Cubbi

the binance exploit is a pretty brutal reminder that you don't need to steal a private key to drain a wallet $6.3B affected. ~$3B frozen so far. and the technical details are worth a look if you build anything that handles user funds here's what we know: 1. the entry point @binance initially pointed to a compromised devops laptop. attacker reportedly got access to service containers and could submit unauthorized withdrawals binance says there's no evidence of leaked private keys. investigation is still ongoing 2. the @ethereum part is wild the attacker submitted 50 EIP-7702 authorizations targeting a binance hot wallet 49 failed the nonce check. one matched that single valid authorization let the wallet delegate execution to attacker-controlled code. roughly $2.5B was drained from the affected wallet through subsequent transactions and the malicious delegation stayed active for hours 3. the damage control @circle, @tether and other partners moved fast to help freeze around $3B. massive respect for the fast react & response. binance says it'll cover the losses and publish a full technical post-mortem // still wanna know how the attacker got those valid authorizations in the first place. because from a dev perspective, that's the scary bit your contracts can be fine. your keys can be secured. one compromised service/laptop with the wrong permissions can still put billions at risk security isn't just smart contracts. it's the whole system around them wishing @binance and @cz_binance the best getting through this. hope we get a detailed post-mortem so other builders can learn from it stay safu

love when a 3-line fix requires understanding 400 lines of someone else's code especially when that someone is me

a wallet isn't necessarily a person. a swap isn't necessarily demand remember that next time someone posts a chart with 500k active addresses and calls it mass adoption

a token can make your first 1,000 users show up for completely different reasons than you intended some come for the product. some for the chart. some because their friend told them it's going to 10x now imagine trying to make a product decision that keeps all three happy that's one thing i've been thinking about while building lift's tax routes and dividend tools. tokenomics isn't just about where the fees go. it changes who you attract and what those people expect from you and those expectations can get expensive fast

the number of settings a product needs is sometimes just the number of decisions its dev didn't wanna make note it

doesn't mean one chain is better than the other. both have their own strengths and tradeoffs but cmon, you know which stat catches a launchpad dev's eye first lol

the evolution of degens

i can close my laptop. lift can't cause it doesn't take weekends buybacks, burns, payouts. all running on-chain without me or touching a thing last days alone: → $310.73 in fees collected → ~ 200k $LIFT bought back & burned watching the stuff i already built run without me is a different kind of satisfaction back to the code on monday

a $100m fund doesn't create good projects. it reveals them money can buy a small team another year of runway, better devs, or access to real users. but it can't give a product a reason to exist the projects worth backing are already building before there's a grant to apply for @vladtenev hinted at more support for early builders on @RobinhoodCrypto. and if the rumored program proves real, some of those teams could finally get the resources they need hope it goes to people writing code, not 500 new pitch decks written overnight. thoughts?

seeing more and more web3 gaming projects on my tl lately the thesis was never wrong: people grind for tokens anyway. they've been doing it in wow and runescape for 20 years, just without the withdraw button last cycle the games were spreadsheets with a jpeg on top. this time the rails are better - and rh with 3m retail users who already have the app installed is exactly where it gets interesting

week 2 on RH: the trenches didn't just wake up, they got out of bed

reading some lift grant pitches these days. here's what separates the fundable from the forgettable imo - you know who's gonna use it. not "millions of crypto users." tell me who your first 100 users are and why they'd bother showing up - the token actually belongs in the product. if i can remove it from your pitch and nothing changes, you probably don't need one - you've thought past launch day. how do you get people back next week? what are you gonna build when the initial volume dries up? show me you've thought this through and you're serious about building it long-term

watching the pf's rolex thing unfold is pretty funny you can spend months improving your launchpad or just make the entire tl argue about a few watches in one afternoon. can't deny they understand attention still not adding rolex loot boxes to @liftdotfun lol

what do you open on a tuesday when nothing is pumping?

trenches might be the cheapest user acquisition funnel in crypto a guy comes to ape a $20 meme coin. an hour later he's funded a wallet, learned to swap, paid gas and checked out 5 other tokens congrats, your casino just onboarded another user without a single tutorial but getting him onchain doesn't mean he'll stick around that's where the rest of the ecosystem comes in. give him something worth doing beyond chasing the next dog memes bring the traffic. what you build around them decides how much of it stays

me fixin' some bugs

memes bootstrap attention. tech retains it every chain cycle has the same arc: dogs and cats bring the crowd, then the crowd looks around for something to actually use. chains die in that gap the pads that survive are the ones that can serve both: a casino floor AND a listing desk for real ideas that's the whole reason lift has tax routes, dividends, snipe protection. the dog coin и the tech coin launch through the same door

robinhood expansion is going pretty damn well so far been checking out projects launching on lift and talking to builders who wanna launch. ngl, really like seeing more tech and utility coins coming in with actual ideas behind them nothing against dogs, cats or the rest of the zoo. love y'all lol but the meme market is getting a bit overcrowded with those give me a good narrative, some well thought-out utility and a product people actually wanna use, and i think you've got a pretty strong runner on your hands wanna bring a lot more of it to lift near days

the biggest reason i put @liftdotfun on robinhood chain has almost nothing to do with the chain 3m+ mau. ~10m daily tx in september but the part i care about more is what's sitting behind those numbers: robinhood already has users with money, existing habits, and a team that knows how to get retail to pay attention most new chains spend years trying to manufacture distribution from zero. @robinhoodapp doesn't need to teach millions of people what robinhood is. they need to give them onchain products worth using. that's a very different starting point imo the real robinhood chain szn hasn't even started yet. but we're close enough to it