What to do if you’re a Coldcard victim
Coldcard’s bug cost victims over $88M worth of BTC, and recovering any of it starts with law enforcement, not a DM on social media.
Aaron Wise
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A timeline of Coldcard’s $85M bitcoin theft
Coldcard firmware didn't properly utilize true random number generators, letting attackers sweep over 1,359 BTC last week.
Crypto keeps losing to Ken Griffin’s Citadel
Ken Griffin’s Citadel keeps winning from crypto losses, including cheap AI stocks, Sotheby’s art, payment for order flow, and XRP equity.
Former FTX member Leopold Aschenbrenner’s $20B AI fund blows up
The AI hedge fund of ex-FTX Future Fund worker Leopold Aschenbrenner is asking investors for more capital to meet margin calls.
— Michael Saylor, MicroStrategy
Strategy has lost two-thirds of its mNAV in two years
Strategy’s basic mNAV stood at 2.04x two years ago. On Wednesday it read 0.68x, a decline of exactly two-thirds.
Credit default swaps forecast AI bankruptcies
CDS spreads are deteriorating across mega-cap AI stocks including Alphabet, Amazon, Meta, and SpaceX, which all hit record spreads this week.
South Korea’s KOSPI has erased more than Bitcoin’s market cap in 29 days
The KOSPI has erased about $1.6T of market value since June 19, more than all the BTC in the world is worth.
Escaping Jack Dorsey’s BTC miners cost $41.9 million
Core Scientific gave Jack Dorsey’s Block $67.9M for BTC mining chips. It then booked a $41.9M loss for the right to stop buying them.
— Barry Silbert, Crypto mining
Zcash 10X’d in a year but DCG’s Zcash miner kept losing money
Barry Silbert’s Zcash miner Fortitude Mining has published financials that paint a very different picture to its June pitch deck.
Search engines fix Claude leak but Perplexity users’ files still online
Perplexity Computer outputs from unwitting customers were accessible by querying Google, Bing, and DuckDuckGo search engines this morning.