A few takeaways from the Magic Eden craziness. 1) Man @0xQuit is the hero this industry didn't even know it needed. 2) We are way too trusting of developers who mean well but are unregulated, unprotected by any legal system, and have limited safety rails. It's one of crypto's biggest flaws. 3) This issue in 2 is much worse in the AI age where no mistake goes unpunished. 4) Your WETH and USDC are vulnerable too, not just NFTs. Move your coins to fresh wallets that have never given permission to anything. And move WETH to ETH. 5) Unless you've done a full audit of your wallets recently, you probably have more vulnerabilities than you realize. 6) Most people get hit eventually. So have compassion towards people who get robbed as opposed to yelling about their poor opsec.

🚨BREAKING: US seizes bank accounts tied to a Tether-linked payments firm, FT reports. The firm, Capstone, is accused by the DOJ of illegally moving hundreds of millions of dollars for Tether and Bitfinex through EQIBank, a small Caribbean bank. Capstone allegedly opened US bank accounts while presenting itself as a tech company, then used those accounts to send payments to hundreds of individuals and entities. About $84 MILLION has now been frozen from Capstone accounts at Wells Fargo and JPMorgan. FT reports Capstone was also linked to a separate case where stolen cash from elderly victims was allegedly converted into USDT. Tether and Bitfinex said they were EQIBank customers, but had no knowledge of Capstone’s alleged misconduct. This highlights Tether’s banking access problem, relying on smaller offshore banks and payment middlemen to reach the dollar system.