In This Issue
- I share my thoughts on the state of the market, Solana hack, ETH Classic, Cardano Vasil delayed and look out for Synthetix.
- Rekt Capital has the latest technical analysis for you on the market.
- Sam has a report for you on the top NFTs under 0.5 ETH.
- Defi Dad has a tutorial for you on how to earn ETH in a stETH options vault without risking your deposit.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
For any crypto related questions please comment on the website.
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What’s On My Mind by Lark
<h3 id="the-state-of-the-market “>The State of the Market
Well, it seems that equity markets got a bit spooked this week on the news of Nancy Pelosi’s visit to Taiwan. But then when World War 3 didn’t break out the market calmed down a bit.
Bitcoin is putting in higher highs and higher lows maintaining its uptrend. Assuming we don’t get any macro shocks then we could see the markets maintaining their relief rally for a little while.
Ethereum bounced off of key resistance last weekend, and is currently looking like it will make a second attempt at it. The broader Ethereum Merge narrative continues to lift up coins like LIDO and OP, as the broader Ethereum ecosystem continues to buzz on the anticipation of the launch in 6 weeks.
<h3 id="solana-hack “>Solana Hack
An exploit has hit the Solana network affecting major wallets Phantom and Slope. Wallets have been drained for millions in the attack. I truly hope you were not affected.
The root cause of the hack was not that Solana failed, over even that there was a problem with Phantom wallet which remains an industry standard. No, it seems that Slope wallet sent people’s seed phrases to external partners that they integrated with.
Any hacks from Phantom wallets or even some Ethereum wallets came from people reusing the same seed phrases they used on their Slope wallet. This is a case of shocking negligence.
Here are three quick tips for keeping your crypto safe in this kind of situation:
- Move your coins into a hardware wallet. I know I keep saying it, but it needs repeating. Store your funds only on a hardware wallet. Hot wallets are fine for playing with a few bucks, but that is it. Here is a link where you can safely buy one if you do not yet have one 👉 https://cryptolark.co/LEDGER
- As soon as you see a story like this taking place don’t sit and wait. If you do not have a hardware wallet then send your funds to a centralized exchange until the dust settles. You may not be able to send every coin, but maybe at least a few of the big ones to reduce risk.
- Revoke access to any dapps you might have used. In the event of a third party app being exploited there can be a situation in which your funds can be drained from your wallet if you have approved the app already. In Phantom wallet click on the gear in the bottom right-hand corner and then click on trusted apps and then click revoke. Although, because this turned out to be a case of leaked keys it would not have helped, but it is a handy trick to remember for the future.
And as a side note, try not to reuse seed…
