Replying to @CoinDCX
Withdraw all funds from CoinDCX if you value your assets.
Its co-founders are clowns running a circus.
They publicly and privately denied a theft of its assets occurred meaning they straight up lied or are negligently incompetent.
Later they disclosed the $16M theft and wasted everyone’s time instead of being transparent with the public initially.
Not the first time CoinDCX has done it.
Indian CEXs like CoinDCX, WazirX, BitBNS are all the same.
(I still helped freeze 6 figures for CoinDCX)
so about the $86m ledger drain. everyone’s screaming “ledger got hacked” again. i spent the evening digging and it’s dumber and scarier than that
there’s a shop in malaysia called cryptobilis that sells hardware wallets. ledger has it listed as an official authorized reseller since at least 2022, for malaysia, indonesia and the philippines. legit shop, real devices, years of normal customers
this spring the founders sell it. the deal comes with an NDA: they can’t tell anyone about the sale until october 19
by august the company registry shows one owner with 100%. some guy from heilongjiang, china
the shop keeps running like nothing happened. the site, the name and the “authorized by ledger” badge all stay up
then on oct 8 @MagicalTux posts photos of a ledger he cracked open. hidden under the screen there’s an extra little board with an LTE modem and an eSIM. it just watches the display. you set up your wallet, your 24 words show up, and they get sent out over mobile data. ledger’s genuine check doesn’t catch it because the actual ledger chip is real. his device came from malaysia
xitter.cf/MagicalTux/status/2108…
that post does 120k views
22 hours later someone sweeps everything. 203 BTC hits two addresses in literally one block. ~$58m USDT moves on tron in the same hour. i added up all the wallets: ~$91m
about 7 hours after that ledger says “we’re investigating” and asks cryptobilis to pause sales
cryptobilis is still on ledger’s site as an authorized reseller
to be fair, nobody has officially tied the new owner to the bugged devices yet, and ledger hasn’t confirmed how it happened. but read it as a business plan:
get authorized, sell real stuff for years, quietly sell the company under an NDA, keep the badge, ship devices that phone home, then drain everything the second someone notices
and was ledger even told the shop got sold? nobody’s said so
“authorized reseller” means ledger trusted whoever ran the shop back in 2022. says nothing about who runs it today
bought your hardware wallet anywhere but the manufacturer? open it up today, ledger literally has a guide for that. then move to a fresh seed on a device bought direct
wonder who’s going to answer for this: the chinese frontman from heilongjiang, the shop’s previous owners, or ledger itself
@Ledger clearly needs to keep a much closer eye on who they call official resellers, and take way more responsibility for who sells their devices and how
Ledger is investigating reports of loss of funds from users in South East Asia who purchased products from a reseller named CryptoBillis. As a precaution, and pending the results of our investigation, we have asked CryptoBilis to pause all sales and shipments of Ledger devices. We recommend Ledger users who purchased from this reseller in the last 90 days to not initiate set up if you have not done so yet. If you have set up your Ledger device, consider moving assets to a new Ledger signer (with new seed). We will continue to inform customers of updates as the investigation progresses.
Reach out to Ledger customer support through official channels with any questions: support.ledger.com/
NFT Bear retweeted
issue with being too early in bull markets is pnl watching
if you start trading your pnl instead of making decisions based off price action & your fundamental thesis you always end up taking profits too early
NFT Bear retweeted
you are simply not getting lower prices, we had the worst cross-asset underperformance in crypto's history while stocks went parabolic & bottomed on the worst public industry sentiment in years
OGs waiting for 4 year cycle bottom are going to chase this rally, & crypto starts to look very attractive as a momentum trade for tradfi guys looking to diversify their exposure & but also for LT portfolio allocations as a hedge against the US' fiscal irresponsibility
NFT Bear retweeted
EAT MY KING
just yesterday he walked me through why even though basecat is his best trade so far, he decided to rebuy
today coinbase added it to their roadmap
GENNY RUN
he made +$300,000 in the last 30 days
i remember seeing his tweet of losing it all last year and just speaking it into existence that he’d be back
he’s done that, and is executing at a high level
recording a video of our conversation today! any questions you have for crissy?
NFT Bear retweeted
Machi(@machibigbrother), who has been liquidated nearly 500 times, turned just $152K into $12.72M in only 3 days, making a profit of over $12.5M!
Looks like he doesn't need to sell his Bored Apes to keep his longs going anymore.
hypurrscan.io/address/0x020c…
NFT Bear retweeted
BREAKING: Bitcoin surges over +7% to its highest level since June 2nd as $1.2 billion worth of shorts are liquidated in 60 minutes.
NFT Bear retweeted
the mental warfare traders have to go through every week can definitely be tiresome
you need to stay calm through the highs and the lows
if you dont, you risk losing a lot of money when you’re in either spot
do everything you can to take care of your mind
NFT Bear retweeted
in this era of public wallets
the best way to avoid being farmed is to understand the different types of doxxed wallets
only 3 reasons to track popular wallets:
1. frontrunning future tweets
-if a KOL regularly posts about coins they are in
-front run future demand generated by future tweets
risk: they don't tweet/they sell
2. finding good coins early
-if a wallet regularly buys coins early (before consensus)
-quickly research what they bought
-decide if good or bad
risk: these wallets lose more than they win, the wins are just very big
3. dormant/outlier activity
-if a profitable, inactive wallet buys something
-higher likelihood of ceiling breaking/outlier outcome
risk: they are gambling/have no alpha
for every wallet you track, ask which category they fall into. each has it's own risks. hope this helps.
if you're a good trader on-chain you're going to accumulate copy traders, whether that wallet is publicly attached to someone or not, the reason ppl pay for tools like nansen is because of how transparent trading on-chain is
arguing that the best traders on-chain have to change how they trade because they are getting copy traded doesn't make sense
























