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Joined January 2023
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🔒 12,000+ tuned in to hear founders tackle one of Web3’s biggest threats: Security
🎙️ This is xSpaces — real builders, real talk.
✅ Live every Tue + Fri @ 1PM EST
💼 Sponsors & guests: [email protected]
🎧 Listen + follow if you value real Web3 talk.
xSpaces retweeted
Yesterday's hack taught us 3 things:
1. Web3 is nowhere near decentralized
2. That might actually be a good thing
3. EIP-7702 is dangerously flawed
I hate admitting #2
But when funds get drained, someone being able to step in beats nobody being in control 🤷♂️
xSpaces retweeted
🚨 Estimates as high as $3.5B in ongoing @binance hack 🤯
Tether has apparently frozen $971M USDT
Details still coming out now
xSpaces retweeted
Stop refreshing store pages for deals 🛒
I built Deal Scout, a free Grok Bot that hunts for me:
• Pings me at my target price
• Scans Amazon, Walmart, Target, Best Buy, Costco
• Flags price drops on past buys
• Never buys without my OK
Grab it 👇
x.ai/bot/b7s0ryUaULdkN6euilo…
xSpaces retweeted
Has “Dedicated To Crypto Adoption” in bio
Then recommends using a new address for every tx and pitches a paid service
While ignoring the massive flaw regarding outdated token standards and approvals
Good luck with that crypto adoption bro
Learn more about the thesis of optimized crypto security here:
storage.koini.io
xSpaces retweeted
Stop hunting for Grok @bot tips. Let them come to you.
Tip Stack:
• 5 verified tips every Tue + Thu
• Every tip links a real source
• Sunday: ranked templates that fill gaps in YOUR bots
• Never repeats a tip
Free template 👇
x.ai/bot/-rl_NyYKrZVR18fzjni…
xSpaces retweeted
Another founder just told you “good enough” wins
This space started with a promise of real ownership, real security, real decentralization
Now we cheer for whatever ships fastest and call the compromises “pragmatic”
My oh my, how far we have drifted
What @ilblackdragon and NEAR team has built is a pragmatic solution which solves users’ problems “today” and such solutions win the users, technically perfect solutions win larpers (that too for a short time, you can never satisfy them for long)
xSpaces retweeted
"Go f*** yourself"
That's what Elon told the advertisers who walked off X
On stage at the NYT DealBook Summit November 29, 2023
Every media outlet wrote the obituary that week
So how'd that work out? 👇
X's valuation:
🔸 Oct 2022: $44B (what he paid)
🔸 Late 2023: $19B (internal mark)
🔸 Sept 2024: $9.4B (Fidelity's low, down 79%)
🔸 March 2025: $33B equity, $45B with debt (xAI deal)
Six months from a 79% markdown to right back at what he paid
Then February 2026, SpaceX absorbed xAI and X at $250B
The boycott was supposed to empty the platform
🔸 Late 2023: ~541M monthly users
🔸 Today: ~570M monthly users
And the ad cartel that led the boycott?
X sued them in August 2024. GARM shut down two days later 😂
Now the part that really stings
Elon's net worth the day he said it: ~$240B
June 12, 2026: first trillionaire in history, on SpaceX IPO day
Peak: ~$1.45T
Today, even after the post-IPO selloff: ~$907B
Nearly 4x in under three years. Still worth roughly 2.5 Jeff Bezoses
The brands tried to starve him out
He became the richest man in history instead
Somebody check on the brands 😬
xSpaces retweeted
If you run more than 5 Grok Bots, they need a doctor
Mine checks every routine each weekday, only pings me on failures
It also rebuilds bloated bots into upgraded copies so I’m not burning my weekly quota in 2 days
x.ai/bot/dO9rojWVgFL5kjmWYYu…
xSpaces retweeted
Look at the state of crypto security right now:
🔸 X accounts getting hacked
🔸 Devices shipping with implants
🔸 Google promoting scam links
🔸 Wallets drained daily
🔸 Security standards are a joke
How do you look a friend in the eye and tell them to buy crypto?
I can't
xSpaces retweeted
$86M is the newest number on a six-year-old Ledger problem 😬
@SpecterAnalyst traced it
Hundreds of victim wallets across Ethereum, TRON and Bitcoin, funds pooling into addresses he's published
Before anyone runs with "Ledger got hacked," note what that report still calls unconfirmed:
the cause
the number of users
whether Ledger has a vulnerability at all
You can't tell a Ledger wallet from a MetaMask wallet on-chain
Same standard and identical addresses
So the $86M came off the chain and "Ledger" came off X and Reddit, from victims saying so
Two kinds of evidence, stapled into one headline
But the pattern underneath is real, and it's old
2020: an API flaw in Ledger's marketing database leaked 1,075,382 emails and 272,853 order records with names, phone numbers and home addresses
Then dumped free on a hacker forum that December
Then fake replacement devices started arriving at those addresses
Some owners got extortion mail and some even got threatened at home
January this year the order data leaked again through their payment processor
Ledger runs a live page tracking the phishing aimed at its own customers
Fake apps, mailed QR codes, callers posing as support
Six years, and the Secure Element has never been what broke apparently
But the customer list is what keeps leaking and that’s a bigger problem than most will admit
A hardware wallet buyer list is the best target list in crypto
Proof you own enough to buy dedicated hardware and a home address attached
They built a vault nobody can crack, then mailed out the list of who owns one 🤨
There have been a reports on X and Reddit of wallet-draining by Ledger users.
I traced the theft addresses and identified inflows from more hundreds of victim wallets across several major blockchains, including Ethereum, TRON, and Bitcoin.
Total losses $86M+
bc1qjqgwejnp8dc0x2938x9n9954hj97t82unx49dl
TK6DWNpNe1w2iJRNFpU8aHdrPTATxvXT6C
TBkcUMYC7CkTK99tkTnaStQVBastfrs9d9
TCGE3xp6YGRKXxDZiLfysgJW3f22KfMNsW
0x69c8f401cfc6cd40ac94691d6d7c48e3b7a47841
0x033636e45d519bebb7b5c2520ca6ce56fbdb4f7a
0x83aeac166f6832ae3500000a24510a95a052a599
bc1qqnkwurxs99xkx5t4yffqhq3u6qwy0qpjyujtm9
bc1qgqheemzla77pesl227hdtgf5ykz62d0zvld26n
TSDWtuZ2pARUVz4v3PkL2hi3iXPjowAr5a
xSpaces retweeted
The writing has been on the wall for Abstract for years
Just another L2 with horrible UI/UX that no one asked for
If it’s unusable, then you can easily see its future
I just gave up funding an Abstract wallet
Not because I'm lazy
Because even after years in this space, I couldn't be bothered to navigate the maze of ETH versions, L2 bridges, and gas requirements
If I won't do it, your grandma never will
Let me be clear: I'm not some boomer complaining about new tech being hard
I've set up hundreds of wallets. I understand the tech. I literally do this for a living.
But the mental overhead of funding one wallet broke me.
Which ETH? WETH, stETH, rETH, cbETH, wstETH, eETH, weETH... all with different properties and gas behaviors
Some can't be sent to certain addresses. Some get lost in the void if you mess up.
Which L2 do I bridge from? Arbitrum? Optimism? Base? ZkSync? Linea?
Six different bridge experiences. Six different security models. Six ways to lose everything with one wrong click.
And here's the thing ETH maxis will say:
"Just use a chain abstraction layer"
"Account abstraction solves this"
"The UX is improving"
Yeah? Then why did I still give up?
These are band-aids on a broken foundation. Abstraction layers built on top of fragmentation.
You're adding MORE complexity to hide the original complexity
Some will say this is just early internet problems. Email was hard in 1995. TCP/IP was confusing.
Fair point.
But email didn't require risking your life savings to learn. One wrong click didn't drain your bank account.
The stakes are different. The tolerance for friction is lower.
And yeah, other L1s with native assets haven't won either. MultiversX, Algorand, Sui... simple token models but no mass adoption.
So maybe simplicity alone isn't enough
But complexity definitely isn't the answer
Here's what actually bothers me:
We've normalized this dysfunction
We call fragmentation "specialization"
We call complexity "innovation"
We call confusion "decentralization"
Meanwhile every new L2 raises another $100M to add another bridge, another token standard, another layer of abstraction
VCs print money. Devs stay busy. Users stay confused.
And we wonder why adoption stalls
I'm not saying Web3 is doomed. I'm not even saying ETH can't fix this.
But we need to stop pretending this is fine
Stop defending the complexity as a feature
Stop dismissing user frustration as ignorance
Stop building new layers before fixing the foundation
Web3 won't die from lack of innovation
It'll die from pretending 47 steps to fund a wallet is acceptable because "we're early"
We're not early anymore. We're stuck.
xSpaces retweeted
Ripple spent $750M buying back its own equity while XRP holders watched their bags drop 42%
Same company
Same year
Opposite priorities
Here's what actually went down:
March 11, @Ripple launches a $750M tender offer but not for XRP
For private equity shares
Citadel Securities and Fortress affiliates throw in another $500M
Internal valuation jumps from $40B to $50B
If you hold Ripple stock you just got a 25% markup and a liquidity exit
Now flip to the other side
XRP sits at $1.52
Down 42% since the buyback launched
Still 58% off ATH even after last week's 11% bump
And Ripple keeps dumping up to 1B XRP monthly out of escrow
So every single month spot ETFs and retail absorb a billion fresh tokens while the company holding that escrow drops three quarters of a billion dollars on a completely different asset
Best part is watching the XRP Army try to rationalize it 🤦♂️
Buybacks are always for equity
Ripple never promised token holders a cut of private equity
Fine
Then stop selling the two as connected when it suits you
For years the pitch was Ripple winning equals XRP winning
Banks adopt the rails, token goes up, everyone profits
Turns out that was never the case and ain’t happening
But $XRP is going to 10k, right? 🫠
xSpaces retweeted
They made $3M in fees on the Bybit hack
Nobody complained
Now $387M just got stolen from Bitget and suddenly THORChain can't help because decentralization
@bitgetglobal CEO Gracy Chen formally asked THORChain to blacklist the addresses moving stolen funds from her exchange
Her exact words:
"Decentralization is a design principle, not a shield for facilitating known stolen funds. The industry is watching."
@THORChain responded this morning:
"A network halt is an emergency security mechanism… A halt is not a selective freeze of specific funds or an individual swap."
Translation?
There's no button for that
Except we've watched this before
When the Bybit hacker pushed $1.4B through THORChain in 2025, the protocol recorded $2.91B in trading volume off those flows
According to crypto dot news that's roughly $3M in fee income
Nobody called it an emergency 🤨
The "we're just Bitcoin with swaps" defense has a massive hole too
GoPlus Security pointed out Friday that THORChain runs threshold-signature vaults controlled by validators
Users don't hold their own keys but validators do
Bitcoin miners can't touch your coins because they never custody them
THORChain validators already have access
Now here's the steelman, because it's legitimate:
Michael Perklin, security exec backing THORChain, argues node operators only get a binary on/off switch
So there is no per-transaction blocking
That's genuinely the same limitation Bitcoin miners and ETH validators face
That’s definitely fair
But THORChain HAS thrown that switch before
A full month of network halt in May 2026 after a $10.7M exploit hit the protocol itself
So the mechanism exists AND it has been used
Just never for someone else's money…
So the reality is that when THORChain bleeds, it's worth a month of downtime
When $387M from North Korean hackers runs through the pipes, it's a principle worth defending
Same switch just different owner
The fees clear either way
xSpaces retweeted
Largest NFT heist in history
And your “security pros” will just tell you to revoke approvals 🤦♂️
Some of these so-called security pros got drained themselves too
Let them lose everything and then maybe people will wake up
No idea whats going on here but I just watched this wallet drain 3832 NFTs from 100s of different wallets
May be a good idea to revoke all NFT permissions if you have any valuables in your wallet
Seems to be funded from a wallet possibly linked to @0xQuit so maybe a whitehat?
