THE HASH: Ethereum Bot Attacked for $20M by Validator; Renewed Debate Over Bitcoin NFTs
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 3 April 2023
⏱️ 24 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Monday, April 3, 2023.
"The Hash" tackles today's hot topics: A major Ethereum bot gets attacked by one of the blockchain's validators. Japanese regulators flag four crypto exchanges for operating in the country without proper registrations. Another version of Ordinals emerges, stoking renewed debate over Bitcoin NFTs. Plus, Peter McCormack writes about the return of bitcoin's inflation hedge thesis.
See also:
Ethereum Bot Gets Attacked for $20M as Validator Strikes Back
Crypto Custody Firm BitGo Releases Security Features Aimed at Bitcoin Ordinals
Balaji Srinivasan’s $1M Bitcoin Bet Could Be Right, but I Hope He’s Wrong
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This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
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Transcript
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| 0:00.0 | This is the hash podcast. |
| 0:10.2 | Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more. |
| 0:15.4 | All on the hash for your ears. |
| 0:18.9 | You're listening to the CoinDesk Podcast Network. |
| 0:23.1 | Happy Monday. You're watching The Hash on CoinDesk TV. I'm Will Foxley, joined by Jen |
| 0:28.4 | Sanassie and Ben Chiller, the managing editor for features and opinions on CoinDest.com. Be sure to |
| 0:33.5 | check out his work. But first, we got Jen for a story about Japan and regulatory clarity. |
| 0:38.1 | All right. We are going off to Japan, where the financial services agency has flagged by Bit, Bit |
| 0:44.3 | Forex, MexC, Global, and BitGet via a warning letter. The notice says that the four exchanges are |
| 0:49.9 | in violation of the country's fund settlement laws by conducting crypto asset exchange business |
| 0:54.8 | without registration. Sounds familiar. Separately, the Japanese prime minister is hosting this year's |
| 1:00.4 | G7 summit, which will have a focus on tightening global crypto regulations. Ben, I'm going to |
| 1:06.0 | toss this one off to you. Are you surprised to see this out of Japan this morning? |
| 1:11.3 | Not at all, actually. And Japan is an interesting case of regulation. It's often held up as a country |
| 1:17.1 | that's further ahead than other jurisdictions in regulating crypto and regulating particular |
| 1:22.8 | exchanges, because obviously this goes right back to Mount Cox, which was the first big hack in crypto history. |
| 1:29.3 | At the time, in 2014, roughly, about 70% of Bitcoin was transacted over Mount Gox, |
| 1:35.3 | and then there was a massive failure of that exchange, and that led to regulators in Japan, |
| 1:40.3 | putting together a bunch of regulations that are seen as a template for other countries to adopt |
| 1:45.5 | worldwide, including the US. |
| 1:47.7 | There was another big hack in 2017 coin check, which I think it was the biggest ever. |
| 1:52.0 | So I'm not surprised to see this happening because regulators there are clearly on the case |
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