This weekend has been packed with significant events in the crypto world. From potential revelations about Bitcoin’s creator to security incidents affecting major players, there’s much to discuss. In this recap, we’ll cover these key happenings.
If you enjoy this format, we’ll consider making it a regular feature! However, we’re not trying to pivot to a crypto news outlet. We’re still here for the airdrops! Just, we believe some things you should be aware of while you are in this industry, Wether you’re farming airdrops, trading crypto or you are here for the meme coin shenanigans. Staying up to date will help you make the right decisions.
1. Will Satoshi Nakamoto Be Doxxed?
There’s fresh speculation surrounding the identity of Satoshi Nakamoto, the mysterious creator of Bitcoin. Recently, the late cryptographer Len Sassaman has gained attention, with bettors on Polymarket favoring him as the potential Nakamoto.
On October 3, filmmaker Cullen Hoback announced a new HBO documentary titled “Money Electric: The Bitcoin Mystery.” He hinted at searching for someone who has vanished, possibly referring to Nakamoto. Hoback previously produced the miniseries “Q: Into the Storm,” where he claimed to identify authors behind the QAnon conspiracy.
Although the documentary’s creators have not confirmed who they believe Nakamoto to be, bettors quickly placed their stakes. As of October 5, 44.5% of Polymarket participants supported Sassaman, while other notable figures like Hal Finney and Nick Szabo also received attention.
Who Was Len Sassaman?
Len Sassaman was an American cypherpunk and cryptographer known for his significant contributions to privacy and cryptography. He moved to San Francisco as a teenager and became an influential figure in the cypherpunk movement. He worked on pivotal projects like Pretty Good Privacy (PGP) and co-founded the startup Osogato.
Sadly, Sassaman struggled with mental health issues and died by suicide in July 2011 at age 31. A tribute to him was later encoded in the Bitcoin blockchain, honoring him as a “friend” and “kind soul.”
Could Sassaman Be Satoshi?
Several factors contribute to the speculation that Sassaman might be Nakamoto. Notably, Nakamoto’s last communication with the Bitcoin community occurred just two months before Sassaman’s death. After Nakamoto’s final email on April 23, 2011, he vanished without explanation.
Additionally, Sassaman collaborated with Finney, another candidate for Nakamoto’s identity. Both were involved in remailer technology, an early form of cryptography essential to Bitcoin’s development. Sassaman’s expertise also included solving the Byzantine Fault problem, a critical challenge in creating decentralized systems.
Finally, Sassaman’s location during Bitcoin’s early development adds another layer of intrigue. His background in British English and timing suggests a possible connection to Nakamoto.
2. LEGO Removes Crypto Scam from Homepage
In an unexpected incident, LEGO Group recently faced a hacking attempt. A “LEGO Coin” scam briefly appeared on the company’s homepage on October 5. This token promised “secret rewards” to buyers before being taken down after 75 minutes.
The LEGO community quickly spotted the scam, with users sharing screenshots on social media. Although LEGO has not issued a public statement, they confirmed that user accounts were not compromised. They stated, “The cause has been identified, and we are implementing measures to prevent this from happening again.”
3. Telegram Introduces NFT Conversions for Gifts
Telegram is making strides in the NFT space. On October 5, CEO Pavel Durov announced that users would soon be able to convert animated gifts into NFTs. These gifts can be displayed on user profiles and converted into the platform’s in-app currency, Stars.
While a specific launch date for the NFT feature has not been announced, it is expected later this year. Durov highlighted that some gifts would be available in limited quantities, making them collectible.
This development follows Telegram’s earlier introduction of Stars, which allows Mini Apps on the platform to accept payments. Additionally, Telegram-based games like Hamster Kombat are also looking to incorporate NFTs as in-game assets.
4. Old Bitcoin Whale Moves BTC from 2009
An “ancient” Bitcoin whale has recently moved more Bitcoin mined in the early days of the network. Arkham Intelligence reported that this whale transferred 10 BTC, worth about $610,000, to the Kraken exchange on October 3. Since September 24, they have sent a total of $3.58 million in Bitcoin to Kraken.
The wallet address associated with this whale had been dormant for nearly a decade. After initially moving some BTC between 2011 and 2014, it remained inactive, increasing in value from $474,000 to over $80 million during that time. Speculation continues about the true identity of Bitcoin’s creator, especially with HBO’s upcoming documentary set to explore this mystery.
5. EigenLayer Investor Hacked for Nearly $6 Million
In a concerning incident, Ethereum restaking protocol EigenLayer reported that nearly $6 million was stolen from an investor. On October 4, EigenLayer announced it was investigating unauthorized selling activity linked to a compromised wallet.
The wallet address involved sold about 1.6 million EIGEN tokens, valued at approximately $5.7 million. EigenLayer clarified that the hack was an isolated incident and that their protocol remains secure.
The malicious actor gained access to an email thread regarding the investor’s token transfer, resulting in the theft. EigenLayer has since contacted law enforcement and several exchanges to freeze a portion of the stolen funds.
Despite the hack, EigenLayer emphasized that there are no vulnerabilities in its protocol or token contracts. They continue to investigate the incident and will provide updates as more information becomes available.
This goes to show, that online security should be your main priority. A simple thing like an email hack, led to the exploit of $6 million.
Conclusion
This weekend has shown the ever-evolving landscape of the crypto industry. From potential revelations about Satoshi Nakamoto to security incidents affecting established platforms, there’s always something happening in this dynamic space. Stay tuned for more crypto recaps, and if you find this news roundup valuable, we’ll keep it coming!
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