North Korea’s Crypto Heist

Here’s the story not being told… April 18, 2022 [UNSUBSCRIBE]( | [WEBSITE]( [Altucher Confidential] “It’s staggering — bank robbery at the speed of the Internet.” [HERO IMAGE] North Korea’s Crypto Heist By Chris Campbell The “Mother Of All Gold Bull Markets” Is Here Gold is headed much higher. According to Kitco, we’re facing the “mother of all gold bull markets.” And America’s No. 1 Gold Expert reveals how it could soar from $2,000… to $5,000… to $10,000… maybe even to $15,000 and beyond. [Click here now to see how to profit.]( “It’s staggering,” says Ari Redbord, head of legal affairs at blockchain research firm TRM, “bank robbery at the speed of the Internet.” According to the FBI and Treasury Department, North Korean hackers pulled off one of the biggest heists in crypto. Here’s what an FBI representative just said: “Through our investigation we were able to confirm Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $620 million in Ethereum reported on March 29th. The FBI, in coordination with Treasury and other U.S. Government partners will continue to expose and combat the DPRK’s use of illicit activities—including cybercrime and cryptocurrency theft—to generate revenue for the regime." Most mainstream articles are focused on national security issues and what this could mean in the age of cyber warfare. It’s a wildly complicated problem. There’s nothing that the U.S., or any country, could do to stop this attack. Nor will they be able to stop attacks like this in the future. The crypto protocol that was hacked doesn't exist in any one jurisdiction — it’s popular in several countries, most of which are in Southeast Asia. The real solution to these hacks, as usual, is to stop making it so easy for hackers. That’s the story not being told by the mainstream media. Furthermore, where everyone else sees a problem, we see an opportunity. This hack also exposed one of the weakest links — and biggest opportunities — in crypto. One word: bridges. Dear Reader, [Click here for more...]( it’s James. Before you read any further in today’s issue, an urgent situation needs your immediate attention. If you don’t plan on claiming this upgrade to your Altucher’s Investment Network subscription, you’re missing out on a huge opportunity. Right now is your chance to grab one of the biggest (and most valuable) upgrades our company has ever made to a newsletter. I’m taking Altucher’s Investment Network to an entirely new level and I’d hate to see you left behind. [To see how to claim your upgrade, just click here now.]( What Actually Happened Before I get to what a “bridge” is (it’s exactly what it sounds like), here’s some background on the attack. The hackers targeted Axie Infinity, crypto’s first major “Play-to-Earn” game. Axie processes thousands of transactions per day. For that reason, it can’t operate fully on the Ethereum blockchain. So Axie uses a “sidechain” called Ronin, allowing users to access the Ethereum blockchain while bypassing the gas fees. Sidechains are a major innovation in blockchain. Bitcoin’s lightning network is a sidechain. Ethereum has about 100 sidechains. They’re one way to scale the major blockchains. That’s where bridges come in. Imagine two train tracks running in parallel. In order to get a train to move from one track to the other, you need a bridge (or as the railroad guys call it, a switch). Now imagine that for blockchains. Though immensely useful, blockchain bridges are very difficult to make and keep secure. That’s why they’re easy targets for malicious actors. Last month, attackers exploited a weakness in the bridge between Ronin and Ethereum, stealing over $600 million worth of crypto. The Opportunity Bridges are a way to avoid having to use crypto exchanges, whether they are decentralized or centralized. They’re meant as a way to cut out the middleman. But there’s a much better, easier, and more secure way: atomic swaps. [IMG 1] An atomic swap is a type of smart contract that enables two parties to exchange or trade crypto without the need of an intermediary or a bridge. It’s a peer-to-peer way to exchange tokens from different blockchains. And, unlike bridges, no third-party is required to validate the transaction. If you believe that crypto is here to stay, atomic swaps are the solution away from faulty bridges. And they’re perhaps one of the most overlooked opportunities in DeFi. The crypto project that solves this “bridge” problem will see enormous upside. (And only a few are working on it seriously.) Out of respect for our paid subscribers, we can only share so much here in this free e-letter. If you want to receive our latest research on DeFi — and see our top picks — [click here for everything you need to know to get started.]( Until tomorrow, [Chris Campbell] Chris Campbell For Altucher Confidential [Proof] Facebook’s Plan to Take Over $14 Trillion Industry [Click here for more...]( matter how you feel about it, you can’t deny that Facebook has fundamentally changed the world we live in. Now Mark Zuckerberg is changing Facebook’s name and rebranding completely - and I’ve discovered [the key reason behind his SHOCKING decision.]( It’s all because of a new tech breakthrough that will revolutionize how human beings live, work and interact - just like Facebook did nearly 20 years ago. Now, one legendary tech researcher is giving away his #1 way to play it... long before Zuckerberg’s creation goes mainstream. 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