Web3 hacks reach all time high
94 👉🏻 Mango Markets hacked for $114 Million, Magic Eden cancels creator royalties, Money20/20, Budweiser World Cup NFTs, Web3 Audio
Welcome to the 94th weekly publication showcasing the latest from web3. We hope you enjoyed last week’s issue on Elon Musk buying Twitter. Like what you see and read, share our newsletter with a friend today and help us grow together.
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🥭 Mango Hacked
Another week. Another hack. This time it was Mango Markets a DeFi protocol on the Solana blockchain.
Mango Markets was exploited for $114 million dollars with $67 million of it being returned by exploiter.
Avraham Eisenberg outed himself as exploiter and called it a “highly profitable trading strategy”.
Another hack in a year of way too many hacks brings the total for just October to over $700 million stolen.
TLDR: 2022 is a record year for hacking activity on the blockchain. (not good 😔)
🎨 Magic Eden Controversy
As the competition for NFT market share picks up, so does the controversy. Solana’s top NFT marketplace Magic Eden is no longer forcing traders to pay creator royalties.
TLDR: Magic Eden opts for 0% Creator Royalty Fees. Uproar ensues.
⚽ Budweiser drops scoreboards NFT collection for FIFA World Cup
Celebrate your team, track their scores in real-time and never miss a big moment. Rep your team forever in your digital wallet and enter for a chance to win the Ultimate Grand Prize - the FIFA World Cup™ 360 Experience.
TLDR: The 2022 World Cup starts November 20th in Qatar and NFTs (digital fan authentication on the blockchain will play a role).
💰 Money 20/20
Here comes Money 20/20 at the end of this week. On Sunday October 23rd, the top investing conference returns to Las Vegas with 4 days of innovation, conversation, and networking.
If the 2021 conference which we wrote about with our Top Moments of Money20/20 newsletter was any indication…it’s sure to be an epic event.
TLDR: We plan to pay particular attention to the growth of Web3 in the form of topics, sessions, and brands in attendance.
🎙 Web3 Live Audio
A Web3 Animation SHOWcase: Lucky Ducky Tales
Tuesday 9AM PDT/12 EDT
A Web3 Founders Show. The best and brightest individuals/teams in the Web3 space.
Friday 9AM PDT/12 EDT
This newsletter was written by Michael Rippe and is part of the Spiderw3b Consulting Group: Creating solutions that stick.