A conservative take on $SPCX
CRAIG retweeted
The largest crypto exchange in the world just experienced the largest robbery in human history—and the person running it is a nomadic autistic man in Dubai posting “Funds are SAFU!”
What a time to be alive.
CRAIG retweeted
ok safe to say binance is pwned
The biggest assets were approximately:
• 1.615B USDT
• 62.6M RLUSD
• 29,934 wBETH
• 11,372 XAUt
• 6.19M UNI
• 198.4M ENA
• 7.175T PEPE
• 27.8M USD1
• 2.26M LINK
• 127,853 AAVE
about $2.5B at the explorer’s prices.
1. The attacker deployed a delegate contract, 0x63e842b0...73e9c6fAe, from the relayer at 15:59 UTC.
2. About four hours later, the relayer submitted an EIP-7702 authorization transaction
That installed the malicious 7702 delegate code on Binance 14.
3. The relayer then made a call to Binance 14, executing the delegate code, and transferring Binance 14’s ETH and token balances.
4. The calldata is labeled sweep(address, address[]). The second argument is a list of recognizable token-contract addresses plus the zero-address (eth).
5. The same relayer later used the same delegate to move 780M USDC from Binance Hot Wallet 34 into the same pool
• The relayer 0x7C... was funded by three Tornado Cash 0.1 ETH withdrawals over the prior two days.
• The same pool also received 28,005.6 ETH from Binance 16 24 seconds after the main sweep.
• The pool then forwarded 195,460 ETH to a fresh, unlabeled EOA
• That EOA has only one transaction and currently holds the 195,460 ETH.
What's a bit unclear is why the relayer was needed in the first place. If they had the private keys to the Binance wallets, they could have just sent the assets out in an atomic bundle without needing a relayer at all.
So it seems likely that they didn't have the private keys and instead just had the 7702 auth signatures, which must have been phished somehow.
I think we can go ahead and assume DPRK.
CRAIG retweeted
Everyday is Zeroday
BREAKING: Binance has been hacked with wallets across the Ethereum, Bitcoin, and TRON networks seeing outflows of -$5.7 billion.
The hack includes $1.45 billion worth of Bitcoin and $875 million worth of ETH.
If confirmed, this would mark the biggest hack in crypto history.
We expect more information shortly.
CRAIG retweeted
ok so looks like the largest crypto hack of all time, here's where we're at:
Stolen:
• ~$5.57B across Ethereum, Bitcoin, and Tron: ~$3.51B ETH, ~$1.44B BTC, ~$630M Tron.
Frozen:
• ~$2.39B in stablecoins: ~$1.567B USDT, ~$823M USDC
• Aave froze V3 and V4 on eth mainnet, precautionary but prevents the attacker from causing bad debt with illicit funds
leaves residual exposure at ~$2.6–$3.2B, beating out Feb 2025's $1.5B Bybit hack for the largest crypto heist of all time.
CRAIG retweeted
S&P Dow Jones Indices and Kalshi are joining forces to build the next generation of financial markets.
The Dow launched in 1896. The S&P 500 in 1957. The idea was simple: bring individual stocks together into a single benchmark, giving people a clearer view of the broader market.
Over time, products built around those benchmarks transformed investing. Index funds, ETFs, futures, and options gave investors ways to gain diversified market exposure and hedge broad market swings.
These indices became foundations of global finance. More than $20 trillion is indexed or benchmarked to the S&P 500 alone.
Today, this structure extends beyond stocks to bonds, commodities, currencies, and more.
The next step is to bring that structure to the events that shape everyone’s lives.
Through this partnership, S&P Dow Jones Indices and Kalshi will work together to create indices composed of Kalshi event contracts.
Think about what that opens up.
An index of political power. An index of supply chain risk. An index tracking AI’s impact on employment. An index of sports outcomes that affect broadcasters, advertisers, cities, and small businesses. An index of weather risks that shape harvests, energy demand, and business revenues.
Each would bundle event contracts into a single indicator, helping people understand how related risks are evolving.
Over time, products built around these indices could offer diversified exposure to those events and new ways to hedge their impact.
The events that shape our lives could become as easy to track and gain exposure to as the S&P 500.
CRAIG retweeted
Saying there’s no reason to buy Bitcoin because anyone can create a cryptocurrency is like saying there’s no reason to learn English because anyone can invent a language.
CRAIG retweeted
Founding to IPO in 8 years. Rs 25,000 CR public market cap. Pioneering approach to manufacturing for the world from India. Going after a truly "Giga" opportunity. Congratulations @acharyaamrit @srinathramki and team @zetwerk on this important milestone! @i_sakshichopra @shaileshlakhani @peakxvpartners
Audacious ambition, backed by years of disciplined execution. Zetwerk's journey from a bold vision to reimagine manufacturing to its public market debut today is an extraordinary one, and one we've been privileged to be part of. 🔔
When Zetwerk started less than a decade ago, the founders set out to fundamentally rethink how manufacturing works. In just eight years, they've built a global manufacturing platform serving some of the most important industries of the future, from precision manufacturing, renewable energy, consumer electronics, to AI infrastructure, aerospace, and defence.
Since first partnering with the team in 2018, we've had the opportunity to support their ambition across both our venture and growth funds as the company expanded into new industries and markets. It's been remarkable to see how far they've come while staying true to the vision they started with.
A huge congratulations to Amrit Acharya (@acharyaamrit), Srinath Ramakkrushnan (@srinathramki) and the entire Zetwerk (@zetwerk) team on today's IPO! We're very proud to have been part of this story and excited for everything still ahead. 👏
economictimes.indiatimes.com…
@i_sakshichopra @Harshal_Kamdar @ArjunS_31
CRAIG retweeted
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/
CRAIG retweeted
🚀 @RajanAnandan believes India will have its first $100 billion venture-funded company by 2030. Today, it doesn't have a single one.
💰 What makes the bet even bolder is the money. Last year, the world poured around $450 billion into startups, and only $12 billion of it came to India. That's less than three cents of every venture dollar, for the world's third-largest startup ecosystem.
🤔 So how does a country lift off on so little fuel? And where will that first $100 billion company come from?
🎙️ Peak XV Partners' Rajan Anandan and veteran investor Saurabh Srivastava, co-authors of 'Lift-Off Nation', join Shereen Bhan on Young Turks Reloaded.
📺 Full episode drops Thursday | 6:30 PM
@ShereenBhan | @TheSaurabhSri
CRAIG retweeted
Excited to welcome @mmurph and @MenloVentures to Factory to support this next phase of growth.
Menlo is investing in @FactoryAI 🚀
Proud to back Factory as they build the system that automates the entire software lifecycle: planning, review, testing, security, documentation, all of it.
Coding has gone from $550M to $30B+ in two years, but generation was only one piece. Factory closes the rest of the loop with a shared, governed, model-agnostic platform.
Excited to partner with @matanSF and @EnoReyes, and to witness their talent and vision firsthand.
More from @mmurph: menlovc.com/perspective/menl…
CRAIG retweeted
David Vélez is the founder of Nubank, a bank with 140 million customers and a market capitalization of $60 billion.
When he started the business in 2013, no one thought it would work, not even his investors. He has faced down regulators, oligopolies, and corruption to build Latin America's largest digital bank. Now he is bringing Nubank to the United States, where he faces his biggest challenge yet.
@gabi_imarques, who grew up four miles from Nubank's headquarters in Brazil, spent time with @velez_david in São Paulo, where the business started, and in Miami, its latest beachhead.
She profiles a man who is no stranger to a fight, having grown up in Medellín, Colombia, when the city was at war with Pablo Escobar. Six-year-old Vélez would pull on layers of sweaters before stepping outside, hoping, as a child might, that the extra padding would cushion any bullets.
colossus.com/article/david-v…
CRAIG retweeted
China saying the quiet part out loud.
We are OFFICIALLY in an AI COLD WAR
GAME ON
🚨EXCLUSIVE: China has now replied to Dario Amodei’s call to slow AI. China's state-backed Global Times says Dario Amodei's proposal to slow frontier AI is really a 'Cold War playbook' targeting China.
It says the plan would curb China's AI development, preserve US dominance and exclude China from global AI governance.
It calls this a 'silent AI Cold War.'
CRAIG retweeted
AI isn’t going away. Barring unprecedented global government coordination, it isn’t even slowing down.
The only real decision is whether to centralize power, or disperse it.
Do you fear the technology? Or a small number of people controlling the technology?
CRAIG retweeted
When we put "loss of control" on the agenda at Bletchley in 2023, I worried it sounded like science fiction. This summer shows it no longer is and, like Dario points out, we may be far closer to that moment than anyone realised.
AI agents are now being used to build the next version of themselves. As I argue in tomorrow's Sunday Times, recursive self-improvement will supercharge the rate and leave us with less and less certainty about what the models are doing and why.
I'm an AI optimist. After all, I'm a senior adviser at Anthropic. We're barely using the capabilities we already have, and none of this need slow adoption. But the decision on how fast frontier research advances is too important to be left to the labs. Governments, starting with the US, have to step up; just as they do for nuclear power or advanced biology.
That means independent verification that the research is being done safely, an honest picture of how close the labs are to recursive self-improvement, and proper protection against models being stolen. Voluntary testing before release was right for 2023. It isn't enough now.
Dario is right to call today for slowing the pace of frontier development so that safety can keep up, and it is good to see a consensus starting to build on this across the industry. When the labs themselves are asking for speed limits, governments should listen.
There's a trade-off with maintaining the advantage over China and it has to be faced honestly. But even as the US and China compete, they urgently need a frank conversation about how to avoid catastrophe.
We Must Pace the Frontier: I’ve written a new essay on why the AI industry should slow down, with a three-part plan for doing so.
Anthropic is unilaterally committing to the first of these steps. We’ll provide third-party evaluators with permanent, employee-level access to our systems, so that they can verify adherence to our safety measures, report on incidents, and assess models’ alignment during training.
You can read the full post here: darioamodei.com/post/we-must…
CRAIG retweeted
Dario is right
We Must Pace the Frontier: I’ve written a new essay on why the AI industry should slow down, with a three-part plan for doing so.
Anthropic is unilaterally committing to the first of these steps. We’ll provide third-party evaluators with permanent, employee-level access to our systems, so that they can verify adherence to our safety measures, report on incidents, and assess models’ alignment during training.
You can read the full post here: darioamodei.com/post/we-must…