The post How to monetize your NFTs first appeared on The Shib Magazine.
]]>Hey, Shib Army!
We know your reading will not be complete without these highlights of the week, so we’ve added extra nuggets for your enjoyment. We’re always thrilled to see you sharing and tweeting about these little “treats”. Keep sharing and spreading the good vibes!
1. Welcoming Tangem, the Leader of Cold Wallet Solutions
Members of the Shib Army flocked to Tangem’s X account after it announced that it has begun integrating Shibarium. This is a major step in digital asset management, offering faster transactions, enhanced security, and greater scalability for Shibarium. And this, frens, is what we call a strategic move.
2. Wen $KNINE? Soon!
There’s going to be a launch party over at K9 Finance, and we’re here for it. K9 Finance DAO founder Buzz.Shib has announced that the $KNINE token will launch on March 7. It’s coming to Ethereum as an ERC-20 token, which can be staked to earn $BONE. So, after “Wen $KNINE” naturally comes “Wen bridge?”
3. Bad Flea Circus Makes Epic Cartwheels on Day 1
Bad Flea Circus is taking the “LFG” mantra to the next level, with their stealth launch of $SKULLZ reaching a $48k mcap, an amazing airdrop to ShibaPunkz OGs and Bonewhale VIPs, getting listed on Mantra and NestX, racking up 120 holders, and so much more in such a short period of time. They also had the second biggest secondary sale of the day with 250 $BONE on Mantra. And that’s just day one for this hybrid NFT-token!
#Shibarium what an epic day! Was very hard to keep up with the X account today! Here’s a summary of DAY 1 accomplishments!
Stealth launched from $1k mcap to around $58k mcap at peak, and settled at around $48k (+4800%)!
—
Bad Flea Circus (@BadFleaCircus) February 25, 2024
4. Under 30 Seconds: The Sharbi Bridge Promise
The $SHARBI Bridge has arrived at fetch.sharbi.net, and you can now bridge your beloved $BONE and $SHARBI to Shibarium in less than 30 seconds. Every transaction also burns SHIB and SHARBI. Learn how to bridge $BONE from Ethereum to Shibarium, and check out the FAQs to stay informed.
5. Crank the 
Engine – Marswap Has a New Look
Marswap has revealed its revamped user interface with a plethora of exciting features. Show us a DEX that just keeps building while helping to launch new projects and offers flat-fee trading. All the votes go to Marswap! Get ready to swap on Mars for an improved trading experience.
6. ShiBulls Is Bullish on Staking Rewards
The ShiBulls staking platform is live, and it offers a unique rewards system. Count the traits of your NFTs and check out what kind of boosts they can get. Owning ShiBulls and staking just got so much better. If we’re not mistaken, this is a first on Shibarium… so keep staking, degens!
7. CoinMarketCap and CoinGecko List Shibarium
Shibarium has recently integrated with CoinMarketCap and CoinGecko, and the Shib Army has welcomed them to the party. This means more exposure and recognition – well-deserved at that – for Shibarium and the projects building on it. So, Shib Army, keep making noise on those other places where Shibarium needs to set foot in. Woof!
The post How to monetize your NFTs first appeared on The Shib Magazine.
]]>The post How to monetize your NFTs first appeared on The Shib Magazine.
]]>Hello, world! My name is @typosphere_ and my friends in Web3 call me typo. My nickname actually comes from typography, the graphic element. I’m a graphic designer and I used to design type letters. Even though I’m a 2D character animator now, the seeds are coming from my typography times. I started to animate my typefaces, and then it evolved into character animation.
Today, I want to talk about NFTs and IP (Intellectual Property) rights connected to them.
Today, the question communities ask devs is “Wen IP?” Having proof on the blockchain that you own an NFT is not everything you need anymore. If you can’t use your NFT however you like, then just owning an NFT is not much of a utility. It’s mostly because the SEC says, “If your asset brings passive income, then it’s a security.” And as a project owner, if your NFTs are a security, then you have a big problem – you have to deal with SEC and its regulations!
Therefore, all NFT projects must pivot according to this fact and reorganize the utilities they promised. So, instead of passive income, “royalties” is the buzzword now. One way to earn from your IPs is you rent out your NFT to the project owners under some circumstances and you get paid for the usage a.k.a. royalties.
Another advantage of renting out your NFT to the project itself is helping to make your NFT famous! While you are getting paid for your NFT to be used, your NFT is also getting more eyes on it. So it’s a win-win situation. Of course, for this “fame” thing to work out, the project itself should be legit.
There are numerous ways to use your NFT’s IP rights. I want to mention some of them.
Rarity is not the most important feature your NFT has anymore. Yes, it’s an advantage IF your NFT is significantly different from the others but if you don’t do anything and just sit on it, the value will not rise. And if your NFT has a lower rank, it’s not the end of the world. These are just numbers now because as your NFT is to be seen by more eyes, the value will rise in time. Let me elaborate on this.
All art forms are about telling a story. NFTs are no different so their story is either determined by the devs, the community, or by both. Let me tell you this: if your NFT doesn’t have a story, it will vanish in no time. People are looking for stories similar to theirs, to connect with the character. Just having a specific trait is not enough anymore.
You can create a story for your NFT. You can even make a collective story with your frens from that community. Then you can create (or hire someone to create) a comic book out of that story. You can use this story as content for your audience on social media and attract new members to the project who will likely want to buy one of the characters in the story.
You can also sell this comic book on Amazon. Or you can ask for help from the devs to distribute that book. It’s also an advertisement for the project. So again, it’s a win-win.
Let’s say your NFT is not rare at all. Within the story, you can make your character a hero or someone interesting. It’s all up to you! This way you can make your NFT desirable and therefore valuable. And when it’s publicly confirmed that it’s desirable, then you can make a profit by creating merch such as t-shirts, keychains, or even a brand just based on your NFT!
Making GIFs from an NFT collection/project is another marketing tool now, and I think it’s brilliant. GIFs can be used on any social media platform and it connects Web2 people to Web3. You send that cute character saying hello to your girlfriend and she sends it to her parents. Her father shares it with his colleagues… You got the idea. It’s another way to make your character famous and have content to share with your audience.
And that’s where I come into play. I can create GIFs with your NFT characters for Giphy or Tenor. I can do that for individuals or projects. I can create short stories and give life to your character according to their persona. Or we can create the story/persona together. Most of the time, people tend to give me a “keyword” and I take care of the rest.
To connect with the author, you can send him a DM on his X page.
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]]>The post Love in time of OnlyFans first appeared on The Shib Magazine.
]]>This is the brave new world.
Gone are the days when the biggest worry was whether your date was going to ghost you. Now, we’re navigating a world with OnlyFans, whose emergence has introduced a novel dynamic into the dating scene, redefining the boundaries of online intimacy and posing unique challenges and opportunities for those seeking romantic connections.
In this special Valentine’s Day edition, The Shib explores the provocative realm of OnlyFans and shares insights from a relationship coach on how to adapt your search for love in a world that has been changed forever.
Digital Intimacy Redefined
OnlyFans, a platform known for monetizing intimate content, has blurred the lines between personal connections and transactional relationships. Relationship coach Abel Keogh says this has set unrealistic standards for physical appearance, lifestyle, and relationship dynamics, leading to confusion and mistrust among those seeking deep and meaningful connections. Intimacy commodification not only complicates dating but also impacts long-term relationships, potentially undermining the foundation of trust and mutual respect.
Keogh, who has authored four relationship guides and two memoirs about overcoming loss and moving forward, emphasizes the critical role of open and honest communication in addressing the challenges posed by OnlyFans and similar platforms.
His advice is to “be upfront about personal values, boundaries, and non-negotiables within the relationship, including participation in or consumption of pornography,” which is a “common mistake” among couples who “fear the relationship will end once that happens.”
“Ultimately, such behavior, which involves hiding one’s standards and not enforcing them, hurts both parties by prolonging a relationship that is not going anywhere in the long run,” Keogh points out. “It is also essential to respect each other’s choices and boundaries, even if they lead to difficult decisions regarding the relationship. If participation in or consumption of OnlyFans content is indeed a dealbreaker for one partner, it is crucial to acknowledge and honor that boundary, even if it means ending the relationship.”
The societal perceptions and stigmas surrounding platforms like OnlyFans complicate the dating dynamic. But he recommends confronting and addressing the stigma head-on, fostering an environment of mutual respect and consent.
“Participation in or consumption of sites like OnlyFans harms, damages, and ultimately destroys relationships. I’ve talked with many broken-hearted men and women whose self-image and confidence are shattered once they discover their partners’ use of such sites behind their backs. This leads to trust issues and makes them more hesitant to date because of their experiences. People don’t want to get burned twice.
“You are not doing yourself or your date any favors by hiding something that will eventually come to light. By concealing your activity or involvement, you’re indicating to your date that you don’t respect them or their values,” he warns.
There is nothing wrong with walking away from a relationship where you’re not treated like number one.
Relationship Tips
Keogh, who has been happily married for two decades, has some important advice about dating and forging strong relationships:
- Be upfront about your involvement in such sites and respect your date if that is a dealbreaker for them.
- Secrets hurt and ultimately destroy relationships.
- Know your intrinsic value and worth.
- If your date participates in or consumes OnlyFans content, it’s not a reflection on you.
Self-awareness and self-respect are key to navigating a world influenced by OnlyFans. Keogh urges individuals to recognize their worth and not to settle for relationships where they feel undervalued or disrespected. The importance of finding a partner who is willing to commit fully, without the interference of virtual or physical third parties, cannot be overstated.
But it is also important that you are ready to enforce your own red lines. “You deserve to be with someone who can give you his or her entire heart and not share intimate parts of themselves with strangers online. There is nothing wrong with walking away from a relationship where you’re not treated like number one,” Keogh says.
A Creator’s Trauma
The evolving dynamics of finding love in this new era can not only be challenging for users but also emotionally daunting for creators. OnlyFans model and TikTok user @kimchiprincesa has provided a candid glimpse into the less-discussed emotional and psychological challenges faced by creators. She talks of the mental toll her work has taken, emphasizing a significant decline in her emotional and mental health. Her reflections offer a poignant counter-narrative to the often glamorized perception of content creation, highlighting the complex realities behind the facade of financial success on OnlyFans and similar platforms.
Watch her video here: https://www.tiktok.com/@kimchiprincesa/video/7259517335936011562
“I’m trying so hard not to get super upset while sharing this, but if I’m being honest, my mental health since I’ve started this has just slowly, like, been on such a decline,” the OnlyFans model admits, adding, “But if I’m being so honest, that really is like, the only upside to doing it. Just the ability to very quickly make extra cash.”
‘One of Two Hearts’
Many individuals gravitate toward OnlyFans expecting to find emotional satisfaction and enrichment in their personal lives. But the platform often complicates the emotional dynamics, leading to nasty surprises and even shattered lives.
This disruption stems from a complex interplay between digital intimacy and personal expectations, challenging the traditional pathways to emotional fulfillment. Adapting to the intricacies of modern love involves combining respect, communication, and empathy with an appreciation for the nuances of digital interaction.
As Keogh puts it, “Know what you want in a future partner and don’t compromise on the big issues. You deserve to have someone who can give you his or her entire soul. You shouldn’t have to share your partner with others physically or virtually. Ultimately, if a relationship is going to succeed, it needs to be one of two hearts. This cannot happen if one or both of you are participating in sites like OnlyFans.”
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]]>The post 6 Best Tools for Crypto Traders first appeared on The Shib Magazine.
]]>Welcome to thе complеx world of cryptocurrеncy trading, whеrе еvеry coin flip could bе a plot twist, and thе only thing guarantееd is thе lack of guarantееs! 
But fеar not – wе havе a trеasurе trovе of tools to navigatе this crypto junglе!
Here are some that are worth looking into:
1. CoinMarkеtCap: The Galactic Commander of Crypto Stats
Ever wish you had a cosmic dashboard showing you the ins and outs of every crypto in the universe? Well, enter CoinMarketCap! It’s not just a resource; it’s a crypto circus filled with real-time price updates, historical data, market capitalization, trading volume, and information about the circulating supply of almost every cryptocurrency in the market.
You can practically feel the heartbeat of the crypto world with just a click. Explore rankings, dive into data, and discover the secrets of each coin. It’s not a trading platform; consider it your crypto sidekick, providing all the deets you need.
And guess what? You can even choose your favorite crypto category – it’s like picking your favorite act in the circus tent!
2. TradingViеw: Where Charts Turn into Masterpieces
Step into the art studio of crypto charts – welcome to TradingView, where prices become masterpieces and analysts turn into artists! This platform is not your average art gallery; it’s a web-based canvas where charts dance and prices groove. There is no need to download; just hop on the web and let the charting party begin!
With various chart types, indicators, and drawing tools, you’re not just analyzing prices but creating a crypto symphony. Traders can use it to analyze price trends and patterns to make informed trading decisions. And the best part? It’s not a solo act; you can share your brilliance and learn from the maestros of the crypto world. It offers various chart types, indicators, and drawing tools. The platform also has a social component, allowing users to share their analysis and learn from others.
3. CryptoComparе: Unleash the Data Dragon
Unleash the data dragon with CryptoCompare, the superhero of real-time, high-quality market data! It’s not just a platform; it’s a data-packed adventure where portfolios become treasure maps. It provides a portfolio tool to track crypto holdings, and its research section provides various tools and information sources for traders. The tool aggregates and analyzes tick data from globally-recognized exchanges and integrates different datasets in the cryptocurrency price.
For data connoisseurs, it also offers an API with broad, rich datasets and exceptional quality.
4. Coinigy: The Cloud Commander of Crypto Trading
Imagine a cloud where over 40 exchanges gather to throw a crypto party – that’s Coinigy for you! It’s the superhero of trading platforms, consolidating orders, charts, and data from multiple exchanges, making it easier to manage trades and monitor portfolios.
The tool allows you to connect their exchanges and wallets to completely transform the way you invest in crypto. You can automate a trading strategy, track performance, and analyze the market with unique features customized just for you. Coinigy transforms your crypto journey into a saga of triumph!
5. Shrimpy: The Portfolio Maestro
Dive into the ocean of portfolio possibilities with Shrimpy, the maestro of diversification, rebalancing, and indexing! It’s not just a tool; it’s a symphony conductor for your crypto investments. Backtest your strategies, connect exchanges, and let Shrimpy transform your investment game.
It offers backtesting features, allowing traders to test their strategies with historical data to see how they would have performed. The platform enables users to link their exchanges and wallets, revolutionizing their approach to crypto investments.
6. CoinChеckup: The Crypto Explorer’s Dream
Embark on a crypto adventure with CoinCheckup, your passport to coin analysis, investment stats, predictions, and news! It’s not just a platform; it’s a dreamland for traders who crave thorough research before making investment decisions. Prices, charts, market cap… CoinCheckup provides the roadmap through the crypto wilderness. It’s not just about checking; it’s about exploring, discovering, and conquering the crypto kingdom.
Remember, while these tools can provide valuable insights and streamline the trading process, they do not guarantee profits. Always DYOR and consider your financial situation before making trading decisions. Happy trading!
Crypto Titans in Crisis: The Rise and Fall of 5 High-Flying Figures
Five of the biggest players in crypto who went from hero to zero
In the cryptocurrency world, the past two years have seen some of its most powerful figures hit the headlines for all the wrong reasons. From Binance’s high-flying CEO Changpeng “CZ” Zhao facing money laundеring charges to thе fall from grace of FTX founder Sam Bankman-Fried, and the dramatic unraveling of Terraform Labs co-founder Do Kwon’s empire, cryptocurrency’s elites are in the midst of a chaotic storm.
Let’s take a look at thе ups and downs of these crypto tycoons, exploring the glamor, controversy, and legal troubles that have reshaped the narrative of this notoriously volatile industry.
1. Changpeng “CZ” Zhao: The Meteoric Rise and Sudden Fall
Changpeng “CZ” Zhao, once the undisputed king of thе crypto world, catapulted Binance to unprecedented heights. With a net worth peaking at $65 billion, he was the face of crypto prospеrity. However, with great power came greatеr scrutiny.
Accused by the U.S. of allowing transactions to militant groups and violating multiple regulations, Zhao pleadеd guilty, stepping down from Binance amidst fines totaling $4.4 billion. His empire now stands on shaky ground, leaving us to wonder about the fate of thе man who once ruled the crypto universe.
2. Sam Bankman-Fried: From the Face of Fame to a Notorious Collapse
Sam Bankman-Fried, the charismatic founder of FTX, was not just thе richest but also the most famous figure in crypto. With a net worth of $24 billion, he was the unofficial ambassador for the industry. However, revelations of financial misuse – from real estate splurges to risky moves – brought his empire crashing down in November 2022.
Rival CZ Zhao’s decision to sell FTX tokens held by Binance sparked a stunning collapse. Arrested in the Bahamas and found guilty of major financial fraud, Bankman-Fried now faces the prospect of up to 110 years in prison. From fame to infamy, his story is a cautionary tale of the perils of crypto stardom.
3. Do Kwon: Marketing Genius Turned Fugitive
Do Kwon, the South Korean entrepreneur bеhind Terraform Labs, marketed TerraUSD and Luna as the next big thing in crypto. Described as a “genius,” he attracted billions in investments. However, the collapse of these stablеeoins in May last year, deemed by some as a glorified Ponzi scheme, triggered a chain reaction of losses totaling over $500 billion.
Brash and outspoken, Kwon went on the run after leaving South Korea, eventually getting arrested in Montenegro with fake travel documents. Now facing criminal charges in the U.S. and South Korea, Kwon’s story is a gripping tale of a marketing whiz turned fugitive, leaving a trail of financial destruction in its wake.
4. Bitboy: The Dramatic Downfall of a Prominent Crypto Youtuber
Ben Armstrong, the popular crypto influencer known as Bitboy Crypto and founder of the Bitboy Crypto YouTube channel, witnessed a climactic rise in the cryptocurrency community, leveraging his engaging content to amass a substantial following. However, his ascent was accompanied by controversies, as he faced accusations of promoting tokens for personal gain.
The tide turned against him amid regulatory scrutiny, market downturns, and shifting sentiments, leading to a decline in both influence and viewership. Bitboy Crypto’s journey serves as a cautionary tale, emphasizing the challenges and risks associated with navigating the volatile crypto landscape and the importance of ethical conduct in the face of evolving industry dynamics.
5. Winklevoss Twins: A Series of Lawsuits and Losses
The Winklevoss Twins, Cameron and Tyler, are known for their work on Gemini, the cryptocurrency exchange they founded. But they are probably more popular for suing Mark Zuckerberg in 2004 after claiming he stole their social network idea to create Facebook, now known as Meta. This led to a $65 million settlement, after which the twins became billionaires due to their crypto investments. But that didn’t come without challenges. In 2023, Gemini faced a loss of $900 million, and the twins had to pivot their strategies.
Crypto lender Genesis Global initiated legal action against Gemini Trust, aiming to reclaim over $689 million. This substantial sum represents funds withdrawn by customers during a tumultuous “run on the bank,” ultimately leading to Genesis’ bankruptcy.
The twins were also recently under fire after it was revealed that they allegedly withdrew $282 million secretly in 2022 from the customer funds of the exchange’s Earn program “to create a liquidity reserve,” leading to backlash from customers.
What can we say? These narratives serve as cautionary tales, reminding us that even the most powerful figures are not immune to the chaotic forces that govern this ever-evolving industry. So, always take people’s words with a grain of salt. Stay vigilant at all times, Shib Army!
The post 6 Best Tools for Crypto Traders first appeared on The Shib Magazine.
]]>The post Crypto Survival Guide first appeared on The Shib Magazine.
]]>Welcome to the exciting yet precarious world of cryptocurrency, where fortunes can be made or lost in an instant. As digital assets captivate the interest of investors worldwide, they also catch the eye of deceitful scammers who prey on the unwary. Worry not as we unveil the quintessential guide to safeguarding your crypto assets, helping you navigate the treacherous waters of the digital frontier.
1. DO YOUR HOMEWORK.
Before diving into any cryptocurrency, DYOR (aka do your own research). Understand the project, its purpose, the team behind it, and what the community is saying. Knowledge is your best defense against scams.
Here’s a resource guide from our friend @mark_murdock3:
2. STICK TO OFFICIAL SOURCES.
Always verify the URLs of “official” websites and social media channels. Be cautious of random messages or emails offering investment advice. Scammers often pose as trustworthy sources to trick investors. Never send your private information (seed phrase. private key, password…) to support services or influencers.
3. KEEP YOUR ASSETS SAFE.
Use a cold wallet to store your assets and NFTs and a hot wallet that will be used to interact with various dApps and websites. Never mix those so you can protect your assets from all kinds of attacks.
4. DON’T FALL FOR HYPE.
If an investment opportunity sounds too amazing and too easy, it’s likely a trap. Avoid investments that promise guaranteed profits overnight. Scammers often create a sense of urgency to rush you into a decision.
5. TRUST YOUR GUT.
If something feels off, it probably is. Listen to your instincts and take your time with decisions. Talk to experienced investors or financial advisors if you’re unsure. Being cautious and patient can save you from falling into a scam.
As you strap on your virtual helmet and set sail into the thrilling cryptocurrency universe, keep in mind that your trusty companions on this adventure are none other than diligence and caution.
Stay one step ahead of scammers by following Shibarmy Scam Alerts on X for real-time updates on crypto scams so you can make vigilant and informed decisions.
The post Crypto Survival Guide first appeared on The Shib Magazine.
]]>The post Top 5 Prompts for ChatGPT first appeared on The Shib Magazine.
]]>How to Write a Good ChatGPT Prompt
Here are some general guidelines on how to write a good ChatGPT prompt:
- Give as much context as possible: The more you explain the details and goals of what you want ChatGPT to do, the more accurate and helpful your answer will be. For example, if you need ChatGPT to write an email for you, you should provide information such as the recipient’s name, the purpose of the email, the tone of voice, and any other relevant details.
- Avoid loaded or vague language: ChatGPT works best with objective and clear inputs, so try to be neutral and specific. Avoid using subjective or ambiguous words or phrases that could confuse or bias the model. For example, instead of asking “What is the best way to do X?”, ask “What are some possible ways to do X?” or “How can I do X effectively?”
- Be specific: Ensuring you specify a response word count, desired format, style, level of detail, and language will decrease the likelihood of getting an unsatisfactory answer. For example, if you want ChatGPT to write a blog post for you, you should indicate how long it should be, what topic it should cover, what tone it should have, and what language it should use.
- Use examples: Providing examples of what kind of response you expect can help ChatGPT understand your prompt better and generate a similar output. For example, if you want ChatGPT to write a catchy slogan for your product, you can give some examples of slogans you like or dislike.
Here are Our Top 5 Examples of ChatGPT Prompts
1. Marketing Marvels
Start a conversation with ChatGPT by saying:
“Help me brainstorm a creative marketing campaign for my [product/service].”
Watch as it conjures innovative strategies, catchy slogans, and even a rough social media calendar to ensure your brand stands out.
Pro Tip: Be sure to specify your target audience, budget, and preferred marketing channels for more tailored results.
2. Jet-Set with Ease
Planning a getaway or a business trip? ChatGPT is your virtual travel agent. Begin with:
“Assist me in planning a memorable trip to [destination].”
You’ll receive travel itineraries, accommodation recommendations, and even local hotspots to explore. ChatGPT can also help you navigate visa requirements and give you weather updates for the perfect packing list.
Pro Tip: Provide your travel dates, budget, and specific interests to get customized recommendations.
3. Business Blueprinting
Ready to turn that brilliant idea into a full-fledged business? Start by saying:
“Help me create a business plan for my [type of business].”
ChatGPT will walk you through the essential components, from market research to financial projections, all while offering valuable insights and tips.
Pro Tip: Include specific industry details and target audience information to get a comprehensive business plan.
4. Job Interview Jedi
Nailing a job interview is half the battle won. To prepare effectively, initiate the conversation with:
“Simulate a job interview for the role of [job title].”
ChatGPT will take on the role of the interviewer and pose common questions.
Pro Tip: Provide details about the job description and any specific concerns you have about the interview.
5. Masters of Communication
Sending the perfect email can be a daunting task, but not with ChatGPT by your side. Start with:
“Help me draft a compelling email to [recipient].”
You can tailor the email for various purposes, whether it’s a professional introduction, a follow-up, or a sales pitch. ChatGPT will ensure your message hits all the right notes.
Pro Tip: Specify the purpose of the email, the recipient’s relationship with you, and any key points you want to cover.
So there you have it – our top 5 prompts to supercharge your interactions with ChatGPT. From writing a letter to your loved ones to creating a business plan for the next “Facebook,” ChatGPT is a powerful tool when you know how to use it. And sometimes you can also just play with it for fun and ask a lot of philosophical or even dumb and silly questions. But don’t use it to predict future crypto prices. 
We already tried.
The post Top 5 Prompts for ChatGPT first appeared on The Shib Magazine.
]]>The post How I got my crypto blocked first appeared on The Shib Magazine.
]]>What happened since then?
Grant Thornton, a worldwide audit firm with three offices in New Zealand, took over the liquidation process after a judge’s ruling.
After four years of liquidation, not a single account holder has gotten their crypto-money back despite the accountancy firm spending $20.3m on the liquidation, including $5.78m on its own fees and $3.4m on legal fees. Grant Thornton was given the green light to sell customer funds to cover their own expenses.
The liquidators set up processes for the registration of claims and verifying the account holders’ identities. The latest step involved account holders agreeing with their balances. By the end of November last year, 72% of users contacted had confirmed their balances but are still waiting to get their crypto back.
I am still hard HODLing some $BTC and probably some others altcoins that I forgot about.
The liquidator gives a report once every four months, which basically says the same thing: “Wait and you might see your funds someday.”
A big group of ex-users gathered on Telegram https://t.me/CryptopiaHacked and are trying to coordinate actions against the veryyyy lengthy process that the liquidation firm is making them endure at their expense.
It is just another example of how startups and legacy auditing companies can mess with their users and take advantage of local policies and other “legal” means to achieve their goals.
Now that you’ve heard the story, let’s see what you should learn from my past mistakes.
- Keep the majority of your crypto in cold storage (hardware wallets) or hot wallets (e.g., MetaMask, Keplr, Phantom, Rabby), but keep them away from interacting with dApps.
You should have one HOT wallet dedicated to third-party interactions with smart contracts (NFT minting, DEX, bridge…) and dApps you are interacting with. - You should have one or multiple COLD wallets (can be cold storage or self-custodial wallets) dedicated to holding all of your staked tokens, LPs, or just HODL assets. Keep the seed of that wallet secure in an external hardware as a safeguarding measure. This wallet should only interact to transfer assets with your hot wallet.
- Be very careful with the exchange you use for on/off ramp, and try not to keep your assets on them. It can be convenient for multiple reasons (e.g., earning opportunities, high liquidity, ease of use…) but the risk will always be there for hacks, rug pulls, regulator shutdowns…
- Keep all of your usernames, passwords, and seed phrases in an external hard drive. Some Cryptopia customers reported not being able to claim their crypto balance because they forgot their usernames or passwords.
- Research and stay in touch with the latest updates (good and bad) from the exchanges or dApps you are using, even if FUD can be fake or exaggerated. Most of the time, it comes from legitimate concerns regarding an entity.
So that’s it for my story, folks. Be careful, and I will let you know if I ever get back some of my assets blocked on this gorgeous Pacific Island.
Story from a community contributor.
Twitter: @risjo_xyz
Send yours to [email protected].
The post How I got my crypto blocked first appeared on The Shib Magazine.
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