Sometimes stealing crypto is the ethical choice – Meczyki.Net

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The world of crypto moves fast and sometimes when there is an ongoing robbery the best thing that a technically savvy but ethically strong user can do is to indulge in a robbery. That’s what happened this week when the Nomad Token bridge began to collapse and white hat hackers were trying to steal crypto from the exchange as quickly as possible (to return later).

hello and welcome back chain reaction The podcast, where we unpack and explain the latest crypto news, drama and trends, break it down block by block for the crypto curious. This week, we welcomed a new co-host (senior TC+ reporter Jackie Melinek), and we delved into the Robinhood layoffs, the Solana wallet hack drama, and the Grand Nomad bridge heist.

Ethical hackers aren’t often forced to make the snap decisions it takes to steal millions of dollars from a crypto project, but in the wild west of Web3 sometimes the best thing you can do is to fill your bag when something goes wrong. . As viewers watched in horror as the $190 million Nomad Token bridge collapsed, some jumped to the rescue and repeated the exploits used by black-hat hackers to steal more funds from the project.

Several people were chronicling their theft in real time on Twitter and users were pledging to return the money to be reimbursed. Although the hack was very disastrous for all parties involved, so far about 10% of the total funds stolen have been returned to the exchange, with one white hat hacker returning up to $4 million.

As well as the Nomad hack, we work very deeply for a low-cost but potentially more horrific hack of the Solana wallet infrastructure that caused thousands of users to mysteriously lose their funds. We also talked about Robinhood’s recent struggles, which fired nearly one-quarter of its employees this week.

You will see a big change this week for the loyal listeners. There is no interview! Going forward we will split our news analysis and interview sections into individual episodes so that every Tuesday you can sit down and hear us sit down with a crypto expert and every Thursday we will drop an episode discussing the latest crypto news. Early next week, tune in for an interview with Uniswap’s MC Lader as we discuss the different worlds of centralized and decentralized finance in crypto.

Chain Reaction podcast episodes air every Tuesday and Thursday at 12:00PM PDT. subscribe us Apple, Spotify Or your alternative podcast platform of choice to stay tuned with us every week.