Bored Founders😎 Solana wallets cleaned out (with BFC commentary)
5 min read

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...and ApeCoin in Gucci
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August 5, 2022 | Read Online
r-u-bored
GM! 👋 It’s BoFos News.

We’re so glad you’re interested in the web3. A lot happened during this week.

We feel like a day in web3 is like a month in the real world.

We made it easier for you.

Read this mail,
have some fun,
and keep yourself updated 😉

--

PS. Do you want to hang out? Join our Discord

In today's Bored Founders News:

  • Solana wallets cleaned out - BoFo comment
  • Fun Fact - Bridge
  • Gucci is accepting $ApeCoin
  • Express-News
  • BoFos Corner - Founders NFT update
  • Podcasts recommendations
SOLANA WALLETS CLEANED OUT
(+ BOFO COMMENT)


Have you got some SOL on your wallet?

I bet that your reaction to that info is similar to Joma's. Click the image below to see the video. It's worth spending 17s on that ;)
We asked BoFos about the Solana case.

We’ve got a great description and explanation from
Artur “fullstak” Chmaro (one of the Bored Founders):

What happened?

Artur: According to several tweets, the root of the problem was the error reporting mechanism used by Slope mobile apps (both iOS and Android).


It's a quite common mistake that developers are not filtering out sensitive data from such payloads. Error reports containing private keys and seed phrases went to a centralized server that was most likely compromised at some point.


Many people used the same imported/exported private keys in other popular wallets (like Phantom). That's why it was damn hard to understand at first what the vector of this attack was.

Is Solana blockchain compromised?

No. It's just a matter of issue with the wallet app named Slope.

What to do? How to live with that?
I have just one piece of advice for you on how to avoid such situations in the future. Always hold your tokens in cold wallets without access to the internet. Try not to use the same private key in many wallet apps. Beware which smart contracts you are interacting with.

My funds were stolen. What should I do?

Do not use any private key generated or imported into the Slope wallet. The attacker may have them.

FUN FACT - BRIDGE

Our Fun Facts are not only fun but also practical. We're explaining web3 to make the hard things easy for crypto newbies.

The Bridge is a term often used in web3 technologies. It’s helpful in day-to-day crypto usage.

You know that the web3 world is based on blockchains.

There are many blockchains, e.g., Ethereum and Solana. Layer 2 is a separate blockchain that extends L1. It’s faster and just as secure as L1. An example of L2 for Ethereum L1 is Arbitrum.

For the sake of education, let us assume that L1 and L2 blockchains are separate lands. Every land has its tokens that allow doing operations in the blockchain.

The Bridge is used to pass tokens from one land to another. As a user, you can transfer your tokens from one blockchain to another using the Bridge. By definition - a blockchain bridge is a protocol connecting two blockchains to enable interactions between them.


Do you want to use Arbitrum L2?

Here is an article written by BFC CTO Łukasz “Harry89PL” Charubin about Ethereum - Arbitrum Bridge.


GUCCI IS ACCEPTING $APECOIN

I don’t know if you know Gucci, but you surely know what ApeCoin is.

The cryptocurrency made by BAYC costs right now ~$7.28 per coin.

It’s only in selected Gucci boutiques in the US, but it may spread.

There’s some logic in that move.

Gucci is a prestigious brand.

BAYC holders have got some money.

It could work.

EXPRESS-NEWS


  • Ethereum miners have spent tons of money on hardware. After The Merge, they no longer need to verify transactions. The miners want to fork the network and continue to use it the old way. They call the fork ETH-POW, an acronym for Ethereum Proof-of-Work. Proof-of-Work is a name of consensus algorithm used in blockchain.

  • One of the BTC whales, Michael Saylor, has announced that he will step down as MicroStrategy CEO and remain as Executive Chairman . It occurred after the report of MicroStrategy's quarterly loss of $1.062 billion and a 3% decrease in total revenue.


BOFOs CORNER - FOUNDERS NFT UPDATE

BFC Founders NFT mint started August 2.

BoFos minted 245/500 NFTs already.


We're at ~0.6 ETH Floor Price. (mint price was ~0.15 ETH)

RECOMMENDED PODCAST
(with CoinBase CEO)

Great episode with Brian Armstrong (CEO Coinbase) on Lex Fridman Show.

Brain took a road "from developer to founder". This episode is a mix of my favorite topics. Building startups from scratch and web3/crypto.

Must listen. You'll love it.

=> Watch episode on YouTube
(or listen in your podcast app: Lex Fridman Podcast #307)
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😎 No more news today!

We'll have more for you on next Tuesday.

Subscribe to this newsletter if you don't want to miss next issue.

Thank you, as always, for being with us!

Daniel "tuszcz12" Anuszczyk, Bogusz "bored chief" Pękalski & Artur “ArtiChmaro” Chmaro

PS. Wanna hang with us? Join our Discord
DISCLAIMER:

This newsletter is for educational purposes only. Do your own research.