WhiteboardCrypto Newsletter - Jul 13

Welcome back to this week's edition of our WhiteboardCrypto Newsletter!

Not FUD, just caution

Over 120 DeFi websites are at risk of DNS attacks because of a domain migration. The move disabled two-factor authentication, leaving these sites vulnerable. Hackers are redirecting users to fake sites to steal their crypto. This is a reminder to be really careful using DeFi, such as making sure your browser isn’t redirecting you, the URL is correct, not ever putting in a seed phrase, and never signing something you aren’t sure about. Make sure to check the DeFi platform’s X accounts to see if they are vulnerable and if it’s been fixed. Remember, web3 still relies on some old web2 tech, which can be risky.

Learn more here.

Celsius wants user funds back

Celsius is seeking to recover $100 million from users who withdrew funds in the 90 days before the company declared bankruptcy. They argue that these withdrawals gave some users an unfair advantage over others. They are suing folks who withdrew $100,000 or more, and over 1,500 users have already settled. The move has caused concern among affected users, who argue they acted within their rights and are now being unfairly targeted.

Learn more here.

Filecoin goes big on AI

Filecoin is teaming up with Nuklai to decentralize data for training AI models, using its Lighthouse storage service to standardize and store data efficiently​​. Additionally, the Filecoin Foundation is partnering with Theoriq to build smart AI agents​ which will perform tasks like answering questions, conducting advanced searches, and analyzing information with minimal human help.

Learn more here.

UN and Cambodia in on blockchain-based identity

The UN is working with Cambodia to use blockchain tech for digital credentials, making it easier for people to prove their identity and qualifications. This is especially helpful in rural areas where getting official documents can be tough. Blockchain makes these credentials secure and tamper-proof, which means more people can access services like education and healthcare. But, some people are cautious about using blockchain for identity because of privacy concerns. For example, the Worldcoin project faced criticism for how it handled biometric data and privacy issues.

Learn more here.

Thanks for reading and I hope you learned something!

- Theodore