50M gone, thanks to… a PDF | BinanX News

GM. Take a seat under the blockchain lemon tree: Daily Squeeze offers the latest updates.

🚨 Scams and how to avoid them.

🍋 News drops: Coinbase CEO’s beef with an SEC commissioner, new Binance wallet + more

🍍 Taste of the market today

Daily Crypto Horoscope: ambitious with a side of chaos 🔮 bitcoin It spent the weekend in a tight range of $99k to $100.5k, with the Fear and Greed Index in “Greed” at 78. The big question: are we taking advantage of this rally or just taking a breather?

The CryptoQuant Market think that BTC has already reached a local high. Because? Long-term holders sold almost 828,000 BTC in the last 30 days. If you think MicroStrategy or ETFs are going to save the day, Well… 😬 MicroStrategy added around 150,000 BTC and ETFs bought around 84,000 BTC; these don’t fully make up for what the LTHs threw out.

So who absorbs the pressure? Short-term holders and plenty of retail traders. Retail demand is at annual highs: they tend to buy in strong rallies and abandon if things start to look tough. This means BTC Could See More Turbulence If Retail Starts Panic Selling.

Retail money also goes to memecoinswhich could possibly take some attention away from BTC. For example, it has only been 20 days since Robinhood PEPE is listed, and they already own 2.5% of its offer. To put that into perspective, that’s like $50 billion worth of BTC purchased in less than three weeks.

Meanwhile, Ethereum has its own things going on: it jumped above $4,000 several times over the weekend. Bybit Analysts pointed out that ETH has been outperforming BTC during big events lately (election, ETF announcements, Gary Gensler resignation). With huge ETF flows ($836.8 million last week alone) and There is not much difference between ETH and its all-time high.No wonder people are feeling optimistic.

In fact, Ambition + chaos is not just today’s forecast: it is the core of cryptocurrencies. But hey, the excitement of not knowing what is around the corner. could be part of the magic that makes this industry so special 🪄

🥝 Harvest of memecoins

Who let the memes out? 📢🐕 These dogs are the ones that bark the loudest today:

A memecoin related to the deranged AI Agent in X called Terminal of Truths.

• Baby Doge Coin (BABYDOGE) +33%

Driven by increased demand from futures traders and whales. And let’s not forget Elon Musk’s post, which does not directly mention Baby Doge… but come on, the dots are connecting:

• Amaterasu Omikami (OMIKAMI) +34%

Another memecoin that rides the Shiba Inu wave: this is rumored to be the creation of Ryoshi, who left SHIB and set out to launch a project free of any abuse of power.

• Skibidi Toilet (SKBI) +30%

Based on a meme I’m too old to explain. (Ask Google or your 10-year-old iPad nephew.)

🌑 The crypto twilight zone

Should your coworkers judge you for your bad Monday morning mood? Probably not. But you do need to be aware of this beast that lives somewhere inside you.

The same goes for cryptocurrencies: scams and hacks shouldn’t define everything, but we can’t pretend they don’t exist.

So today we will visit some of the dark corners of cryptocurrencies. You already know, things that anti-crypto people would capture for their “I told you” folder, and the rest of us could learn from it.

1/ Hack Cardano

Cardano’s official X account was hackedpromoting a fake ADAsol token and claiming that Cardano would no longer support ADA due to an “SEC lawsuit.”

Founder Charles Hoskinson confirmed the trick in your personal account… after the token generated $500,000 in trading volume and then crashed by 99% 🫠

Lesson 1: Don’t click on links just because they come from a verified account.

2/ The Radiant Capital trick

In October, Radiant Capital lost $50 million in hack.

It all started with a Telegram message: a developer received what seemed like a direct message from a former contractorsaying that they got something new in the smart contract audit and asking for feedback. I am attaching a compressed PDF. In general, a totally normal practice, nothing suspicious.

Well, they have I discovered it recently that this, in fact, was not normal practice: The person was actually a North Korean hacker, and the PDF was actually malware.

Lesson 2: Certain PDF files can ruin your life in more ways than one.

3/ A high-confidence person encounters low-confidence behavior

An 85-year-old artist received a LinkedIn DM from this friendly art dealer 😃👍 and it was convinced to coin their work in what seemed like OpenSea.

Promise: $300 thousand.

Requirement: $135K fee.

Simply put, the poor guy exhausted his retirement savings, maxed out his credit cards, and took out a loan to pay the fee… You know where this is going.

When he realized he had been scammed, he went through the five stages of grief, one of which was informing the Brooklyn District Attorney’s Office. Although their money could not be recovered, they did. close more than 40 fake NFT marketplace sites.

Lesson 3: protect your elders + if it seems too good to be true, it is.

So yes, if your coworkers survived you today (and vice versa)you can survive the shadows of cryptocurrencies. The key is pretty obvious: don’t trust everything you see, DYOR, double check, triple check, and stay caffeinated.

🍋 News drops

👋 Coinbase CEO Brian Armstrong says SEC Commissioner Caroline Crenshaw is an anti-crypto failure and wants her gone. He posted this rant just before the Senate Banking Committee’s Wednesday vote on whether to keep it through 2029.

👛 Binance launched the new and improved Binance Wallet (RIP Binance Web3 Wallet). First up for the relaunch is the Perfect phase, focused on better asset management, easier airdrops, and a sleeker design.

🐧 Pudgy Penguins surpassed Bored Ape Yacht Club in both market capitalization and minimum price; They are now the second NFT collection after CryptoPunks. Big W to the team, congratulations!

🍌 Juicy memes