While I was taking a break from crypto it seems that hackers had no such plans. Last week saw the biggest money heist in crypto so far but that's not the whole story. It took the team 7 whole days to realize that the money is gone and wait 'till you hear the rest...

Record Breaking Exploit On Ronin Network

If you ever wondered why it's a bad idea to build your own network just because you have one popular game that not so many people actually play, last week was a great example. According to Rekt HQ the exploiter walked away with $624M in Ethereum and no one noticed this for a whole week!

Ronin Network was exploited in silence while users are just now learning that the whole network is secured by 9 (NINE) nodes, all owned by the team behind Ronin. I still can't decide if this is funny or sad tbh.

During this same week Voltage Finance got exploited for ~$4M and Inverse Finance lost $15M in various cryptocurrencies.

Exploit leaderboard was updated and now Ronin is the champion until something bigger comes along.

Elizabeth Warren Has a Hard Time Understanding Bitcoin

NBC News interviewed Elizabeth Warren last week and asked her a series of crypto-related questions. If you want to watch the full thin you can do so here and for those of you that want to save some time, here are the best quotes:

If I buy bitcoin, am I buying a share of stock or am I buying a pork belly or am I buying euros? What am I buying?

"Or are you buying air?" responded Warren, calling bitcoin an "ephemeral token" where the value is only tied to other people's perceptions of its worth.

"Instead of bitcoin, we could be talking about digital currency," argued Warren, saying that central bank digital currencies (CBDCs) have "something that backs it up"—the government.

A quick recap of the whole interview can be found here.

No matter how you look at it, the governments will keep pushing for CBDCs and keep putting a bad reputation on Bitcoin as much as possible. Right now we are at a stage where buying BTC is synonymous to buying air. That's a new one...

KAVA Goes Too Far With April Fools Jokes

While desperately trying to stay relevant in the crypto space the KAVA team came up with a brilliant idea. On April 1st they would post an announcement stating that they have partnered with Tesla and KAVA will be used as an L1 network in all Tesla vehicles.

Trading bots went to work and pushed the price upwards almost instantly.

The whole mess resulted in a quick pump and dump while the team deleted the tweet quickly after... Who knew that fake tweets can influence price swings eh?

The 19 Millionth Bitcoin Has Been Mined

We will end this weekly update with some good news coming from the Bitcoin chain. Last week the 19 millionth BTC was mined and people quickly realized that the party is "almost over". Bitcoin is still young but with only 2 million coins left to be mined will interest in mining increase or decrase?

Of course, the mining rewards will keep going down and we will need more and more time to mine the next million but some crypto circles are worried that this could be a problem if the price doesn't keep up with block reward scarcity.

If you have some thoughts on this feel free to share them in the comments below.

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