Jerry | Lightswarm

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@Jeremybtc On the bright side, Solana network didn't go down

Someone spent $500, planned for weeks, and stole $285 million from a crypto protocol. On April Fools Day. > The target was Drift Protocol. One of Solana's largest DeFi protocols. > It held $550 million in user funds the morning of April 1. > The attacker started preparing in March. Nobody noticed. > They created a fake token called CarbonVote Token. Minted 750 million units. Seeded a liquidity pool with $500. > Wash traded it for weeks until real price oracles reported it as legitimate. > At the same time they socially engineered two of Drift's five Security Council signers into pre-approving transactions. > Using a Solana feature that lets transactions be signed in advance and executed later. > On April 1 at 11:06am they pulled the trigger. > Listed the worthless token as real collateral. Raised withdrawal limits to unlimited. Borrowed every real asset in the protocol. > $309 million dropped to $41 million in minutes. > Not a smart contract bug. Not a code exploit. Not a seed phrase leak. > One admin key. That's all it took. > They swapped everything into USDC and bridged $230 million through Circle's own crosschain bridge to Ethereum. > 100+ transactions. Six hours. During US business hours. > Circle did nothing. > Nine days earlier Circle had frozen 16 legitimate business wallets with no warning for a sealed US civil case. > Legitimate businesses frozen. $230 million in stolen funds walked straight through. > The attacker deliberately avoided USDT the entire time. They knew Circle wouldn't act. > The stolen funds are now 130,000 ETH sitting in a single wallet tracked live on Arkham. > Currently worth $264 million. > The wallet was first funded through Tornado Cash. > The attacker also deposited directly into Binance. KYC data may exist. > Drift TVL went from $550 million to $24 million. > DRIFT token down over 40%. > Second largest Solana hack in history behind only the $326 million Wormhole bridge exploit in 2022. > Drift had to open their emergency announcement with: "This is not an April Fools joke." The $264 million on Arkham confirms it wasn't.

@chefsevenn This needs to be in deep freezer

What is your first thought when you open this fridge?

Ahora se porque muchos críticos odian la película de Super Mario Galaxy: 1. El héroe es un hombre blanco heterosexual. 2. Peach y Rosalina son femeninas y no son lesbianas. 3. No hay personajes no binarios o trans. 4. No hay cambios de color en personajes 5. No hay adoctrinamiento woke, solo diversión para toda la familia, sobre todo para los niños.

No existe el Ketchup, ¿qué le pones?🤔

@00TATTS @alberdioni8406_ @_paytaca_ @BCH_BULL @bch_cashalyst @bch_sun @bchbliss @BitcoinCash1314 @BitcoinCashOG @blockchaynwayne @bobcatbts So many fun platforms to put these funds in anyways

🚨🚨🚨 B-C-H BANK RUN 🚨🚨🚨 Not your keys… not your coins. Today we move. Off exchanges → into self custody. This isn’t panic… it’s power. Proof of real demand. Proof of real ownership. We are the liquidity. We are the market. Withdraw your B-C-H. Be your own bank. 🟢

@sarbjitkaur1 only with the money from people who actually want to see this happen. everyone else can opt out (treat it like a costco membership)

MY GOD CAN WE TRY THINGS?? IS IT PERMITTED!?

@vibhu @yonann bruh x.com/search?q=from%…

@yonann what people from solana foundation talked about zcash?

Threadguy goes off on Solana and Zcash "you probably could have started shorting Solana when everybody from Solana Foundation started talking about Zcash and you would have made out like a bandit" "I love Solana but when the foundation only wants to talk about another token that's when things get a little dicey"

@WHLeavitt You know, you guys could just take this guy's organs like y'all did to that girl in UK

🇬🇧 UK: London — Mohammed Sufiyan from Pakistan arrived just five days ago and tried to rape a 12-year-old girl and two 13-year-olds. He was caught by British patriots. What should we do with this monster? A. Life sentence B. Deport C. Execute and deport the remains.

If Queen Elizabeth was a Rolls Royce what is King Charles?

From racist Japanese to Brits wanting their King gone, today has been amazing on X

@SirJoey Sir, Brood War is still going strong 25+ years in. Blizzard largely stepped out of the scene, and everything is effectively community run youtube.com/watch?v=LqeJOt…

I miss the old school gaming days League of legends in it’s peak RuneScape in it’s peak MW2 in it’s peak Some will say it’s wasted time All I can say is that it was a lot of fun, gaming hasn’t been the same since

@AzFlin x402 is predominantly using EVM transaction models. It doesn't seem to support UTXO chains like BTC

x402 is useful but 99% of you know don't know what it does/how it works if you did, you wouldn't be forcing an entire narrative around "x402 agentic commerce!!1"

@reardencode @DavidFBailey @nakamoto @nic_carter @brian_armstrong @saylor Turns out, quantum proof vaults can sweep 8+ utxos more efficiently today than sweeping standard address scripts (P2PKH or P2WPKH) blog.bitjson.com/quantumroot/

Quantum is just the FUD of the month. There's no actual risk in the next decade. No quantum computing technology has shown even a single cycle of scaling up. None has solved any cryptographic problem of any size faster than a classical computer. None has ever demonstrated sub-exponential time scaling with cryptographic problem bit size. DYOR and don't trust non-technical, non-scientist public figures to do your thinking for you.

I’ve had my hands full with @nakamoto so there are a number of Bitcoin topics I haven’t had the bandwidth to dive into. That said, credit to @nic_carter @brian_armstrong and @saylor for surfacing the quantum issue. I don’t know how close the threat is. But if there’s even a 1% chance it impacts Bitcoin within the next decade, it’s something we should take seriously. Bitcoin has survived every credible threat so far. Each one we confront and solve only strengthens confidence in Bitcoin’s long term viability and marches us further down the path of inevitability. When we have the capacity, we’ll look for ways to support community and industry efforts here.

@matthewjablack ngl, i wrote better midnight essays in uni than this

This looks like it was written by ChatGPT after skimming the DLC Specs repo Sometimes, it's good to have a human touch Let me add some human context from someone who's actually shipped DLC financial products, settling 100's of millions of dollars 🧵

@matthewjablack @LygosFinance Preaching from the $BCH choir to the $BTC choir. BTW, there's going to be a 2nd (algo) stablecoin coming for BCH, which will involve $BCH-backed collateral for issuing said stablecoins as loans

@Lightswarm @LygosFinance You're preaching to the choir x.com/matthewjablack…

I recently saw the Firefish paper on “Why DLCs are a poor fit for Bitcoin-backed lending” As someone who has shipped DLC financial products, settling 100's of millions of dollars, and currently building @LygosFinance, I thought I'd give my two sats They say we "forgo scalability, privacy, and accountability." Let’s break this down 🔎 1. The "22 million CETs" problem they describe? That’s not how we build DLC loans. They assume you need a CET (contract execution transaction... aka all the outcomes) for every (date × price) combination. That’s what 10101 did for perpetual-style contracts. We use 4 enumerated outcomes. That’s it. Around 5 seconds to set up The four outcomes are: - Not funded (48h timeout) - Repaid - Liquidated by price - Liquidated by maturity The oracle monitors and attests when events occur. No need to pre-compute every possible price/date combination. 2. Privacy. They’re partially right. Our oracle knows loan parameters on the stablecoin side: loan amount, liquidation price, repayment status. But it does NOT know: - Where the BTC is locked - Who the borrower/lender are - The payout addresses Privacy of your BTC is well preserved with this system 3. Scalability and Accountability. They're right that we trade these off today. Each loan has its own oracle event rather than sharing announcements across many DLCs. However, even with this trade-off, you still get more privacy than a 2-of-3 multisig with an arbiter who knows everything...including exactly where your BTC is locked 4. Long term? Disjoint union fixes this. Many loans can share the same price threshold oracle. This improves scalability and accountability, and makes privacy even better. Also! Multi-Oracle + Disjoint Union improves this even more! You can have several price threshold oracles, and different stablecoin payment movement oracles, and use all their announcements together in one DLCs, reducing reliance on any one oracle. Imagine trying to do "multi-arbiter" with a 2-of-3 / 3-o-5 or 5-of-8 or whatever. Every arbiter needs to have custom software to pass around a PSBT like a hot potato. All the arbiters need to know about each other, which also makes it easier for them to collude. With DLC oracles, the oracles don't need to know about each other, and don't need to communicate with each other. You can simply grab the announcements from all the different oracles, and use it in a DLC. The oracles don't even know if you're using their announcement and attestations or not! All of this ^^^ is why IMO DLCs are still the best solution out there for Bitcoin-backed loans The arbiter doesn't see where your Bitcoin is locked It has the capability for the oracle to be even more blind And it has the capacity to expand to multi oracle, much easier than an arbiter system DLCs are here to stay As @MartyBent always says, everyone is still SLEEPING on DLCs 🫡

@bcfe70bord where's the yakuza where you need them? bet if this club was under yakuza protection, you wouldn't see this happen ever (might see more body parts though)

外国人が日本語で怒る。。。 クラブで財布を無くした外国人。 クラブの店員が「一緒に警察行こう」となだめるも「黙れ」と叫び怒り続ける。 もう外国人は日本に来ないでくれ。 日本人が疲弊するだけ。 移民や外国人観光客を更に増やすとか言ってる政府はアホか？ 治安が更に悪くなるぞ。

@SoveyX you must be talking about non-asians being attracted to asians. cuz typically, we just call it plain old attraction

Why is attraction to blonde, blue-eyed women considered a preference, but attraction to Asian women gets labeled a fetish?

@jokieliu If we had vast amounts of Chinese users on X instead of their own platforms, I'd imagine we'd be seeing the same effect

Turns out translating Japanese tweets has the same effect of translating Hebrew tweets.

@EricRStPierre Hell yeah, we just need to go back to our WW1 mentality for running a country

Question of the day: Is Canada still salvageable given its current state?