Weekly Yields

BTC Developer Hacked For $3.6M. Crypto Weekly Newsletter #033

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DeFi Options, $3.6M Bitcoin Wallet Hack, 3Commas API Leaks, BlackRock $17M Loan To Core Scientific.

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Weekly Yields
Danail Velchovski
January 3, 2023
Jan 3

Happy New Year,

We just released a shortened blog version of our December 2022 Crypto Report that you can read on Medium. Here is a glimpse of what you can find inside:

To download the full 62-page PDF, click here.

Today’s newsletter covers the following:

  • Crypto opens the year in an uptrend
  • Bitcoin core developer loses $3.6M in BTC hack
  • DeFi options are (NOT) the new narrative
  • FBI investigates 3Commas 100,000 API keys leak

Market update

In the last seven days, Bitcoin (BTC) has dropped by -1.27% to $16,717, while Ethereum (ETH) declined by -0.93% to $1,217. Overall, the sideline trend of the top two cryptocurrencies continues, but there has been a slight upward momentum since the start of 2023.

Data from Jan 02, 2023, at 19:15 UTC via Messari.io.

Latest news:

Bitcoin Core Developer Loses $3.6M in BTC Hack

Luke Dashjr, a Bitcoin Core developer, announced on Jan 01, 2023, that an unknown hacker had successfully stolen a significant portion of his Bitcoin holdings.

Although the amount of Bitcoin taken has not been disclosed, Dashjr was able to track a portion of the stolen funds to a wallet containing roughly 217BTC, worth around $3.6M.

Dashjr believes the hack was made possible by compromising his PGP (Pretty Good Privacy) key, and the attacker’s IP address was traced back to a ColoCrossing server.

Three hours later, he confirmed that all funds had been stolen

DeFi Options Are (NOT) the New Narrative, On-Chain Data Suggests

DeFi options are growing in popularity on social media, but are they the new crypto narrative? Research conducted from on-chain data by Twitter user VirtualKenji, suggests no.

While CEX options and social metrics have increased, TVL data show that inflows toward DeFi options protocols stagnate, with top projects still struggling to recover since May 2022.

Still, the biggest bull-case for DeFi options is that demand for DeFi mimics TradFi, and the next financial instrument after Perpetuals (currently at peak demand) are options.

FBI Investigates 3Commas 100,000 API Keys Leak

The FBI is reportedly investigating the 3Commas data breach, following weeks of criticism from Estonia-based crypto trading service users who say its CEO ignored warning signs that user data had been leaked.

This week, an anonymous individual made public 100,000 Binance and KuCoin API keys linked to 3Commas. Two 3Commas users have stated that they were contacted by agents from the FBI’s Cincinnati Field Office regarding the leak.

IMPORTANT: Read how to secure your API keys for trading automation.

Other news

Our research

Read our latest research articles in one click.

Crypto Projects That Won And Lost In 2022
2022 Crypto Year In Review
Web3 Trends To Watch In 2023

One Click Crypto performance

Aggregated return of One Click Crypto vs. BTC and ETH

Last week, Bitcoin lost -1.34%, while Ethereum dropped by -1.29%. The average returns of all 1CC trading strategies produced -0.53% for the same time period.

The average returns for 7 and 30 days, measured on Jan 01 at 23:59 UTC. Source: 1CC Stats

Top trading strategy

Last week, One Click’s top-performing crypto trading strategies were P2 and Horizon at -0.41% and -0.47% average ROI, followed by Clipper at -1.00%.

Top-performing AI strategies between Dec 26 00:00 UTC and Jan 01 23:59 UTC. Source: 1CC Stats

Top-performing market pairs

During Solana’s rally to $11, the Explorer AI trading strategy at One Click Crypto gained +14.51% ROI. The second most profitable bot was Performer v2, with +13.43% in LUNC: BUSD.

The best market pairs for 1CC AI bots between Dec 26 00:00 UTC and Jan 01 23:59 UTC.

Final word

Crypto sentiment remains bearish at the start of the year.

Fear of another black swan, Uncertainty around FTX contagion, and Doubt about CEXs proof-of reserves are several of the leading causes for the current FUD.

True decentralized financial systems remain the solution to both their inferior TradFi versions and the false DeFi system that boomed in the last two years.

Looking forward, we expect 2023 to bring improvements all-around in web3 technology, essentially creating a ground that can finally scale crypto to its full potential.

Max Yampolsky,
CEO at One Click Crypto

This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.

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Danail Velchovski

Danail masterfully combines his deep knowledge of blockchain technology and his strong writing skills to deliver crisp, comprehensive content. With his early immersion in the web3 domain, he navigates the complexities of this revolutionary technology with ease, turning intricate concepts into engaging, digestible pieces. His research acumen and keen insight into the rapidly evolving world of decentralized networks make him an invaluable asset in educating audiences about web3's potential and its ever-evolving landscape.

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