This week on Crypto Twitter: Celsius data leak causes fury, Jim Cramer brags about roast

by Arthur · October 9, 2022

this week on crypto twitter — Illustration by Mitchell Preffer for Decrypt

Crypto prices barely moved this week. In the context of 2022, that doesn’t necessarily mean it was a bad week, just slow. Most weeks this year have produced losses. For those who have followed prices closely, this is no surprise. On New Year’s Day, Bitcoin posted an intraday low of $46k; yesterday it bottomed out at close to $19k.

In other words, if 2021 was Bitcoin’s great bull run, then 2022 has been more of a bear run. Investors are feeling more cautious than last year for a number of reasons, but three big factors have been the collapse of Terra back in May – which had profound consequences for the liquidity of several major crypto companies – increased scrutiny from regulators around the world, and a generally cautious global economy.

On Monday, Kim Kardashian was fined 1.26 million dollars after failing to disclose that she was paid $250,000 to publish an Instagram post shilling a token called EthereumMax. United States Securities and Exchange Commission (SEC) Chairman Gary Gensler posted a video on Twitter warning his quarter of a million followers not to buy into crypto purely because of celebrity endorsements.

Today @SECGovwe accused Kim Kardashian of illegally naming a crypto security.

This case is a reminder that when celebrities/influencers endorse investment opps, including crypto-asset securities, it does not mean that these investment products are right for all investors.

— Gary Gensler (@GaryGensler) 3 October 2022

Executioner explained on the day Kardashian ran afoul of SEC regulations when the hashtag she used to notify her followers that the campaign was being paid for did not clarify “the amount she was paid and the nature of it.” The head of the securities regulator has long suggested that the only cryptocurrency he believes does not fall under his jurisdiction is Bitcoin.

As crypto becomes more popular, so does cryptocrime. ROK Capital researcher @Crypto_Mckenna warned people on Monday about crypto crime in Bogota during the conference season.

Heard someone from the Solana eng team got mugged at the airport in Bogota (they were wearing Solana merch lmao).

Think ETH developers should value security for me without bringing crypto stuff at all.

Picking up a new laptop and phone tomorrow. Taking zero chances.

— McKenna (@Crypto_McKenna) 3 October 2022

On Tuesday, crypto gumshoe ZachXBT posted a new megathread showing the results of his investigation into a Twitter hack earlier this year in which a lot of crypto was stolen.

1/ Time for investigation of @beeple Twitter hack that resulted in $450k+ being stolen, where those funds are now, and tracking down the three responsible.

Let’s jump in.

— ZachXBT (@zachxbt) 4 October 2022

Crypto artist Beeple, whose Twitter account was compromised to carry out the scam, was rewarded exploration by rendering him in an exclusive piece of art. Zach seemed humbled his answer.

18/ All my work is possible because of donations, so if you like my investigative threads like this one, please consider donating to my ENS or sharing this thread!

0x9D727911B54C455B0071A7B682FcF4Bc444B5596

zachxbt.eth

Thanks to @beeple to make this sick 1 of 1.

— ZachXBT (@zachxbt) 4 October 2022

That same day, Coinbase CEO Brian Armstrong shilled a new documentary about the exchange’s recent history.

1/ Big announcement: we’ve been working with director Greg Kohs on a documentary about cryptocurrency and Coinbase for the past three years, and it’s coming out this Friday on Amazon Prime/iTunes/YouTube, etc.

Watch the trailer here:

— Brian Armstrong (@brian_armstrong) 4 October 2022

For second week in a rowTerraform Labs CEO Do Kwon played down rumors that he has sourced funds from Terra’s ecosystem.

I don’t understand the motivation behind spreading this lie – muscle staining? But for what purpose?

Once again I don’t even use Kucoin and OkEx, don’t have time to trade, no funds have been frozen.

I don’t know whose funds they have frozen, but good for them, hope they use it for good 🙏

— Do Kwon 🌕 (@stablekwon) 5 October 2022

Crypto reporter Asa Hicken posted a thread on Thursday summarizing the findings of a recent article by him, concluding that the scale of layoffs taking place at crypto exchange Crypto.com is much higher than commonly believed. In addition to a massive reduction in the number of employees, first reported by Decrypt in August the company also drastically reduced its marketing and sponsorship deals.

Last Friday, bankrupt crypto lender Celsius inexplicably leaked thousands of customer names and transactions in a 14,500-page lawsuit. The compromising document has since been taken down, although no explanation has been given for the leak. Many were rightly concerned about such a massive leak.

DeFi developer @0xfoobar even went so far as to warn that the leak could be a prelude to real violence.

Celsius published a 14,000-page document detailing each user’s full name, linked to the timestamp and amount of each deposit/withdrawal/liquidation

This terrible breach of privacy will lead to many being robbed and killed

Anything that is not provably cryptographically private will become public pic.twitter.com/xaLbEeedDe

— foobar (@0xfoobar) 6 October 2022

Solana founder Anatoly Yakovenko believes Solana could conceivably become an Ethereum layer 2 if the NFT party migrates to the network.

If all eth NFTs move to solana, solana becomes an eth L2.

— toly 🇺🇸 (@aeyakovenko) 7 October 2022

Bitcoin maxi David Marcus, who formerly headed PayPal, vented his problems with his former company’s draconian new rules. His tweet ended up catching the attention of Tesla CEO and former PayPal CEO Elon Musk.

CNBC Mad Money host Jim Cramer boasted about his crypto trading skills on Friday.

Several people made fun of him.