Security & Metamask Chat w/ Tay 🦊

GM Web3 ☀️Recap - Jun 20, 2023Degenz Market Report by @osf_rekt and @rektmandoMarkets are opening lower with the S&P and the Nasdaq down almost 1% after yesterday's market close. Equities are hovering within a similar range that they have been. This is just a quiet time period in between the FOMC and the next major eventsBitcoin dominance went up slightly and almost hit 27k, but it has fallen short. ETH was at 1830 last time we saw Bitcoin at 27k, showing the continued weakness in Ethereum. There has been talk lately of dollar strength in headlines, and the commodities market seeing trades in currencies outside of the dollar.. The dollar makes up something like 70% of bank currencies, so it will take a long time to truly weaken. Mando says it's definitely possible over the course of the next hundred years, not 6 months. NFTsIt feels like the only real thing going on yesterday was Yugalabs FUD. Contributing factors include Gordon leaving, who was a huge community player, especially in regards to morale, and there are a lot of different things going on in their ecosystem, making it difficult to keep up with. As a result, Apes dipped briefly below 40 ETH causing FranklinisBored to fire up the buy machine and start sweepingIf you are an NFT project based in IP, you are just simply not making money right now. The hope of future IP use is seeming to surface as something that might be a reach for most. However, volume in BAYC is still looking healthy…Even as it stands they are pulling in millions annually on royalties. TAY 🦊@tayvano_ who built metamask has built wallets in the space for years with a focus on constantly improving wallet security; She is also a hobbyist on chain sleuth. The atomic wallet hack is the current focus of sleuthing that she is doing with @zachxbt . There is a ton of money moving, and the catalyst for the hack is still unknown even by the atomic wallet. Wallet creation is what led Tay to the on chain sleuthing. If a user had their wallet compromised, Taylor would follow the money and try to get clues to the user and the money's location. An essential to on chain sleuthing is keeping a pulse on the space, especially when funds enter a smart contract. Knowing how things work and how they are ever changing helps to understand the weird things and odd movements seen on etherscan.Tay shared some safety tips for us:1. GET A HARDWARE WALLET! 2. Write down your seed phrase using paper! Don't take a picture, paper is really difficult to hack. Write it down in a few places!3. Do not keep all of your funds in one wallet! In the event of a phishing attack or wallet compromise, you want to have your funds distributed amongst multiple addresses. Siloed funds ensure you do not lose everything via one tragic event!@farokh highlights that many larger accounts have recently been attacked via SIM swaps. Do not set SMS 2FA for your crypto as this is the entry point for this type of attack. GM! Hosted on Acast. See acast.com/privacy for more information.https://linktr.ee/rugradio