Crypto News Recap - A 99% Drop in Value - July 31st- August 7th 2020

A 99% Drop in Value
Plus two 51% attacks, extortion, an exploit, and an exit scam.

News Recap Synopsis and additional links found on the unchainedpodcast.com website: https://unchainedpodcast.com/a-99-drop-in-value/

As prices swell and traction begins to build in everything from Bitcoin purchases to DeFi activity, there’s also quite a bit of activity going on in the underbelly of crypto -- hacks, attacks, scams. Leading the week’s news was the arrest of Graham Ivan Clark, the alleged mastermind of the Twitter hack, who turned out to be a 17-year-old self-proclaimed “full time crypto trader dropout.” There were also two 51% attacks on Ethereum Classic, an exit scam on a Korean fork of YFI and an exploit on Opyn. But there was positive news too, with Square’s Cash App more than doubling its Bitcoin sales revenue from Q1, and Ethereum launching the testnet for Ethereum 2.0. And, it seems lawmakers are looking to protect future proof-of-stake validators from massive IRS headaches.

Twitter Hack Mastermind Was 17-Year-Old
https://www.nytimes.com/2020/08/02/technology/florida-teenager-twitter-hack.html

Square’s Cash App Bitcoin Sales More Than Double to $875 Million
https://www.theblockcrypto.com/amp/linked/74001/square-q2-bitcoin-cash-app#click=https://t.co/gYmi3FnUsX

Ethereum 2.0 Testnet Goes Live
https://www.coindesk.com/ethereum-2-0-testnet-medalla-goes-live-with-20000-validators

Ethereum Spot and Future Volumes Growing Faster Than Bitcoin’s
https://www.theblockcrypto.com/genesis/73752/ethereums-spot-and-futures-volumes-are-rising-faster-relative-to-bitcoins

Two 51% Attacks on Ethereum Classic: The First Nets Attacker $5.6 Million
https://decrypt.co/37721/hacker-nets-over-5-million-ethereum-classic-51-attack

4 House Members Ask IRS Not to Tax Proof-of-Stake Block Rewards
https://www.coindesk.com/us-lawmakers-dont-want-proof-of-stake-networks-to-get-overtaxed

DeFi Hacks, Scams and Blunders Roundup
https://www.theblockcrypto.com/linked/73935/opyn-uniswap-liquidity-exploit-eth
https://www.theblockcrypto.com/post/73737/creator-of-yfi-fork-asuka-token-is-said-to-have-exit-scammed
https://blog.trailofbits.com/2020/08/05/accidentally-stepping-on-a-defi-lego/
https://www.theblockcrypto.com/linked/73958/sec-smart-contract-tool

FUN BITS
For Those Who Remember the Days of the DAO …
https://twitter.com/danrobinson/status/1291242583037861888?s=20
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

FOLLOW THE UNCHAINED and UNCONFIRMED PODCAST!

WEBSITE → https://unchainedpodcast.com
NEWSLETTER → https://unchainedpodcast.com/category/newsletters/
FACEBOOK → https://www.facebook.com/UnchainedPodcast/
TWITTER → https://twitter.com/laurashin
YOUTUBE → https://www.youtube.com/channel/UCWiiMnsnw5Isc2PP1to9nNw/
LINKEDIN → https://www.linkedin.com/in/laurashin/

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

NEW EPISODES OF UNCHAINED EVERY TUESDAY!

Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1
Google Podcast → https://www.google.com/podcasts?feed=aHR0cDovL3VuY2hhaW5lZC5saWJzeW4uY29tL3VuY2hhaW5lZA%3D%3D
RSS Feed → https://unchained.libsyn.com/unchained
Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
Stitcher → https://www.stitcher.com/podcast/forbes-podcast-network/unchained-big-ideas-from-the-worlds-of-blockchain-and-fintech
TuneIn → https://tunein.com/podcasts/Business-News/Unchained-Big-Ideas-From-The-Worlds-Of-Blockchain-p887100/
Youtube → https://www.youtube.com/playlist?list=PLySrw1Nvf-spgSyIkuj8mgibH-ipcUGrs
Website → https://unchainedpodcast.com/category/unchained/

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

NEW EPISODES OF UNCONFIRMED EVERY FRIDAY!

Apple → https://podcasts.apple.com/us/podcast/unconfirmed-insights-analysis-from-top-minds-in-crypto/id1347049808?ls=1&mt=2
Google Podcast → https://www.google.com/podcasts?feed=aHR0cDovL3VuY29uZmlybWVkLmxpYnN5bi5jb20vcnNz
RSS Feed → https://unconfirmed.libsyn.com/rss
Spotify → https://open.spotify.com/show/67Kt4UameBIU6KFUl8QJKj
Stitcher → https://www.stitcher.com/podcast/laura-shin-4/unconfirmed-insights-and-analysis-from-the-top-minds-in-crypto
TuneIn → https://tunein.com/podcasts/Business--Economics-Podcasts/Unconfirmed-Insights-and-Analysis-From-the-Top-Mi-p1102228/
Youtube → https://www.youtube.com/playlist?list=PLySrw1Nvf-sq_on95HOXeQnz4LStIiUWG
Website → https://unchainedpodcast.com/category/unconfirmed/

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

YOUR NO-HYPE RESOURCE FOR ALL THINGS CRYPTO!

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++