GM. This is Degen Scoop. It’s Monday, here’s the scoop:

• Vitalik’s Twitter Account Hacked 👨‍💻

• Coinbase Outlines International Expansion Plan 🗺️

• Crypto Exchange CEO Gets 11,000 Year Jail Sentence ⛓️

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Vitalik’s Twitter Account Hack Leads to Six Figure Losses

On Saturday, Vitalik posted about the release of a commemorative NFT that “he” was releasing alongside Consensys, but this was a trap posted by the hacker. Unfortunately, many people tried to mint the NFT and ended up getting hit by the vacuum waiting for them. You can see the hack in progress in tweets from ZachXBT below.

This goes to show that you always need to have your guard up, use proper OpSec, double check contract addresses, use a 2FA app, and don’t rush when transacting on-chain. Despite the improvements we’ve seen, things are still far from perfect. For what it’s worth, if you see someone posting about an urgent NFT mint there’s a good chance it’s a trap.

Coinbase Engages in Phase 2 of International Expansion Plan

It’s no secret that Coinbase is the most accepted crypto exchange to use for American users. Recently they released their international expansion plans detailing their strategy. We’re finally beginning to see regulatory clarity surrounding crypto in certain domains which makes conducting business simpler.

Phase 2 will focus on going through the proper channels to operate in clear rule countries, establishing relationships with international banks, engaging with community, and working with G20 and other financially important institutions. Change and building takes time, but it’s a well known fact that the best time to do this is in a bear market while the world becomes a bit more welcoming to crypto by the day.

Faruk Özer, CEO of Thodex, Receives 1100 Year Jail Sentence

The Turkish crypto exchange Thodex was founded by Faruk Özer. The founder along with his brother and sister have received an 11,000 year jail sentence for the collapse of the exchange. In April 2021, the exchange went offline and the founder went missing after its fall. Thodex was one of the largest crypto exchanges in the country and was holding roughly $2B worth of user deposits.

Özer had escaped to Albania but was arrested in August 2022. In April of this year, Özer was extradited back to Turkey and received various financial charges including fraud and laundering. The trial saw 21 defendants receive a total of 40,000 years in prison for their crimes relating to the fall of Thodex. Time will tell if SBF sees a similar punishment for his crimes.

Notable NFT Sales Over the Weekend:

Notable Threads You May Have Missed:

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.