A look at the OpenSea phishing attack.

Plus, a market nuking Coinbase bug is averted.

Inside.com Part of   Network February 21, 2022

Presented by

An apparent phishing attack struck 32 OpenSea users Saturday leading to the loss of 54 tokens worth approximately $1.7M.  What went down: OpenSea CEO Devin Finzer described the attack in two parts: Victims signed a partial contract with a general authorization. With the signature, the attackers completed a contract call to their own contract which transferred ownership of the NFTs. Key details: All malicious orders contained valid signatures meaning all were related to phishing and not a systemic issue with OpenSea. None of the malicious orders were executed against the new (Wyvern 2.3) contract which indicates they were signed before the migration flow.

A pseudonymous researcher known as Tree of Alpha was rewarded $250,000 by Coinbase for discovering a "market-nuking" bug in the platform's beta trading feature. The bug would have allowed a user to sell any crypto as long as they had the same numerical amount of a different coin. For instance, the bug would allow someone to sell 100 Bitcoin with 100 Dogecoin. More: Tree of Alpha discovered the attack after finding it possible to use 0.0243 ETH to sell 0.0243 BTC on the BTC-USD pair without holding any BTC. Many consider the $250K bounty for such a potentially devastating bug very low. Tree of Alpha explained that the size of the bounty is related to the severity of the issue. Since the bug wasn't exploited, Coinbase can make the claim that the severity wasn't high.

A message from CELSIUS NETWORK Welcome to Celsius, your new home for crypto. We’ve made some major updates and enhancements to our mobile app experience to make Celsius easier for you to Buy, Swap, Earn and Borrow with crypto.  Mission-driven We’re often asked at Celsius, “What makes you different from those other guys?” Whether those “other guys” are traditional banks or similar crypto companies, the answer is always the same: Celsius is driven by the success of our external impact first rather than our internal bottom line (do well then do good). We exist to give anyone, anywhere, unparalleled access to reach financial freedom.  Our goal is to allow anyone and everyone access to fair, rewarding, and transparent financial services. New home for all things crypto When we say Celsius is your home for crypto, we mean it. In 2022, we will be adding more coins, launching CelsiusX (the DeFi arm of Celsius), and Credit Card so you can earn rewards while you swipe, and all under the Celsius ecosystem. Check out Celsius Now

FTX American affiliate FTX.US is launching a new business aimed at helping gaming studios integrate blockchain and NFT technology into their games.  More:  FTX Gaming, as it will be named, will be a "crypto-as-service" platform from which game publishers can launch tokens and support NFTs. FTX.US is hiring C# and Unity developers. FTX.US president Brett Harrison commented that gaming will be a big part of the exchange's 2022 plans.

The NFL's Denver Broncos are for sale and a DAO wants to be the buyer. The DAO would have to raise over $4B to have a chance at buying the franchise. More: The DAO, led by former CISCO council Sean O'Brien, will go live this week. The DAO will incorporate as a cooperative and will give participants parallel ownership in it. In addition to the price range, the DAO will need to overcome a 1980 ban by the NFL on community ownership. (The Green Bay Packers were grandfathered in.) They will also need to overcome the NFL's requirement of one owner needing at least 30% equity in the team, as well as a limit of 32 owners per team. Other rumored potential buyers include Larry Ellison, Jeff Bezos, and an ownership group led by Peyton Manning.

A message from INSIDETRACKER 5 Blood Biomarkers You Should Know InsideTracker products have helped thousands of people improve their lives by improving their bodies from the inside out, using personalized recommendations for nutrition, supplements, and lifestyle. InsideTracker has identified five main blood biomarkers that relate to performance and recovery.  All five of these biomarkers are measured as part of their Ultimate Plan. By tracking these five biomarkers throughout your training cycle, you can transform your overall health, performance, and recovery.  Blood analysis provides a unique window into the health and performance of athletes.  Athletes can now rely on blood testing to pinpoint biomarkers that may be helping or hurting their game and get insights on implementing effective changes to improve their performance and recovery.  For a limited time, InsideTracker is offering Inside subscribers a FREE ebook: 5 Blood Biomarkers All Athletes Should Know Claim Your Free Ebook

Web3 Tweet: Creator Cabins on how to work in web3:

QUICK HITS This startup has upended commercial real estate investing by taking buildings public via IPO.* Vitalik Buterin called Canada's financial censorship "dangerous." Russia's finance ministry doesn't want crypto to be legal. NFT artist SHL0MS blew up a Lamborghini and is now selling 999 shards of it. Disney has appointed Mike White, its former senior VP of consumer experiences and platform. to lead its metaverse strategy. Loop TV provides fully licensed TV content for businesses. Ditch cable and satellite. Switch to Loop TV for free. Sign up today.* * This is sponsored content.

Upcoming Events: February 22 - The Future of Tax & Accounting for Crypto, DeFi, & NFTs is here. Are you ready? (Register Here) * February 22 - Venturing in VC - Episode #7 with Roy Bahat (Bloomberg Beta) (Register Here) February 23 - Need to Know NoCoder: Derya Sousa (Kianda Technologies) (Register Here) February 24 - Alternative Investments (Register Here) February 24 - Conversational AI in eCommerce with Flipkart (Register Here) * February 28 - Inside Investment DAOs with Global Coin Research (Register Here) March 10 - NoCode's Impact on the Gig Economy (Register Here) March 23 - Need to Know NoCoder: Nichole Bestman (Bubble) (Register Here) March 31 - How To Build In Web 3.0 (Register Here) April 06 - Entertainment in the Metaverse (Register Here) April 07 - Blockchain and the Law (Register Here) April 14 - Shopping In The Metaverse (Register Here)

Trevor Grant is an entrepreneur, investor, and writer based out of Chicago, Illinois. His primary area of interest is web3 venture capital, social tokens, and infrastructure. Other pursuits include screenwriting, yoga, and traveling. He holds a BS in biomedical engineering.   Connect with him on Twitter @trevorisonline Editor Beth is an Inside Analyst and a former public policy/investigative reporter. She has covered AI, VR, technology, and e-commerce for Inside. When she's not busy writing, she's hiking in Arizona's desert, playing pickleball, or trying out new Mexican food recipes.

Find your crypto home with Celsius.

See the 5 Blood Biomarkers You Should Know from InsideTracker

Click to Share ➞

767 Bryant St. #203, San Francisco, CA 94107 Copyright © 2022 Inside.com

Did someone forward this email to you? Head over to inside.com to get your very own free subscription! You received this email because you subscribed to Inside Cryptocurrency. Click here to unsubscribe from Inside Cryptocurrency list or manage your subscriptions.