#Bitcoin, Crypto expert, ultimate Degen. On chain analyst and hodler. Timestamper for Ivan On Tech aka Gooseman
Joined September 2020
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What happens when the last bitcoin is mined?
21 million max. 20 million already mined. The reward halves every 4 years, so the last million takes until ~2140.
After that, miners earn only fees. Will fees alone keep the network safe? Nobody knows yet. (Not financial advice)
10x leverage: $100 controls $1,000.
Bitcoin +10% → you +100%.
Bitcoin −10% → you −100%, and the exchange liquidates you before you even get there.
Ten times the gains, ten times the losses. (Not financial advice)
Erik Huisman retweeted
Remember.
If Binance absorbs the losses from this hack, as it has committed to doing, the financial damage could largely remain with one company.
That’s fundamentally different from the contagion we saw with Celsius, FTX, BlockFi, 3AC, Gemini Earn, Genesis, Terra LUNA and others.
Those failures spread through interconnected lending, leverage and counterparty exposures.
A company taking the hit itself is very different from passing losses through the entire system.
That’s why the real test isn’t just the size of the hack.
It’s whether Binance can honour all customer liabilities, restore withdrawals and absorb the losses without spreading them to others.
So far, that’s the direction they’re signalling.
But we still need to see the proof, which they have committed to providing.
On the wider geopolitical point.
I always look at the incentives.
The potential incentives for MIC-linked intelligence agencies to conduct or exploit hacks include:
Weakening independent financial infrastructure.
Forcing companies into greater dependence on the FIC.
Creating pressure for increased surveillance, regulation and centralised custody.
Gaining access to financial intelligence and sensitive customer data.
Disrupting financial networks used by geopolitical adversaries.
Creating opportunities for financial assets and infrastructure to be acquired or controlled by FIC institutions.
Binance had already been forced to accept U.S. government-appointed independent compliance monitors as part of its $4.3 billion settlement over money-laundering and sanctions violations.
The settlement included a five-year U.S. Treasury monitorship, giving an independent monitor access to Binance’s books, records, systems, transactions and accounts.
The DOJ also imposed a separate three-year compliance monitorship.
CZ was forced to step down as CEO and later received a presidential pardon.
Israel has also requested that Binance freeze funds connected to Palestinians and others, as part of its financial genocide.
Think about what that means for the sovereignty of a global financial company.
This is how I analyse the increasing subordination of financial infrastructure to the FIC.
None of these incentives proves who carried out this hack.
But I always follow the incentives, not just the headlines.
Oh yeah.
🇮🇱 Every hack is always North Korea. 😂
WHAT THE BINANCE HACK TEACHES YOU
Bitcoin held on an exchange is not Bitcoin you control. It’s a Bitcoin IOU.
Crypto is not the same as Bitcoin. Many tokens are programmable assets issued or controlled by centralised foundations and companies.
Stablecoins are not Bitcoin. They can be frozen for good or bad reasons.
Large crypto exchanges are not FDIC-insured banks. Their crypto balances are not protected by FDIC deposit insurance.
Binance created its own insurance-style emergency fund, SAFU, because it cannot rely on being too big to fail.
Banks, on the other hand, can become too big to fail, socialising losses while privatising gains.
Self-custody comes with different risks.
Social engineering tricks you into taking an action that compromises your keys.
Compromised devices, malicious software and insecure seed phrase generation can expose your Bitcoin without you realising it.
Wrench attacks introduce another risk: physical violence or coercion to force you to surrender your keys.
Self-custody removes counterparty risk, but makes you responsible for managing your own security.
AI is accelerating cyber threats across everything, not just exchanges and crypto.
You have no choice but to get good at security.
It’s the world we’re moving into, and we’re never going back.
Securing your own keys, money, identity and data is becoming one of the most important skills for surviving the future.
Start now if you want to be sovereign.
You have no choice but to take responsibility for your own security.
Oh yeah.
🇮🇱 Every hack is always North Korea. 😂
"Traders say 70%." But what does that actually mean?
Polymarket vs Kalshi, explained for beginners: Yes/No shares, one trade step by step, crypto vs dollars, oracle vs official sources, this week's $2.7M Polymarket hack, and three warnings before you trade.
(Not financial advice)
Erik Huisman retweeted
Suspected North Korea-linked hacks account for nearly 89% of reported crypto hack losses so far this year. In 2021, that share was 15%.
The average reported loss per suspected DPRK-linked hack rose from $50.65M in 2021 to $185.65M in 2026 YTD, about 3.7x larger.
From 2021 through October 29, 2026, suspected DPRK-linked hacks account for $13.24B of the $22.34B in reported losses, about 59%.
The owner of the New York Stock Exchange just bet on Hyperliquid.
So what is Hyperliquid? Here's every service, explained for beginners, from safest to riskiest: spot, earn, staking, vaults, perps and HIP-3 builders.
Rule number one: know your liquidation price. (Not financial advice)
How does Bitcoin turn electricity into security? Miners make about a billion trillion guesses every second. To rewrite a payment you'd have to redo all that work faster than everyone else combined, which costs a fortune, so playing fair pays better. Energy in, security out. (Not financial advice)
Sent bitcoin to the wrong address? There's no cancel button, no bank, no chargeback. Every ~10 minutes a new block seals payments in, and each block stacks on top. Undoing yours means out-building the whole network. Check every character before you hit send. (Not financial advice)
Lost your bitcoin password? There's nobody to call: no company, no help desk, no reset button. A private key is a 78-digit number no computer can guess, so millions of BTC are believed lost forever. Back up your seed phrase. (Not financial advice)
Erik Huisman retweeted
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.
As an immediate precaution, Binance has:
- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.
Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.
Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.
binance.com/en/support/annou…
Ever wondered how bridges between different blockchains operate and where the vulnerabilities are? Check it out here. Some of the biggest hacks in crypto were caused because of flaws in bridges.
A short movie about stablecoins. The different forms are explained and also which questions you should ask before considering getting some yourself.
Ever wondered what a DEX is and how it operates? You're in luck. I've got just the simple explainer for you right here.