attacker had been
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identified, including his home address.
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This is not an isolated incident.
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Earlier this month, $71,000,000 worth
cryptocurrency stolen from a recent wallet
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poisoning scam was returned turned the
$71,000,000 on May 12th after the high profile
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phishing incident caught the attention of
multiple blockchain investigation firms.
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However, on chain transaction suggest that the
attacker was not an ethical hacker, but a
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malicious actor who got scared of the
mainstream attention and decided to return the
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funds.
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So what do these incidents tell us?
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While the motives behind these exploits can
vary, the involvement of centralized exchanges
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and the subsequent return of stolen funds
indicate that the crypto community is becoming
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increasingly vigilant.
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Whether it is ethical hackers, exposing
vulnerabilities, or malicious actors having a
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change of heart, the landscape of crypto
security is continually evolving.
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Fatallic Booterin, co founder of Ethereum has
asserted that the crypto community has already
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claimed the right to butcher the word
inflation.
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Buterin's comments come as a response to a post
on x by digital media company Axios, which
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stated that the word inflation now means high
prices rather than rising costs.
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Despite Axios' tongue in cheek nature, X
community notes clarified that the definition
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of inflation is not changing.
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Buterin's Farcaster post debated Axios'
definition of inflation by insisting that the
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crypto community had already established the
redefinition of the word.
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According to Buterin, we already decided that
it now just means increase in the total supply
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of a currency.
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Buterin's rebuttal to the Axios post found
support from other forecaster users, including
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former Coinbase employee, bingey.deaf.
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Traditionally, inflation refers to the rise in
the general price level of goods and services,
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which reduces purchasing power because money is
worth less.
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However, the semantic shift in culturally
redefining inflation as described by buterin
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suggests that ongoing global inflation results
from the total supply essentially being
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uncapped.
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Tech investor Lee Edwards criticized the
initial Axios tongue in cheek post saying you
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could educate your readers instead of
confirming their misconceptions.
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Buterin has recently taken to Forecast her
multiple times, pushing for community centric
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solutions and initiatives prioritizing privacy
preservation and exploitation fixes from
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proposing remedies to Ethereum's minor
extracted value problem to advocating for 0
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knowledge proof social media augmentation.
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Buterin's involvement in the decentralized
community should be no surprise.
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However, he has yet to comment on the growing
community concerns regarding Ethereum found
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researchers, Dankrad Fice and Justin Drakes
joining the ranks of Eigen Layer.
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The decision to become advisors at Eigen Layer
in exchange for substantial compensation in
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eigen tokens sparked significant debate in the
crypto community.
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Some community members supported the
transparency of the disclosures while others
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slammed the decision, suggesting that the huge
compensation would influence decision making.
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In our final story today, we have an
interesting and somewhat concerning development
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involving Australian musician Iggy Azalea, and
an alleged serial scammer named Sahil Arora.
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The story revolves around a new Celebrity Mem
coin that raised over $300,000 in a token
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presale.
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The token carrying Azalea's name has quickly
become a hot topic in the crypto community.
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According to posts from Azalea's account on x,
She has distanced herself from the project,
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making it clear that she had no involvement in
the presale orchestrated by Aurora.
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Basically, I was interested in making a
legitimate coin with utility, but Sahil tried
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it and thought I wouldn't see his weirdo little
presale telegram stuff.
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Hazalia's account stated in a now deleted post.
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This is not the first time Sahil Arora has been
linked to questionable activities in the crypto
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space.
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He has been accused of several scams, including
rug pulls on the avalanche blockchain.
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These rug pulls reportedly earned him small
amounts in stolen fees, but the cumulative
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impact has been significant for the victims
involved.
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Aurora's reputation took another hit when
American rapper reached the kid publicly
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accused him of hacking his ex account to
promote a recently launched token called Rich.
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Additionally, Olympic medalist Caitlin Jenner
claimed that Aurora scammed her during her own
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token launch, which initially reached over
$40,000,000 in market capitalization.
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Gener's token, however, lost about 50% of its
peak market cap shortly after its launch.
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This week, Aurora's alleged illicit activities
have drawn public attention due to his
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involvement in various celebrity meme coin
projects.
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A telegram channel has detailed a recent token
launch campaign where participants accused
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Aurora of conducting a rug pull, a common exit
scam in the MIMCOIN scene.
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1 investor from that project who spoke to Coin
Telegraph on the condition of anonymity said
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that the liquidity was removed within 5 minutes
of the coin's launch.
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If I can remember vividly, I don't think he got
more than 6 to 8 Avacs for Rich.
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The investor recalled.
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Despite these accusations, Aurora denies that
his campaigns are scams, claiming that people
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couldn't time write entries so they got burned.
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Aurora has had a controversial past with a 2017
article from the times of India reporting that
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he dropped out of Pathway School to launch a
taxi application.
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He has since founded numerous businesses,
including the payments project ZillowPay, and
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the influencer platform, Habibi.
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However, allegations of misconduct have
followed him throughout his career.
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A former contractor for Zillapay, a e, claimed
that Aurora failed to pay him 800 British
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pounds he was owed in he threatened to report
Aurora to the authorities.
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Adding to the list of controversies, VJ Shekhar
Sharma founder of Indian payments giant Paytm
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publicly accused Aurora of identity theft in
2017.
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Despite these numerous allegations, Aurora
continues to deny any wrongdoing stating that
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tons of people make big from my launches.
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The few that don't become haters.
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As this story unfolds, it serves as a stark
reminder of the risks involved in the crypto
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space, especially when it comes to memo coins,
and celebrity endorsed projects.
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Always do your due diligence before investing.
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And be wary of projects that seem too good to
be true.
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That wraps up today's episode of Bitcoin and AI
data centers.
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Thank you for joining us as we navigated
through some of the most intriguing stories in
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the world of data centers, artificial
intelligence, AI data centers, Bitcoin, and
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crypto.
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Stay vigilant, stay informed, and until next
time, This is Ronnie signing off from my secret
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location in Wakanda.
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Take care.