Sim Swap Hack On Peak!💀

Welcome 🙏to Joint #12! We are sure to give you some insights about this week's weekly updates too🥳 keep reading!

This week was really happening and yes aapko ni idea…but worry not! Web3 Stash Hai na😇 Let's start by having a look at BTC and ETH 👀

Abhi let's dive into some good web3 news and trust me it's fun keep reading😭😭🤌🏻 Today we will be covering the following topics -

1. Sim Swap Hack ☠️

2. Friend.Tech - Will it survive?🤔

3. Wtf is Shibarium ?🗿

4. Coinfest Asia 2023's Sponsor 🥳

☠️Sim Swap Hack☠️

Over the past four months $13.3M+ has been stolen as a result of 54 SIM swaps targeting people in the crypto space!💰🤌

Why is all this happening 😭😭let's find out! First we will understand what we mean by Sim Swap🤔

A SIM swap hack, also known as a SIM card swap attack, is a type of cyberattack where a hacker gains control of a victim's phone number⚒️🎩

This is done by convincing the victim's mobile carrier to transfer the phone number to a SIM card controlled by the attacker😭😭🥲(bloody genius)

This can be done through social engineering or exploiting vulnerabilities in the carrier's security procedures📉

Once the attacker gains control of the victim's phone number, they can use it to reset passwords, gain access to accounts, and potentially take over the victim's cryptocurrency accounts🌐😱

This type of attack can be particularly damaging in the context of cryptocurrency because it allows the attacker to bypass two-factor authentication (2FA) measures that rely on sending verification codes to the victim's phone number😭😭🤌🤌not even crypto safe 🥺

Now that we know how this happens, let's see what has happened recently that brings this topic in news🌐

Bart Stephens, cofounder and managing partner of crypto fund Blockchain Capital, has filed a lawsuit against an anonymous hacker who stole $6.3 million of bitcoin, ether and other cryptocurrencies from his digital wallets! 💰x 0 😱 

The hacker ordered a new cell phone after seizing control of his cellular network account, and then ported Stephen’s private cell number to a SIM in the new device. Now, that’s a genius move💀🦨

Stephens’ lawsuit claims that the hacker used his cell phone number to reset passwords, and pass two factor authentication tests,🚫 at several unnamed digital wallets💸

Better be aware!🚫🚫😭😭😭

 🤔 Friend.Tech - Will it survive?🤔

Social media has become an integral part of our lives, connecting us with friends, celebrities, and influencers👨‍💻

However, the landscape is evolving rapidly with the introduction of blockchain technology and cryptocurrencies. Considering this, we now have a new social media platform 🥳🥳

The new application, called Friend.Tech has garnered over 2000 ETH 💰and more than 100,000 transactions in a single day, rivaling OpenSea!😭😭🤌🤌

Friend.tech is not your typical social media app. It operates on Coinbase’s Base chain, a layer 2 blockchain, which offers negligible gas fees and instant transactions🔒✅️

The platform enables users to tokenize their Twitter profiles by connecting them to an Ethereum wallet. 🕊

Each Twitter profile on friend.tech is represented by shares, which users can buy and sell. This essentially transforms personal brands into tradable assets🙌📈

The pricing of these shares follows a unique mechanism known as a bonding curve 📉📈 As more people invest in a particular Twitter profile’s shares, the price increases 🔺️by a predetermined percentage.

Conversely, when shares are sold, the price decreases 🔻by the same ratio. This innovative model merges social media engagement with the principles of tokenomics! NEW AGE APP AFTERALL🥳🥳

Friend.tech has captured the attention of crypto enthusiasts and traders due to its distinctive approach and the capabilities on the Base Layer-2 chain.🔗🌐

The platform charges a 5% trading fee, which is reasonable compared to membership NFTs, and shares a portion of it (5%) with the creators. 💸This fee structure aligns incentives, motivating creators to deliver consistent value to token holders! 🎊🎊

(Recently Opensea stopped this, so this is for sure the final nail in the coffin!)☠️💀

While friend.tech is still in its early stages, its unique approach to social media and tokenization holds promise. 🙏

With the seamless integration of blockchain technology, this platform has managed to attract attention within the crypto space and beyond as well🤌🤌

So, THIS APP WILL SURELY SURVIVE IF YOU ASK ME🥺❤️

🤔WTF is Shibarium🤔

Shiba Inu Yaad hai na? Ofc hoga hi, well we have some news coming in🥳🥳🥳

The world of cryptocurrency is ever-evolving, with innovative projects and new platforms frequently emerging to redefine the digital finance landscape💰🌐

One such exciting initiative is Shibarium,😸 a future development in the ecosystem of the Shiba Inu token!

As a Layer 2 solution, Shibarium aims to address the pressing issues of scalability and transaction costs in the Ethereum network.📈🔺️

It is designed to interact seamlessly with the primary Ethereum blockchain (Layer 1), providing a more scalable and cost-effective transaction platform🤌🤌🤌🥳🥳

By offering faster and cheaper transactions, Shibarium not only enhances the usability of the Shiba Inu token but also has the potential to play a crucial role in the broader adoption of blockchain technology! BOLE TOH PROGRESS HI PROGRESS🎊🎊

The details about its operation and other technical aspects are under wraps as it’s still in the development phase! But we all are waiting so bad🤌🤌😭😭

Shibarium is more than just a technological development within the Shiba Inu ecosystem. It is a living, evolving entity that grows and adapts to the needs of its community✅️❤️📈

I hope this explanation added value to you guys and you all are aware of Shibarium now😸❤️ and now I want you guys to share this newsletter within your group and get us some more subscribers!🥺🥺

That's the only fee you guys need to pay for getting many more cool explanations on complicated topics🤌🏻 SUBSCRIBE NOW!

💸Coinfest Asia 2023's Sponsor💸

Coinfest Asia stands as a flagship event in the Asian Web3 landscape💰

As Indonesia's foremost annual crypto and blockchain gathering, it consistently attracts a diverse mix of cryptocurrency enthusiasts, investors, emerging entrepreneurs, and technical experts from various nations!🌐🔗💸

Leveraging the success of its 2022 edition, which boasted attendance from over 2,000 individuals👨‍💻, collaboration with 40+ media entities🙌, Coinfest Asia 2023 is gearing up to surpass its own legacy!🎯📈

Gate.io, a world-leading digital asset trading platform, is thrilled to announce its sponsorship and active involvement in the esteemed Coinfest Asia 2023!🎊🥳🎊

It is Scheduled for the 24th and 25th of August, Coinfest Asia will set its stage in Bali, Indonesia.

Gate.io Web3 is also hosting an exhibition booth in Converge area to showcase its developmental milestones and leading Web3 ecosystem. 😭😭🤌🤌

Attendees are warmly invited to visit the Gate.io Web3 booth, fostering connections and gaining a more comprehensive understanding of the crypto ecosystem in the process. So cooll🥺 wish i was in bali too😭😭😭

Now, Stay subscribed and ask your Web3 friends too as we will update you on more news as soon as we have some progress 😎

This is what the JOINT #12 had to offer we went from sim swap to Coinfest and we promise to deliver an even better experience next time🤗🤗 so stay subscribed!

Also please do me a favor and share this newsletter with your web3 friends 🫂🫂(secret - this will make sure you make good money in web3 world in the coming future)❤️❤️😭😭😭

Thanks for spending your valuable 5 minutes with us, see you soon in JOINT #13!🫂🫂