The hacker of "The DAO" appears to have been found.

Plus, a famous porn star scams her community out of $1.5M

Inside.com Part of   Network February 23, 2022

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The culprit of "The DAO" hack, which stole 3.6M ETH in 2016, has been traced to TenX CEO Toby Hoenisch. Hoenisch denies the allegations; however, a complicated trail of crypto transactions points right to him. The DAO hack The DAO hack infamously prompted Ethereum to do a hard fork, splitting into Ethereum as we know it and Ethereum Classic. The hard fork allowed holders of The DAO token to exchange it for ETH. The hack siphoned off 31% of The DAO's ETH into a new DAO, referred to as the DarkDAO. The fork transformed the DarkDAO's ETH holdings into Ethereum Classic. The Ethereum Classic that DarkDAO holds is still worth over $100M. The hacker also managed to trade some ETC for 282 Bitcoin through an exchange known as ShapeShift, which didn't have KYC at that time. For the last few years, it seemed that the unknown hacker would just forever be sitting on millions of ETH Classic and Bitcoin that he couldn't cash out. Until ... Remember the 282 Bitcoin? Well, the hacker tried to cash those out by sending 50 BTC to Wasabi Wallet, a private desktop Bitcoin Wallet that anonymizes transactions by mixing several together through something called a CoinJoin. Until recently, this worked, but a new technology developed by Chainalysis allowed the company to de-mix the transactions and track them to four exchanges. An employee at one of the exchanges confirmed that the funds were swapped for a privacy coin known as Grin — normally, employees can't disclose customer information like this due to exchange privacy policies. The Grin Token was ultimately transferred to a Grin node called grin.toby.ai. The IP address for that node also happened to host Bitcoin Lightning Network nodes: ln.toby.ai, lnd.ln.toby.ai, etc., meaning it was not routed through a VPN but instead was hosted on Amazon Singapore. The Lightning explorer 1ML showed a node that traced to the IP address called TenX. Toby Hoenish is the co-founder and CEO of TenX. He lives in Singapore. He uses the @tobyai on AngelList, Betalist, GitHub, Keybase, LinkedIn, Medium, Pinterest, Reddit, StackOverflow, and Twitter.

The famous porn star Lana Rhoades has rug pulled her community for ~$1.5M with her "CryptoSis" project. CryptoSis, which is a project that features collections of cartoon images of Rhoades, raised $1.5M from the mint and promised new drops and an extensive roadmap. Rhoades' consistent tweets about the project's roadmap and potential led her community to believe that it was a worthwhile investment. If Rhoades had disclosed that the "CryptoSis" NFT project was purely artwork and not an investment, it would not be considered a scam. Less than a week after the project's launch, Rhoades vanished and withdrew the $1.5M in Ethereum. Fellow porn star Mia Malkova broke the news in the community Discord that Rhoades was leaving.

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The Advertising Stands Council of India has released its guidelines for crypto ads.  The primary guidline is for all crypto-related ads to include this disclosure: "Crypto products and [non-fungible tokens] are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions." More: The words "currency," "securities," "custodian," and "depositories" are barred from appearing in advertisements. All costs associated with the product must be clear and accurate. Returns for periods of less than one year can not be included in ads.

Want to work in web3? Here is what you need to do first. Full article from Cabin Make a "work wallet" separate from your personal one. Your personal wallet can continue to be for trading tokens and buying NFTs. Your work wallet will be exlusively for accepting payments, paying legit business expenses, and paying yourself. You can do so by creating an account on your existing MetaMask or Rainbow Wallet. Make a work ENS. This is technically optional, but yourname.eth is much more approachable than 0x1934e252f840aa98dfce2b6205b3e45c41aef830. Two options  ENS subdomain chad.eth (personal) work.chad.eth (work) Create a completely seperate ENS domain chad.eth (personal) chadwork.eth (work) File as an S-Corp or a single member LLC. LLC is the simplist and easiest. An S-Corp can have tax advantages. Create a business banking account. Brex and Mercury are good options Example: Say you are doing some freelance writing for a DAO.  The DAO sends tokens to your work wallet.  You send those tokens to an exchange connected to your business banking account. You sell those tokens on the exchange for fiat. The fiat is sent to your business banking account. The fiat is then sent to your personal banking account.

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Web3 Tweet: Raval on work.

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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 Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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