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⌐◪-◪ → Punk 5364 just sold for 655 ETH ($1.53M) after a series of suspicious bids. Some think it was a fat-finger trade, while others think it’s a wash trade. Here’s why…

If you look at the transaction history, a bidder placed a series of bids over 3 days, increasing by 0.5 ETH each time: 63, 63.5, 64, 64.5, 65, then suddenly 655 ETH.

In isolation, this looks like a fat-finger mistake, but 655 ETH bid was accepted within 23 minutes, which is pretty suspicious fast considering there are no push notifications for the Punks marketplace.

Additionally, the wallet conveniently had 660 ETH in it after moving 235 ETH yesterday, and the seller had never listed the punk before after being inactive for a year. This is way too coincidental.

I think this must have been a wash trade, what do you think? Let me know in Specs Chat!

⌐◪-◪ → Delegate just rolled out a blockchain-based naming protocol in collaboration with LayerZero. The product is similar to ENS, but designed to work natively across chains.

We currently don’t have a unified identity layer that maintains consistent identity across multiple chains, which will only worsen as we move further into a multi-chain world.

So, Clusters solves a real and growing problem and was created by a trusted team led by the legendary developer Foobar, whose contributions to crypto are undeniable. Foobar has helped keep thousands of people’s JPEGs safe through his protocol Delegate Cash and other famous whitehat moments.

To learn more about Clusters, check out LayerZero’s blog post, and if you want early access, sign up here.

⌐◪-◪ → Ripple co-founder/chairman Chris Larsen’s personal XRP account was just hacked for $112.5M.

Seriously, how the hell can we expect mainstream adoption of self-custody solutions when even the experts are getting REKT?

While I’m a firm believer in the original crypto vision of self-custody and don’t want to give up and let it fade, I’m increasingly convinced most people are simply not responsible enough.

An analogy I like: Just because you CAN own a gun doesn’t mean you SHOULD own a gun. Sure it’s your right (at least in the US it is), but with great power comes great responsibility.

On-chain sleuth ZachXTB published a nice visual of the source address and the various exchanges the hacker is attempting to offload funds through. Fortunately for Chris, this might be a situation where centralization prevails, as the authorities have been notified and frozen funds on respective exchanges.

Anyway, be safe out there everyone, and teach your friends how to self-custody safely.

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