¡Buenos días & donde está la biblioteca mis amigos! It’s Taylor, CEO of Hedgehog 🦔 where you can track and trade your whole crypto portfolio in one place. Sync your exchange accounts, your wallets, and you’re good 2 go. Our goal is making your gnarly Excel file obsolete, so we’re always working on new features that will expand the Hedgehog experience.
At the end of every newsletter there’s a giveaway question. Answer and you might win a Ledger Nano S hardware wallet!
Wanna hear something funny? Recently the team has been scrutinizing the Google search results pages where Hedgehog’s website shows up. This particular list of keywords had us super puzzled:
- Gio the hedgehog
- Colton the hedgehog
- Taj the hedgehog
- Adi the hedgehog
- Nex the hedgehog
- Ada the hedgehog
- Quan the hedgehog
- Genaro the hedgehog
- Bodhi the hedgehog
ADA could be Cardano, theoretically, but who are the rest of these hogs?? Then Colin pointed out, Sonic the Hedgehog fandom is so strong that any name you search, there’s an original character in the Sonic universe with that name. It’s a meme to search “[your name] the hedgehog” and see what comes up.
Except for Bodhi the hedgehog. That’s a real hedgehog, like the actual animal. Very cute Instagram! Also, “Quan the hedgehog” is probably people looking for San Quan steamed buns, which are shaped like hedgehogs. We gotta snag a package or three for the next team retreat!
And now [ominous voice] THE NEWS…
The $600M mega-hack of Axie Infinity was perpetrated by North Korea, it turns out. Was that on anyone’s bingo card? The FBI’s, apparently:
Intrusions begin with a large number of spearphishing messages sent to employees of cryptocurrency companies — often working in system administration or software development/IT operations (DevOps) — on a variety of communication platforms. The messages often mimic a recruitment effort and offer high-paying jobs to entice the recipients to download malware-laced cryptocurrency applications, which the U.S. government refers to as "TraderTraitor."
So, my point is, TraderTraitor was literally on the FBI bingo card. Folks, I do declare, “be careful what you click on” has been relevant advice for as long as the internet has existed, but it seems to get more and more true as the years pass…
Meanwhile, in response to the FBI fingering North Korea for this attack, privacy-oriented mixer Tornado.cash banned the crypto addresses involved: “The mixing service announced on April 15 that it blocks addresses sanctioned by the U.S. Office of Foreign Assets Control (OFAC). Tornado Cash accesses the sanctions list through an oracle created last month by blockchain tracking company Chainalysis.”
Some people were outraged, predictably, since cryptocurrency is all about freedom and lack of censorship. However: “Tornado Cash doesn’t prevent blacklisted addresses from interacting with its smart contracts. Instead, it stops those on OFAC’s sanctions list from interacting with Tornado Cash through its website.”
Tldr: That level of compliance is legally required, so really nobody should be surprised. Service operators who don’t obey sanctions get sanctioned (who knew!?).
While we’re discussing hacks, Beanstalk Protocol’s was taken to the tune of $33 million. Smart contract auditor Omniscia dissected what happened:
On the 17th of April 2022, the Beanstalk Protocol experienced a flash-loan attack due to a flaw in its newly introduced Curve LP Silos that compromised the protocol’s governance mechanism, ultimately permitting the attacker to conduct an emergency execution of a malicious proposal siphoning project funds.
Tldr: Quick! Someone cut the hardstalk to the beanframe! Shh, just let me make this joke.
- IRL gallery for NFTs. Virtual gallery for NFTs (h/t @punk6529). Take your pick?
Tldr: Digital art is now physical art, and we’ve officially come full circle.
- “Collectibles have a fundamental flaw: they don’t generate cashflow.”
Tldr: Luckily not all NFTs are copy-pastes of the Beanie Babies craze! Though I’m not really one to judge, since I’ve already pre-ordered my special-edition Princess Diana Eth Rock.
- "Traders Move ETH out of Centralized Exchanges and into DeFi"
Tldr: Traders make trades where trading is more profitable.
- “Uniswap Launches Swap Widget For Third-Party Apps”
Tldr: Finally I can access Uniswap from Spotify. Took them long enough!
- “How the Medallion Fund makes +75% annually”
Tldr: It’s complicated, and there is math involved, but it's on the internet so it must be true.
Giveaway question: I’m curious, what do you do for work? If you don’t have a job, tell me what else you do with your days — SAHM or SAHD, caretaker, NEET, whatever acronym or non-acronym describes how you spend your time 😊 Reply to this email with your answer and you might win a Ledger Nano S hardware wallet.
To get future newsletters delivered straight to your inbox every week, sign up here!