Invest in my Blockchain Letter
published:
One of the things I'm enjoying now that I'm a Kagi guy is the Small Web feature. I stumbled onto this blog that way.
It's not so much that I'm shocked by how many scams are being pulled off in that world of dumb crypto currency stuff. It's that I'm shocked by the amount of variety of increasingly complex financial instruments built on top of dumb crypto stuff. The entire genre of "defi". Loan platforms, investment accounts, insurance. I mean, I guess I should have expected it, but still.
A thief exploited a smart contract belonging to the Gondi NFT platform to steal 78 NFTs priced at $230,000. Perhaps the most shocking part of the theft is that the attacker managed to find NFTs still holding any value at all.1
Yes! Yes, that exactly!