Opinion: Is the Israeli Defense Forces exploiting blockchain technology? Are criminal organizations utilizing ransomware payment methods on the dark web? #rumors
Disclaimer: The author’s views and opinions expressed in this article are solely their own and do not represent the views and opinions of the editorial team at crypto.news.
Welcome to #hearsay, Dorian Batycka’s weekly column of crypto gossip. In this edition, we’ll delve into the dark web cartel, a potential blockchain interface for the Israel Defense Force (IDF), and a humorous fail by an NFT collector.
Every week, crypto.news presents #hashtag hearsay, a column that uncovers the latest scoops and stories shaping the crypto world. If you have any tips, feel free to email Dorian Batycka at [email protected]
You might also like:
Is Vitalik concerned about Solana? What’s the next move for ETH after Dencun? Find out in this week’s #hearsay | Opinion
Question: What if Sam Bankman was actually “fried”?
That thought crossed my mind when I heard about a recent exit scam involving one of the world’s largest darknet vendors of illegal drugs. On March 5, users of the Incognito Marketplace woke up to a message from one of its administrators, known as Pharaoh. The message revealed that Pharaoh was holding the site’s BTC and Monero (XMR), and would be demanding large ransoms from vendors to prevent their data from being leaked online. What’s worse, the “auto-encrypt” button on the darknet marketplace exposed vendors to a data breach. Concerns about the Incognito Marketplace had been circulating the week before when users couldn’t withdraw BTC and Monero from the platform. Online sleuths quickly discovered that it was an “exit scam” with a twist, as the site admin demanded up to $20,000 in crypto from vendors. This exit scam/ransomware attack is one of the largest in recent years and vendors, including those connected to major cartels, are now in a difficult situation. Blackmailing drug dealers and attempting to extort millions of dollars in cryptocurrency seems like a dangerous idea, to say the least. The question remains: Who is Pharaoh? If anyone can uncover his identity, the community’s response would likely be swift.
Is the IDF planning to weaponize blockchain?
The Mamram Alumni Association, consisting of over 8,000 members of the Israel Defense Fund’s Center of Computing and Information Technology Systems unit, recently announced the launch of a “no-nonsense” blockchain incubation program for early-stage blockchain and web3 startups. In a press release shared with crypto.news on March 19, Mamram announced its partnerships with blockchain technology startups StarkWare, Fireblocks, and Collider VC. One of the companies supported by the alumni group, StarkWare, uses zero-knowledge proofs to provide verification resources for various technologies and applications. However, the deployment and funding of “blockchain” and “web3” by top IDF computing minds raises questions. The emerging field of blockchain technology known as “eKYC” focuses on self-sovereign identity management, which could potentially be used for controlling and managing populations and borders. Blockchain technology can prove useful for large centralized lists that require identity and verification checks. In the case of eKYC, it could potentially aid Israel’s efforts to annex Palestinian territories. This effectively weaponizes blockchain as a tool for population control, representing the worst form of centralization.
NFT collector’s flex fails when announcing loan backed by Beeple
Does 1 ETH truly equal 1 ETH? Or does its value depend on the USD backing it? In a peculiar flex/fail moment, digital art collector Pablo Rodriguez Fraile boasted about securing the “largest ever loan against a single piece of digital art” with Beeple’s “Crypto is Bullshit.” Fraile announced that he had received a $400,000 loan facilitated by the NFT lending protocol Gondi. However, his flex was immediately overshadowed by @Anonymoux2311, who technically holds the largest on-chain loan by lending a grail xcopy 1/1 for in 2023. In a comment, user @FeatureFrank criticized Fraile for not being crypto-native enough to understand the difference.
In this week’s what-to-watch
Wagie Wojak receives job advice from Dad.
Until next week, remember to log off and enjoy some time outdoors. Please send any tips to [email protected] or reach out to me on X @temp_projects.
Read more:
Jeff Bezos’s $8.5 billion for buying crypto? 4.5k ETH for an alien punk? Get all the juicy crypto gossip here | Opinion
Follow Us on Google News
