A project purportedly linked to former President
Donald Trump has gained plenty of headlines in a fast-changing crypto universe.
That project is dark and controversial — it also intersects with a $2 million
DeFi heist, front-running via notorious ex-pick-up artist. So now we are going
to delve a little darker into what has been unveiled.
Trump
Connection: Fact or Fiction?
Rumours were also swirling that a Trump-backed
cryptocurrency project was in the works. While the first one has clearly not
blessed any certain crypto venture — him simply hinting at it made many
desperate to find out more, or get some sort of confirmation. But from the
point of view either detractors or supporters, probably everyone wonders: What
is happening there?
The $2
Million DeFi Hack:
What is really terrifying about this project to
ME personally (over these other 3000 with rug pulls) was there were also a
$2,000,00 DeFi hack of the same time. It is gaining popularity among people
automatically since DeFi (Decentralized Finance) platforms allow the user to
exchange, lend and borrow without any intermediaries. The problem is, they are
also a hacker's dream.
The most prominent heist was the $2 million
" OPM (Other People's Money) hack" that drained ethers from its smart
contracts after found flaws in them. It has, therefore, already called into
question security procedures of the project and entities responsible for it.
The EX
Pick-Up Artist:
With a splash of added intrigue: The one-time
pick-up artist (PUA) turned crypto entrepreneur. Original Content (Image of
Guy)This is a guy more notorious in the PUA community for his polarizing
techniques and tactics, but has pivoted to being a blockchain advocate. His
involvement with the project has deepened long-running concerns that he does
not know enough about, or is acting in bad faith over, facial recognition.
While going from pick-up artist to cryptocurrency
in one swoop is… reasonably original, there's an obvious connection now that I
think about it (at which point my response would be: cool story bro). Yet, our
dirty past has made us doubt that it could be legitimate.
What This
Means for the Crypto Community:
This project is ALL over crypto twitter because
it might have some kind of link to Trump, the DeFi hack and an ex PUA!
Regardless of the quality or not – this case is a worthy reminder to every
investor that you should first carefully look at who drives these projects when
going for your dollars, especially if controversial figures/countries are
concerned.
It also shows just how early security is in DeFi.
With the increase in space, there has been a rise in cyber-attacks as well.
Developers and project leads must all know the check-list for security on their
part, to make sure that stake of a user remains secure.
Conclusion:
By NOTTEBOHM WIREOct 24, 2020How Trump trounced a
fall guy lawyer in $2 million DeFi hackA washed-up Instagram influencer who
was…medium. Even though we may never know just how complicit Trump was in these
crimes, it remains a sad lesson to us all that if you associate with shady
friends who engage unscrupulous practices of deal-making and influence-peddling
— your reputation will also be guilt-by-association stained. Oh, and we are in
crypto land after all, so this wouldn't be your ordinary-vanilla-DC without
catering to added security or screening needs now would it?
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