~9 Year Bitcoin Coded Crypto Degen BD Lead at @mineLabs_ Bringing Bitcoin assets to the masses. Running for global supreme leader. https://xitter.cf/t.co/TW5VxusUZF
Joined December 2024
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An olive branch to the anti-spam camp, an educational read for anyone interested in seeing what has actually been built, and hopefully a step toward retiring “spam” as a catch-all for anything you don’t like.
That’s what I hope people take from this labour of love. 🫶
Jeff - Mine Labs 🌎☮️ retweeted
Some of you may have noticed Runes swap liquidity is limited right now. This is due to a security incident on one of the available swap providers that we aggregate.
No Xverse vaults or user funds are affected. We're monitoring this and will update as liquidity is restored.
Jeff - Mine Labs 🌎☮️ retweeted
1/ On 25 Oct, DotSwap V1, our original 2024 swap platform, was attacked. The attacker used V1's legacy server-side signing path to drain roughly 8.5 BTC (~$685k) from V1 liquidity pools and V1 accounts over about four hours.
Jeff - Mine Labs 🌎☮️ retweeted
The artist of the Bitcoin Wizard holds the key that earned 50 BTC mining in January 2009, when Bitcoin was 16 days old.
In 2023 it signed: “I am mavensbot, creator of the Bitcoin Wizard.” @mavensbot
@bitcoinwizardry and $MIM lore, on chain: mimwizards.com/proofs
Jeff - Mine Labs 🌎☮️ retweeted
zachxbt just proved monero's thesis again:
he tracked $20M of stolen funds moving through hyperliquid, traced the swap operator's 3,000 deposits to kucoin, and the moment it converted into native xmr, the trail completely vanished.
- influencers: "govs found ways to deanonymize xmr!"
- reality: 87% of inflows into freedomxmr were ransomware and exploit loot trying desperately to buy native monero to kill the trail.
govs and zachxbt didn't trace monero; they traced an off-the-shelf swap bot on a transparent evm. chainalysis doesn't crack ringct; they just wait at the transparent counter hoping the operator deposits to kucoin without a vpn.
you can delist xmr from every regulated cex on earth, yet you can't delist pure cryptographic utility, meanwhile xmr is up 69%.
market always knows what real privacy is.
NEWS: ZachXBT uncovered Monero laundering pipeline on Hyperliquid Core known as FreedomXMR, which has taken in $20M+ in inflows since August.
The funds trace back to ransomware, malware, social engineering, and exploits including DCENT Wallet, Fetch, and Gamdom.
Since August, $XMR is up 69% while $BTC is up 30%.
Jeff - Mine Labs 🌎☮️ retweeted
Every change to THORChain follows the same path.
It starts with an ADR. Anyone can write one and bring it to the THORChain Discord: a new chain, a fee change, a new feature. Protocol-owned liquidity began as a proposal from a community member.
The proposal gets debated in the open. Developers, node operators and users ask questions, push back and rework the details.
Then the nodes vote. A change passes when 2/3 of active nodes approve it. Today that's 74 of 111 nodes, run by ~56 independent operators. Each node gets one vote.
Bitcoin started on that idea: open to anyone, decided by the network. THORChain keeps building on it.
Jeff - Mine Labs 🌎☮️ retweeted
lukes fake bitcoin scam sitting at a 20b marketcap aka $1k usd per fake bitcoin lmao
only because its too risky to split your real bitcoins and still not a single cex supporting this dogshit that would make people want to dump it to sub $1 yet
but rest assured, sub $1 is coming. if you are buying this shit here you have brain damage.
Jeff - Mine Labs 🌎☮️ retweeted
Hey @laurashin, @tayvano_;
- Will you be insisting that @1inch return the profits that was gained?
- Would you drop them as your show sponsor if they declined to do so?
Anyway...
Here's a panel lecturing THORChain about “neutrality,” decentralization and processing stolen funds.
Look at the top-right corner of the broadcast:
“Powered by @1inch"
You genuinely cannot make this up.
Jeff - Mine Labs 🌎☮️ retweeted
🚨 I'M GOING TO DEFEND @THORChain.
After watching the Bitget discourse, reading the forensic reports, and looking at what actually happened on-chain, the selective outrage is getting ridiculous.
You want to talk about “neutral infrastructure?”
Fine. Let's play fair. 🧵
Jeff - Mine Labs 🌎☮️ retweeted
@laurashin your shows got sponsored by @1inch . So literally you are benefiting from 1Inch incomes which part of it from the @bitget stolen fund too.
So, while pressuring @THORChain for not censoring stolen funds transactions, will you also come clean by returning the sponsorship fund from 1Inch?
Care to lead by example, and not applying double standard here?
@tayvano_ what's your opinion on this?
Thanks to @SirRawcha to unpack this! 🫡🫡
Jeff - Mine Labs 🌎☮️ retweeted
In 1967 Britain had more electric vehicles on its roads than every other country on earth put together, and they were all delivering milk.
There were tens of thousands of them. The milk float: open sided, battery under the floor, top speed of about 15 miles an hour, and a whine you could pick out in your sleep. It was charged overnight at the depot and was back there by lunchtime.
It carried glass bottles. Each one was collected from your step the next morning, washed and refilled. A bottle went round like that 20 or 30 times before it broke. The foil cap went for scrap. There was no other packaging.
The milk had come from farms within a few miles, through a local dairy, and was on the step before 7.
So here is what the country had. A zero-emission delivery fleet. Reusable containers with a return rate any modern scheme would kill for. No plastic. A supply chain you could cycle the length of. A man who noticed if an old lady's bottles were piling up, and knocked.
It was dismantled in about 15 years, because a supermarket could sell milk a few pence cheaper in a plastic jug as a way of getting you through the door.
Every piece of that system is now the subject of a government target for 2040.
It was running in 1967, silently, in the dark, and nobody thought it was worth a mention.
Jeff - Mine Labs 🌎☮️ retweeted
Look at this framing: "THORChain declined her request."
So dishonest.
The Bitget hack has turned into an insightful look at bad actors and their spokespeople in crypto. You think we have a hacker problem? The born-again bankers are a much bigger threat to this industry than the thieves are.
Start with Gracy Chen. Instead of taking ownership of losing $388M of her customers' money through her own security failure, she blames THORChain for refusing to do the impossible: freeze specific transactions.
So take the claim seriously. "Declined" how, exactly? Who received the request? At an exchange like hers, that person has a name, a title, and an email address. On THORChain that person does not exist.
Per THORChain's own explorer there are 95 active nodes, anonymous, bonded, churned out every three days, and none of them holds a freeze button.
As security researcher Michael Perklin put it, node operators have "no active choice to sign, only an active choice to turn off the machine." Same as Bitcoin miners.
The thing Gracy says was declined was never on the menu.
Now the media. Laura Shin ran "THORChain declined her request" as settled framing and "does permissionless mean neutral" as a real question.
Permissionless means there is no one to ask. Neutrality is a policy. Permissionlessness is physics.
A journalist's job is to catch that distinction, not launder "the mechanism does not exist" into "they chose not to help," which happens to be the exact story an exchange with a hole in its protection fund needs told.
So here's the fix, Laura: book the other side. Have THORChain contributors on and ask them to point to the freeze button. That episode would be worth timestamping.
How a Third-Party Zero-Day Let Hackers Drain $388 Million From Bitget
"Permissionless doesn't mean neutral." 🛡️
@GracyBitget told me that's the stance she wants from DeFi, after @near_intents helped freeze stolen @bitget funds and @THORChain declined her request.
🎧
Timestamps:
🚨 01:50 How attackers used a third-party zero-day to fake withdrawal commands
❄️ 07:15 Why Bitget switched wallets back on mid-attack to sweep funds to cold storage
💧 14:30 1inch Aqua: See how LPs back multiple positions with the same token balance at unchainedcrypto.com/go/1inch…
⛓️ 15:37 Why the hackers were able to transact even after withdrawals were paused
🧊 19:04 How Tether, Circle, and NEAR Intents froze funds, and why recovery is harder
🕵️ 24:05 ZachXBT's shift on the Bitget hack and his earlier pump-and-dump claims
🛡️ 30:01 NEAR Intents vs. THORChain: does permissionless mean neutral?
💰 41:55 Why Bitget built its protection fund in 2022 and how it covered the loss
🎭 48:17 How scammers posed as an investment team to target Gracy after the hack
📈 01:01:32 A net ETH inflow after withdrawals reopened, and whether the IPO is still on
Jeff - Mine Labs 🌎☮️ retweeted
To be clear, there is no admin key anymore. It was removed early last year.
@thorchain can halt but it all or nothing. There is no selective filter on addresses.
So it is everyone can trade or no one can trade, there is no middle ground.
Bitget CEO Gracy Chen says THORChain shut its system down when it was the victim, but refused her request to block the hacker's addresses
"At that time, I don't think I knew exactly how their governance works, nor do I know it now. The key thing is, it's quite clear those are public addresses that we listed and kept tracking. Hence I decided to formally ask them to refuse services to those addresses. By asking them, it could be their team members, the core foundation, or the nodes and swaps on that public chain."
"Later on I did more research, and I realized there were cases where they shut down the system because of other hacks, especially hacks where they themselves were a victim. But in general, I don't want to just target THORChain by saying you should change your protocol from permissionless to something else."
"I think what NEAR Intents did was quite interesting. Although the blockchain is still permissionless, you can build a layer on it to do more KYT to avoid the hacker's funds."
"I also saw some major industry leaders, even our competitors, come out and accuse THORChain of not being consistent in their standard. When it's them being the victim, they can shut down the system. And when it's not them, when it's us, they just refuse. I saw THORChain's official tweet refusing my request."
Jeff - Mine Labs 🌎☮️ retweeted
🧵THREAD: The forgotten catastrophe: Iran’s famine of 1917–1919 #History
1/ While the world remembers World War I, few recall Iran’s famine, where an estimated 8–10 million people died amid occupation, grain requisitions & economic collapse driven by British and Russian forces..
Jeff - Mine Labs 🌎☮️ retweeted
It's obvious now that there's a massive scapegoating campaign against @THORChain.
Why focus more on a *traceable* L1 with permissionless swaps at its core than on the real issue: security setups still need major improvements?
Anyway. Bullish on permissionless money and exchanges. thorchain:native
"THORChain voluntarily chose to launder sanctioned funds for the North Koreans. There are consequences for that."
Austin on why THORChain is a cleaner DOJ case than Tornado Cash
"This is where I think the THORChain folks have now got themselves in a serious pickle. You showed that you have the capability to stop your chain when you choose to do so, and you chose not to do so here. That is very different than infrastructure that has no off switch."
"If you got exploited yourself and there was no way to fix it and it just happened, okay, I buy your claim of decentralization then, because the point at which you really would use it is when you are being harmed. And if you don't, that's pretty good evidence you can't."
"However, THORChain did. They transparently did. They stopped the chain when there was an exploit. They've done it. They showed they have the capability."
"So to me, this is actually a much cleaner case for people at the DOJ than something like Tornado Cash - where it was never turned off. This one's clearly, you have elective control over the network, and you're choosing when to use it and choosing when not to use it."
Jeff - Mine Labs 🌎☮️ retweeted
I don't see how people can see what @THORChain demonstrates (permissionlessness in the face of pressure) over and over and not want to ape thorchain:native
Jeff - Mine Labs 🌎☮️ retweeted
@THORChain Doesn’t Have To Do Anything!!!! Got it? Good!
We are devasted to hear about the recent exploit and can imagine how difficult this must be for everyone involved.
THORChain is decentralized and permissionless like Bitcoin, Ethereum, and BNB Chain.
What responsibility should Bitcoin, Ethereum, and BNB Chain bear when handling known stolen funds?
@star_okx @GracyBitget
Jeff - Mine Labs 🌎☮️ retweeted
Hard to tell if this is ignorance or malice on display, but either way it's simply wrong.
The May 2026 hack *broke* @THORChain - made it inoperable. That is why it halted. It is actually quite common for parts of TC to be halted for various reasons, usually bugs.
There's a huge difference between closing a road to traffic for repair and selectively choosing who is allowed to drive on it.
TC would allow the funds stolen from it to be swapped through it.
Also very importantly, TC does not obfuscate anything - it is completely transparent. It is trivial to trace all funds moved through TC. No obfuscation, no laundering.
Honestly expect better of @austincampbell, usually has pretty good takes
"THORChain voluntarily chose to launder sanctioned funds for the North Koreans. There are consequences for that."
Austin on why THORChain is a cleaner DOJ case than Tornado Cash
"This is where I think the THORChain folks have now got themselves in a serious pickle. You showed that you have the capability to stop your chain when you choose to do so, and you chose not to do so here. That is very different than infrastructure that has no off switch."
"If you got exploited yourself and there was no way to fix it and it just happened, okay, I buy your claim of decentralization then, because the point at which you really would use it is when you are being harmed. And if you don't, that's pretty good evidence you can't."
"However, THORChain did. They transparently did. They stopped the chain when there was an exploit. They've done it. They showed they have the capability."
"So to me, this is actually a much cleaner case for people at the DOJ than something like Tornado Cash - where it was never turned off. This one's clearly, you have elective control over the network, and you're choosing when to use it and choosing when not to use it."
Jeff - Mine Labs 🌎☮️ retweeted
It is not paranoid to notice the coordinated pattern:
- MistTrack posted the THORChain-blame thread, Gracy amplified it, and GoPlus then made the same argument that THORChain could intercept the Bitget stolen funds because validators sign outflow.
- After a CEX hack, the fastest way to move attention off “Bitget got breached” is to flood CT with a simpler villain: THORChain “facilitating stolen funds,” or Zach “not doing his job.”
- That is why pet KOLs and engagement accounts pile on — moral wording plus a tagged target produces replies, quotes, and reach, whether or not they were directly paid for that specific post.
- The chaos is the point: once enough accounts repeat the same demand, it starts to look like industry consensus instead of a CEX and its aligned security shops trying to assign the cleanup to someone else.
