_Crypto retweeted
Changing networks is super easy now with modern wallets like Zerion though.. might as well just be a ‘pay nearly 0 tax on this tx?’ checkbox to switch chains. EVM networks all flow together pretty seamlessly these days, and imo they’re nicer to build on as a developer. With Fusaka dropping ETH fees so low, some of the cost-focused L2s like Base might become less relevant though. SOL is still a serious contender. strong tech, strong devs, and it’s catching up fast. Just needs a bit more interoperability and supporting libraries imo. Both are gud tek.
_Crypto retweeted
Thank God nothing age verification related has ever been compromised. Also, Thank God social media platforms don't have a history of Insider Threats helping dox people or steal accounts or stalk women.
Phew.
_Crypto retweeted
I really appreciate both @sandeepnailwal's personal contributions and @0xPolygon's immensely valuable role in the ethereum ecosystem.
To recap:
* Polygon hosts @Polymarket, which is probably the single most successful example of a "not just boring finance" app that has actually been successful and provided value.
* Polygon has also hosted plenty of other applications that have needed high levels of scalability.
* Polygon put a lot of resources into ZK-EVM proving early on, both by bringing in Jordi Baylina's team and through other efforts, and greatly helped in moving the space forward.
* Polygon has built infrastructure for proof aggregation (AggLayer) and many other things
And also:
* Sandeep put a lot of his personal effort into @CryptoRelief_, which has made large contributions to biomedical infrastructure and research inside India.
* He voluntarily returned $190M of proceeds from the SHIB tokens that I donated to me, which has made the whole Balvi open source anti-airborne-disease biotech program possible, and possibly accelerated our understanding of important anti-pandemic topics like clean indoor air by years. @cz_binance also recently donated $10M in BNB to me to help continue the program, and I've recently added ~$20M of my own funds (no, not from selling ETH 😛)
Big appreciation to both for this. Most whales passively think that things like this are cool, but are not willing to get off their butts and personally contribute, unless it's in the form of a company that keeps everything proprietary to become yet another vehicle for personal profit. @sandeepnailwal (and CZ) are special here.
On the ZK issue (after all, you do need a proof system to get the full security guarantees that L2s are meant to provide), I can see Polygon's difficult bind: they supported Jordi's team putting their heart and souls into the tech at a time when that tech was still too early for production, and so they contributed to the early and most difficult part of the learning curve, but at that part of the learning curve it was difficult for them themselves to directly benefit from the fruits of their labor.
Since then, the market structure has split into L2 teams and ZK teams (eg. @SuccinctLabs, @RiscZero, more recently @brevis_zk, many others) being separate entities, which I think makes more sense than the previous approach of every L2 doing (OP or ZK) proof systems in-house: it's very difficult to be both the best L2 and the best ZK team, the two are very different skill sets.
Personally, I hope that at some point soon @0xPolygon can just pick up off the shelf ZK tech that has now gotten quite good and apply it to the PoS chain to get full stage 1 and later stage 2 guarantees from the ethereum L1. Many don't realize just how much ZK tech has improved; proving costs are around $0.0001/tx, and many L2s I talk to are very surprised when I tell them the recent numbers, they're still stuck in the mindset that ZK is maybe ok for ethereum L1-scale chains but unviable for anything hyperscale. The latest ZK-EVMs, and live projects like @Lighter_xyz, show that this is false.
_Crypto retweeted
This has to be the worst trade ever:
Someone sold his kidney in 2022 to buy a Bored Ape NFT
He’s now down 95%
_Crypto retweeted
This is the most dangerous address in crypto right now:
0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae
It deposited $40M USDC on October 13 and opened aggressive BTC shorts worth $343.6M
(around 3,000 BTC at 10x leverage)
This wallet belongs to a whale that controls over $10B in assets (46,295 BTC and about $5B in staked ETH).
It reportedly made $192M in profit from the October 10 crash
Opening short positions just minutes before Trump’s tariff announcement.
Onchain data links it to Garrett Jin, the former BitForex CEO, through ENS records (ereignis.eth → garrettjin.eth)
But he denied any involvement.
The pattern is always the same:
• Massive USDC deposits
• Shorts opened right before big macro events
• Positions scaled during the fall
• Profits withdrawn to L1
This whale may have had early access to information or is simply one of the best timed traders in crypto.
Either way keep an eye on what he’s going to do next
_Crypto retweeted
🚨 IF YOU STILL DON’T UNDERSTAND HOW CATASTROPHIC YESTERDAY WAS 🚨
Let me spell it out:
While Bitcoin dropped 10% like a normal Tuesday correction…
THE ENTIRE ALTCOIN MARKET GOT SENT TO THE SHADOW REALM
Here’s what “blue chip” really means 👇
$ATOM: $4.00 → $0.001
99.97% ANNIHILATED
$SUI: $3.40 → $0.56
83.5% OBLITERATED
$APT: $5.00 → $0.75
85% VAPORIZED
$SEI: $0.28 → $0.07
75% DELETED
$LINK: $22 → $8
63.6% DESTROYED
$ADA: $0.80 → $0.30
62.5% MASSACRED
These aren’t shitcoins.
These are TOP 100 “INSTITUTIONAL GRADE” projects that VCs, YouTubers, and CT influencers told you were “safe.”
80% nuked in MINUTES.
Not hours. Not days. MINUTES.
Meanwhile:
Bitcoin: -10% (basically a coffee spill)
$19-20 BILLION in liquidations across the market.
But BTC just vibing like it’s a healthy dip-buying opportunity.
Let that sink in:
The “diversification” strategy?
WRECKED.
The “altcoin season” narrative?
EXPOSED.
The “blue chip portfolio” advice?
WORTHLESS.
Your hedge against Bitcoin dominance?
PROVED TO BE PURE COPIUM.
Here’s the truth bomb nobody wants to hear:
When the music stops, there’s only ONE chair in this game.
And it’s orange.
Every altcoin … no matter how “revolutionary” the tech, how “strong” the team, how “backed” by VCs .. is just leveraged beta on Bitcoin.
But with 80% downside risk in 180 seconds.
You thought you were “early” to the next Ethereum.
You were actually exit liquidity for insiders who dumped on you at Mach 5 speed while Bitcoin HOLDERS barely blinked.
The market just gave you the most expensive lesson in crypto history:
There’s Bitcoin.
And there’s everything else.
Yesterday proved which one survives when the house is on fire.
Choose accordingly.
#Bitcoin #Crypto #Altcoins #Oct11Crash #BitcoinOnly
_Crypto retweeted
What REALLY happened on 10.10.25. Recap:
Binance just reminded everyone who really runs this market,
this crash wasn’t about trump, tariffs, or macro, that was noise,
the real story happened inside the books:
One market maker, you definitely know, moved $700M to Binance hours before the crash, 200M of that was in $BTC.
Few noticed.
Then, as traditional markets bled, crypto started following, but something was off
the order books on Binance went hollow. No bids, no walls, just a free fall waiting to happen.
Volume on $BTC candles:
> 23:00 – 2k sold
> 00:00 – 12k
> Even one-minute candle had 1k btc "inside"
Was this organic?
At $108k, liquidation pressure hit terminal velocity
Binance’s own market maker stopped defending the price and pulled liquidity
this is exactly why atom went to $0.001,
and the worst part? Traders couldn’t even fight back!
On every other exchange you could close, hedge, or buy the dip manually,
on Binance, buttons stopped working. Stop orders froze, limit orders hung,
only liquidations were executed perfectly (but not in the way should have been executed)
think about it — your position, 50x cross, stop at -1%
> market dumps 50%
> your stop never hits, your account gets nuked 25x over
> and if you were mirrored across pairs, it’s game over
arbitrage bots amplified it, selling where price still held, deepening the fall
lending protocols liquidated positions
> alts down 80%
> anything with 2x leverage or more = gone guaranteed.
> some positions with even less leverage were liquidated.
> hundreds of portfolios erased, some funds too, no one’s admitting it publicly yet, but you can read it between the lines
the market just showed its real nature - unfair, manipulated, and merciless,
only the strongest survive here, and sometimes even they can't handle it.
If you’re still here, bleeding but alive, you’ve already passed a test most never recover from
don’t quit now. Learn what actually moves price, not what influencers say does
the next wave rewards those who survived this one
follow, we will fight together
_Crypto retweeted
The Oct 11 Crypto Crash — What Really Happened
TL;DR:
Roughly $60–90M of $USDe was dumped on Binance, along with $wBETH and $BNSOL, exploiting a pricing flaw that valued collateral using Binance’s own order-book data instead of external oracles.
That localized depeg triggered $500M–$1B in forced liquidations, cascaded into $19B+ globally, and earned the attackers about $192M via $1.1B in BTC/ETH shorts opened on Hyperliquid hours earlier, but minutes before Trump tariff announcement.
It wasn’t a USDe failure!! It was Binance’s design flaw, timed with macro panic (Trump’s tariffs) for cover.
What looked like chaos was actually a coordinated exploitation of Binance’s internal pricing system, amplified by a macro shock and systemic leverage.
1️⃣ The Setup
Binance’s Unified Account let traders use assets like USDe, wBETH, and BNSOL as collateral.
Instead of oracle or redemption prices, Binance valued these using its own spot market - a major vulnerability.
On Oct 6, Binance announced a fix to move to oracle-based pricing, but rollout wasn’t until Oct 14, leaving an 8-day window.
2️⃣ The Exploit
During that window, sophisticated actors manipulated Binance’s order books, dumping ~$60–90M of USDe, driving it to $0.65 on Binance only (still ~$1 elsewhere).
Because the Unified Account marked collateral to internal prices, this instantly wiped margin value and triggered $500M–$1B in forced liquidations.
Then, Trump’s 100% China tariff headline hit, magnifying panic and liquidity stress.
3️⃣ The Profit Engine
The same day, fresh wallets on Hyperliquid opened $1.1B in BTC/ETH shorts, funded by $110M USDC from Arbitrum-linked sources.
As the Binance cascade unfolded, BTC and ETH cratered, those shorts netted $192M in profit before closing out at the bottom.
Timing, precision, and funding paths all suggest coordination.
4️⃣ The Contagion
Binance liquidations dumped BTC/ETH/ALTs into thin books.
Other exchanges mirrored the collapse through cross-market bots.
Market makers hedged across venues were forced to unwind everywhere.
Result: $19B+ global liquidations, with many alts down 50–70% intraday, all triggered by <$100M of manipulated collateral.
5️⃣ Who’s at fault?
Binance: design flaw + delay in oracle rollout = root cause.
Exploiters: executed and timed the manipulation, profited via external shorts.
Ethena (USDe): not at fault - protocol stayed 1:1 collateralized, redemptions normal, peg held everywhere else.
6️⃣ Aftermath
Binance admitted “platform-related issues,” promised compensation for affected margin/futures/loan users, and rolled out minimum price floors + oracle integration.
USDe remained operational, and the incident is now a case study in how exchange-side pricing errors can trigger system-wide liquidations.
Bottom line:
A ~$90M dump on Binance and a $1.1B leveraged short elsewhere sparked a $19B bloodbath.
Not a stablecoin failure, but a masterclass in exploiting flawed collateral valuation during peak macro stress.
_Crypto retweeted
🚨BREAKING: Crypto liquidations soar to $9.4 BILLION in 24 hours – the LARGEST single-day event ever.
Bigger than LUNA. Bigger than COVID. Bigger than FTX.
We just witnessed history.
_Crypto retweeted
The insider who opened trades 30 mins before Trumps tarrif announcement closed the trades for $104m+$88m=$192m profits.
The @HyperliquidX accounts were opened today.
_Crypto retweeted
$CyOp community update #8 recording is now available
Date 10/10/2025
Time 5:00PM UTC
teapaw.org/i/spaces/1vAxRQRdqvaJl
_Crypto retweeted
This Discord Zendesk compromise has gotten more silly.
Previously, the Threat Actors responsible for the Discord Zendesk compromise claimed they had gotten access by compromising a BPO (Business Process Outsource) employee.
They were not lying.
It turns out that in August the Threat Actors who compromised Discord began sending emails to Discord outsourced employees offering them money in exchange for access to Discords internals.
The people they emailed was a very small team located in Southeast Asia. This particular office only has a handful of employees assigned to working Discord helpdesk (including age verification). This team is assigned to primarily handle back log work. This team had a great deal of access and were believed to be "trusted".
One of the emails this small team received offered $500 compensation to prove they're a Discord BPO employee. They offered an additional "several thousand dollar" lump sum payment in exchange for giving them access.
The Discord BPO employees were told to ignore the emails. Unfortunately, it appears one of these BPO employees did not ignore the emails and accepted the bribe.
$500 in this Southeastern Asian country is an astronomical amount of money. The "several thousand dollar" lump sum payment would be enough for this person to live comfortably for several years in their country.
