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Career Postings Reminder
The deadline for the Site Reliability Engineer, C++ Software Engineer, and Sr. Full Stack Developer positions is fast approaching and will all expire on February. Meanwhile, the Blockchain Developer position will expire February 28th. All four positions are hybrid roles based in Vilnius, Lithuania.
To read the full postings or apply, please click the hyperlinks above.
Images
OpenSea Serves as an Example of Why Crypto Security Must Improve
The OpenSea platform suffered a major phishing attack in February 2022, resulting in the theft of over $1.7 million in NFTs from its users. This was not an isolated incident, as the blockchain community lost $3.9 billion to scams in 2022. Despite promises to improve security in the crypto industry, little progress has been made.
For blockchain to achieve widespread adoption, companies must focus on education and better processes to detect fraudulent activity. The OpenSea hack occurred due to users signing an incomplete contract, which allowed hackers to transfer ownership of NFTs without payment through a false contract.
OpenSea has recently reversed some policies and recognizes the need to improve security measures, but the reliance on trust in API developers leaves room for abuse. To secure users, companies must understand how smart contracts work and adopt standard protocols to ensure their resilience against malicious activity. These protocols can then be customized for the company's needs, such as setting up multisignature wallets and conducting regular unit testing. [Source: Cointelegraph]
Orion Protocol Loses $3M of Crypto in Trading Pool Exploit
Orion Protocol, a crypto trading platform, temporarily suspended its operations after a hacker stole millions of dollars worth of cryptocurrency, as reported by cybersecurity company PeckShield. The attack was a reentrancy attack, in which the attacker repeatedly withdrew funds from a smart contract. The attacker deployed a fake token called ATK, which was used to manipulate the Orion pools, through a self-destructing smart contract, according to Gal Sagie, CEO of Hypernative. PeckShield stated in a tweet that they are assisting Orion in fixing the issue, which has now been confirmed as a bug. The protocol has been temporarily paused while the issue is being resolved.
[Source: CoinDesk]
Binance CEO CZ had Tweeted about the attack stating,
"There was a hack in Orion Protocol ($ORN) due to a lack of re-login protection. The loss is ~$3M. Our security team is monitoring the hacker addresses. No Binance users / assets were affected. Stay #SAFU."
South African Grocery Store Pick n Pay to Accept Bitcoin Payments
South African customers can now pay for their goods and services using Bitcoin (BTC) through Pick n Pay, a retailer selling a wide range of products including groceries, clothing, and general merchandise. The payment option is available in 1,628 stores across 39 locations, and customers can also use it to pay for electricity bills, bus tickets, and airplane tickets. To use Bitcoin as payment, customers must scan a QR code through their smartphone app and accept the conversion rate from South African rand. One transaction is estimated to cost about R0.06 ($0.0035), including network fees and exchange rate slippage. [Source: Bitdegree]
US Air Force Invests $30M in Blockchain Technology Through SIMBA Chain
SIMBA Chain, an Indiana-based provider of blockchain solutions, has received a $30 million strategic investment from the US Air Force (USAF) through its STRATFI initiative. The investment, which is larger than previous USAF blockchain initiatives, will be directed towards the development and implementation of blockchain applications for supply chain management in the US Army. The investment demonstrates a growing demand for blockchain technology in the military and is in line with the USAF STRATFI's aim to identify and promote technologies that can secure its future dominance.
The new project with SIMBA Chain will improve asset management in the Department of Defense supply chain, according to Stacy Betlej-Amodeo, the Vice President of Government Operations at SIMBA Chain. She stated that SIMBA is excited to expand its partnership with the DoD and promote blockchain technology across the enterprise. [Source: Bitdegree]
Food For Thought
"Anything that disrupts or erodes your inner peace and serenity, regardless of its perceived value or worth, should be considered too expensive and not worth pursuing."
"Followers will never knows how much time, effort and energy it meltakes from the leader to create a path."
- Shared by Megladon71
"Empowerment looks like: 1. I know what I can and cannot control. 2. I focus on how I respond, not on trying to control how people react. 3. Every day I have opportunity to make new choices. 4. I don’t expect perfection I allow myself to make mistakes."
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Reminders
SafeMoon Orbital Shield
SafeMoon released a technical explanation of their patent-pending security product, SafeMoon Orbital Shield.
Need a slightly more simplified explanation?
SafeMoon Pulse Monthly Recap
Each month, the SafeMoon Pulse offers a comprehensive overview of the previous month, including any updates or changes you may have missed. The latest issue of the SafeMoon Pulse is now available, covering all the important information from the month of December.
The video is below, or if you prefer reading, you can access the Pulse article here.
PoA Article
What is PoA, and what are its advantages?
Learn more by clicking the image below.
