DeFi Options, $3.6M Bitcoin Wallet Hack, 3Commas API Leaks, BlackRock $17M Loan To Core Scientific.
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:
Today’s newsletter covers the following:
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.
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.
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.
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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.
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 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.
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.
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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