- To The Moon
- Posts
- 🚀 🚀 CEO Of Arkham Says People Misunderstand ‘Dox-to-Earn’
🚀 🚀 CEO Of Arkham Says People Misunderstand ‘Dox-to-Earn’
Matthieu Ratrimoson
July 13, 2023
Good evening (because it's always evening somewhere!). You're reading "To The Moon," this Thursday, and we’re diving into why web3 isn’t the wild west for hackers anymore. Plus we cover a whole new set of web3 releases, Comic Con partnerships, and the latest on the ‘dox-to-earn’ platform “Arkham”.
Got feedback for us? Great, don't keep us in the dark! Send all of your thoughts to [email protected].
Web3 Is Not A Hackers Paradise Anymore
CEO Of Arkham Says People Misunderstand ‘Dox-to-Earn’
Half Moons 🌗 - Daily tidbits
NFTevening's Shooting Star 🌠 - Our artist of the day
Dark Side of The Meme 🌚 - your daily dose of NFT laughter
To the Moon index
Web3 Is Not A Hackers Paradise Anymore
Today we’re covering the story of two hackers, both learning the hard way that you can’t mess around with crypto anymore!
Firstly, the U.S. Attorney indicted a Solana computer security engineer for laundering $9 million from the blockchain's DEX crypto exchange. The engineer manipulated a vulnerable smart contract on Solana's exchange platform, inflating certain fees to generate the money.
He then attempted to launder the stolen funds through international transfers and the private cryptocurrency Monero.
The engineer was caught after being indicted by the U.S. Attorney's Office for the Southern District of New York. Social media evidence and internet history revealed his attempts to leave the country and protect the stolen money. He also tried to strike a deal with DEX by returning most of the stolen cash to avoid law enforcement.
Next, is the story of Moroccan man Soufiane Oulahyane, who is charged with a $450,000 OpenSea Spoofing scam and could be sentenced to up to 47 years in prison. He is accused of creating a fake version of OpenSea to fraudulently gain access to users' crypto and digital collectibles through spoofing.
Oulahyane went to great lengths to replicate OpenSea and used paid advertisements to rank his fake site first in search results. Users unknowingly provided their login details, which were transmitted to Oulahyane.
He allegedly transferred stolen NFTs from a victim's wallet and sold them on OpenSea, profiting approximately $450,000. Oulahyane is currently detained in Morocco and faces charges including wire fraud and aggravated identity theft.
CEO Of Arkham Says People Misunderstand ‘Dox-to-Earn’
Miguel Morel, CEO of Arkham, aims to deanonymize the Web3 industry with the controversial 'dox-to-earn' program. Morel defended the program during a Twitter Spaces session, emphasizing its purpose to identify bad actors and prevent fraudulent activities.
Arkham analyzes publicly available information to find connections between entities and wallets but assures data vetting. Targeting large hedge funds and traders, the program excludes individual or private wallets.
Concerns were raised about incentivizing financial attacks and false narratives, citing past mistakes made by Arkham.
Feds? No thanks, I’m:
Morel remained steadfast in the mission, addressing criticisms and acknowledging responsibility. The Twitter Spaces session followed a lengthy tweet where Morel acknowledged and addressed legitimate criticisms of Arkham's features.
🚀Web3 Job Board
💼 Hey Degens! Want to earn a living by living at the edge of tech? Here are some cool finds we have for you:
Half Moons 🌓
Luxury Meets DeFi: Arcade.xyz Introduces NFT Collateralized Watch Loans [NFTEvening]
Ordinals Ignite Bitcoin NFT Frenzy with 350K+ Daily Inscriptions [NFTEvening]
NFT Brands are Embracing Comic Con in 2023! [NFTEvening]
Dan Harmon's Blockchain-Backed Animated Series 'Krapopolis' Sets Premiere Date [NFTEvening]
Shooting Star 🌠
Vincenzo is a 19-year-old student artist, based out of New York. Currently studying Integrated Design at Parsons School of Design, and mainly experimenting with abstract art. Learn more about the artist at vincenzopagnotta.com, and get in contact through direct message on Twitter (@VWPNY).
Featured Art: BLOB 25
Who's next!? Respond to this email with your artwork and a brief description of yourself for a chance to be featured in our newsletter!
Dark Side of the Meme 🌚
Feature Your Brand In Our Newsletter!
Advertise in To The Moon and reach 30,000 of our passionate readers!
ewsl