<ul><li>Jump Crypto has come to the rescue of the <keyword id="13104938" type="General" weightage="20" keywordseo="largest-defi-hack" source="Orion">largest DeFi hack</keyword> of 2022.</li><li>It has replaced the 120,000 stolen wETH with its own supply of 120,000 ETH.</li><li>Jump Crypto owns the developer of the <keyword id="13104939" type="General" weightage="20" keywordseo="wormhole-token-bridge" source="Orion">Wormhole token bridge</keyword>, the platform which was the victim of the DeFi attack.</li></ul>A token bridge called Wormhole was the victim of a <a href="https://www.businessinsider.in/investment/news/hackers-stole-322-million-in-2022s-largest-defi-hack-so-far-10-million-is-being-offered-for-its-return/articleshow/89324200.cms">$322 million hack</a>. However, within two days of the incident, crypto venture firm Jump Crypto has come to its rescue and pumped in the 120,000 Ether into the platform to replenish its supply. To be fair, Jump Crypto owns Certus One, the developer behind the Wormhole token bridge. <div type="twitter" handle="JumpCryptoHQ" handlename="Jump Crypto 🦬" image="http://pbs.twimg.com/profile_images/1464261388063457280/SfNDOw8C_normal.jpg" favoritecount="3086" retweetcount="428" status=".@JumpCryptoHQ believes in a multichain future and that @WormholeCrypto is essential infrastructure. That’s why we… https://t.co/WG2scAazR8" createdat="1643912006000" id="1489301013408497666"></div> The $322 million hack is 2022’s largest hacking incident targeting a decentralised finance (DeFi) platform so far. Not only did the hackers steal 120,000 wrapped Ether, they also spent three quarters of it — around $250 million — within the following 24 hours. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> The platform had patched the hack and promised users that its supply will be restored. The chief concern for most, however, was how Wormhole would restore such a huge supply. Token bridges allow users to transact across blockchain platforms, allowing crypto to be transferred from one to the other. Wormhole, for instance, allows users to transfer Solana, Ether, wrapped Ether, Polygon, and more. <cmsannotation type="cmsannotation" annotationid="The Wormhole hack" comment="subhead" text="The Wormhole hack">The Wormhole hack</cmsannotation> The Wormhole hack took place on February 2, at 6.24pm UTC. While Wormhole had also announced a bug bounty of $10 million to anyone who can help restore the stolen funds to the platform, it’s unlikely that this will happen. By February 3, the attackers had redeemed 93,750 wETH. They spent a large amount of this to buy non-fungible tokens (NFTs) like Meta Capital (MCAP), SportX (SX), Bored Ape Yacht Club (BAYC), and Finally Usable Crypto Karma. Some of the tokens had also been converted to USDC, and about $44 million of the Solana tokens were left in the illicit wallet where the original transfer was made.

Crypto VC firm ‘jumps’ in to restore Wormhole’s supply after DeFi hack

<ul><li>Wormhole’s token bridge was hacked on February 2, and hackers stole <keyword id="1905050" type="General" weightage="20" keywordseo="solana" source="Orion">Solana</keyword> tokens worth $322 million.</li><li>The hackers have already spent a large part of the crypto, and converted some to USDC as well.</li><li>The hack has been patched and Wormhole has said that its ETH supply will be replenished soon.</li><li>The token bridge is also offering a bug bounty of $10 million to anymore who can return the funds.</li></ul>The token bridge called Wormhole has experienced a security exploit, leading to the loss of 120,000 <keyword id="13096215" type="General" weightage="20" keywordseo="wrapped-ether" source="Orion">wrapped Ether</keyword> (wETH) tokens, worth approximately $322 million. The hack is the largest crypto hack in 2022 so far, underlining the fact that hackers and cybercriminals are increasingly targeting decentralised finance (<a href="http://coindcx.com">DeFi</a>) platforms. Token bridges like Wormhole allow users to receive cryptocurrencies of different forms — Ether, Solana and more — without needing a centralised exchange to act as a custodian. It allows users to receive cryptocurrencies in Solana, Binance Smart Chain (BSC), Polygon, Oasis, <keyword id="108152" type="General" weightage="20" keywordseo="avalanche" source="Orion">Avalanche</keyword> and <keyword id="11973832" type="General" weightage="20" keywordseo="terra" source="Orion">Terra</keyword>. Wormhole has offered a bug bounty of $10 million to anyone who can return the funds. <cmsannotation type="cmsannotation" annotationid="The making of the DeFi heist" comment="subhead" text="The making of the DeFi heist">The making of the DeFi heist</cmsannotation> The wETH token is a separate token built on the Binance Smart Chain (BSC) of the Ethereum platform’s ERC20 system. And, the hack took place on the Solana side of the token bridge. Some worry that its Terra bridge could also be vulnerable. Security experts have reverse engineered and <a href="https://twitter.com/samczsun/status/1489044939732406275?s=20&amp;t=P8w7JLnLIi27PIlHJHhl2Q">explained</a> the hack on Twitter now that it has been patched. The Wormhole team has assured users that its wETH supply will be renewed soon enough. <div type="twitter" handle="wormholecrypto" handlename="Wormhole🌪" image="http://pbs.twimg.com/profile_images/1485673210545065985/6_BFqnKf_normal.jpg" favoritecount="4303" retweetcount="1017" status="The wormhole network was exploited for 120k wETH. ETH will be added over the next hours to ensure wETH is backed… https://t.co/zUbJY9f2VN" createdat="1643840703000" id="1489001949881978883"></div> <cmsannotation type="cmsannotation" annotationid="Spending the stolen cryptocurrency" comment="subhead" text="Spending the stolen cryptocurrency">Spending the stolen cryptocurrency</cmsannotation> The hack itself took place on February 2, at 6.24pm UTC. At the time of writing, the attackers had already redeemed 93,750 wETH, worth about $250 million, since then. According to <a href="https://cointelegraph.com/news/wormhole-token-bridge-loses-321m-in-largest-hack-so-far-in-2022">Cointelegraph</a>, the hackers have used these funds to buy SportX (SX), Meta Capital (MCAP), Finally Usable Crypto Karma, and Bored Ape Yacht Club (BAYC) tokens. They also swapped some of the Solana tokens they stole for USDC, suggesting that they’re looking to convert the tokens into fiat currency. Cointelegraph reported that the wallet still had over $44 million worth of Solana tokens left after these transactions. The <keyword id="13096213" type="General" weightage="20" keywordseo="wormhole-hack" source="Orion">Wormhole hack</keyword> isn’t exactly a first of a kind incident though. The DeFi platform is one in a pretty long line of platforms that have run into trouble from scammers and hackers. In fact, in December last year, blockchain tracking firm Chainalysis reported that scammers had <a href="https://www.cnbc.com/2022/01/06/crypto-scammers-took-a-record-14-billion-in-2021-chainalysis.html">taken away</a> over $14 billion in cryptocurrencies from DeFi platforms over the past year. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/el-salvadors-chivo-wallet-is-returning-with-a-new-service-provider/articleshow/89302366.cms">El Salvador’s Chivo wallet is returning with a new service provider</a> <a href="https://www.businessinsider.in/investment/news/crypto-winter-is-coming/slidelist/89298409.cms">I know what you did last crypto winter…</a> <a href="https://www.businessinsider.in/investment/news/nft-sales-hit-7-billion-all-time-high-in-january-but-it-may-just-be-a-bubble-waiting-to-pop/articleshow/89249178.cms">NFT sales hit $7 billion all-time-high in January, but it may just be a bubble waiting to pop</a>

Hackers stole $322 million in 2022’s largest DeFi hack so far — $10 million is being offered for its return

<ul class="summary-list"><li>$3.7 billion was lost to crypto scams, hacks, and exploits in 2022, according to blockchain audit firm CertiK.</li><li>That marks the worst year ever for the industry, which lost $3.2 billion in 2021.</li></ul>Cryptocurrency markets lost $3.7 billion to scams, hacks and exploits in 2022 — the worst year for the industry and up from $3.2 billion in 2021, according to data from blockchain audit firm <a href="https://www.coindesk.com/business/2023/01/03/2022-crypto-attacks-were-least-in-december-with-62m-lost-in-heists-certik-says/" target="_blank" rel="noopener">CertiK.</a>While December was the least harmful month in 2022 with roughly $62 million worth of crypto-based exploits, more than $595 million worth of tokens was stolen in November, CertiK added. <a href="https://www.trmlabs.com/post/looking-back-at-2022-and-towards-2023-to-see-what-the-future-holds-for-digital-assets-policy" target="_blank" rel="noopener">A separate report</a> from blockchain analytics firm TRM Labs also put 2022's losses at $3.7 billion and estimated that about 80% of the stolen funds involved attacks against decentralized finance (DeFi) projects. "With almost three times as much value lost from Web3 protocols in 2022 compared to 2021, it's clear that there's still a lot of work to be done to secure the Web3 world," Ronghui Gu, the CEO and cofounder of CertiK, told Insider in a statement.Gu added: "Centralized crypto platforms and exchanges took center stage this year, but if Web3 is to offer a real alternative to centralization then we need to double down on the basics: functionality and security."Among the notable hacks last year, North Korea's Lazarus Group made off with $625 million after exploiting Axie Infinity's Ronin Network in April. That followed the nearly $325 million attack on cross-chain service Wormhole in February. Ari Redbord, head of legal and government affairs at TRM Labs, told <a href="https://markets.businessinsider.com/news/currencies/north-korea-hackers-lazarus-crypto-crime-venture-capital-firms-trm-2023-1">Insider</a> that North Korea alone was responsible for over $1 billion of stolen funds. "When you're talking about billions of dollars and North Korea, you're talking about a country with essentially no GDP, so they've essentially created an economy laundering cryptocurrency and we know those funds aren't going to fund a lifestyle," Redbord said.He added: "They'll be used for nuclear proliferation or ballistic missile systems. In 2022, these hacks moved from being a law enforcement issue to being a national security issue."Crypto markets had a rocky 2022, with nearly two-thirds of its market value being wiped out over the span of a year, according to data from <a href="https://messari.io/" target="_blank" rel="noopener">Messari.</a> The industry continues taking hits from the fallout of Sam Bankman-Fried's once-$32 billion crypto empire FTX, which caused widespread contagion in the last two months of the year.

$3.7 billion was lost to crypto scams and hacks in 2022 - the worst year in the market's history

<ul class="summary-list"><li>Hackers stole $100 million worth of cryptocurrencies from the Harmony blockchain Thursday.</li><li>Harmony said in a tweet that it identified the <keyword id="11907745" type="UNKNOWN" weightage="60" keywordseo="hack" source="Orion">hack</keyword> early Thursday morning.</li></ul>Hackers stole $100 million worth of cryptocurrencies from the Harmony blockchain Thursday, <a href="https://twitter.com/harmonyprotocol/status/1540110924400324608?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1540110926937894913%7Ctwgr%5E%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2022%2F06%2F24%2Fhackers-steal-100-million-in-crypto-from-harmonys-horizon-bridge.html">the company said on Twitter</a>. The company said it was working with the FBI and "forensic specialists to identify the culprits and retrieve the stolen funds." Harmony said it had notified the Horizon bridge to stop further transactions. Harmony did not immediately respond to Insider's request for comment.Harmony is the protocol behind the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> bridge Horizon, which allows the exchange of a broad ecosystem of <keyword id="12682860" type="UNKNOWN" weightage="60" keywordseo="tokens" source="Orion">tokens</keyword> from blockchain to blockchain.Crypto bridges act as a sort-of intermediary that allows a variety of tokens to interact with one another, which is typicality difficult because networks like <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> and <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> require their native tokens to process transactions on their ecosystems. But such bridges are vulnerable to thefts given the lack of clarity behind the inner workings of their technology and the anonymity of the teams behind them. Hackers have also targeted bridges as they are a central market place for a wide collection of coins. The Horizon hack is the third attack on a crypto bridge so far this year, bringing the total stolen to roughly $1 billion. Hackers previously targeted the Wormhole bridge for $300 million in February before stealing $620 million from the Ronin bridge in March.

Hackers stole $100 million worth of cryptos from Harmony's blockchain in another blow to digital assets

<ul class="summary-list"><li>Hackers stole almost $700 million in 72 attacks in the first quarter of 2022, Atlas VPN said.</li><li>Attacks on the <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword> and <keyword id="13062973" type="UNKNOWN" weightage="60" keywordseo="binance-smart-chain" source="Orion">Binance Smart Chain</keyword> ecosystems accounted for over half of these losses.</li></ul><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword> hackers stole almost $700 million in 2022, and attacks on the solana and Binance smart chain ecosystems accounted for well over half of that total, according to a report on Tuesday from <a href="https://atlasvpn.com/blog/blockchain-hackers-stole-nearly-700-million-in-q1-2022">Atlas VPN said</a>.<keyword id="12048079" type="UNKNOWN" weightage="60" keywordseo="cybercriminals" source="Orion">Cybercriminals</keyword> stole $682 million from 72 attacks in the first three months of the year, the report said. Hacks of the solana and BSC networks led to almost $500 million in stolen funds, with $400 million stolen from solana and $100 million from Binance smart chain, according to Atlas VPN's data, which was based on figures from <a href="https://atlasvpn.com/blog/blockchain-hackers-stole-nearly-700-million-in-q1-2022">Hacked Slowmist.</a><keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> were the top target, with the highest number of hacks at 20, netting a near-$49 million loss. Some attackers used phishing attacks on Discord to steal victims' NFTs, the report said."With the rise of new crypto ecosystems, cybercriminals get more targets they can exploit. In addition, the surging NFT trend attracted even more scammers to the industry," Atlas VPN said.Monetary losses were calculated based on the conversion rate of a particular cryptocurrency when the attack took place.The BSC ecosystem had 12 hacks while the solana ecosystem was hacked 4 times. <a href="https://markets.businessinsider.com/news/currencies/crypto-market-facebook-earnings-metaverse-blockchain-ethereum-bitcoin-solana-hack-2022-2">Wormhole</a>, a communication bridge between solana and other decentralized finance (DeFi) networks, was the target of the biggest <keyword id="11907745" type="UNKNOWN" weightage="60" keywordseo="hack" source="Orion">hack</keyword> in February of this year."An attacker exploited a signature verification vulnerability in the network to mint 120K Wormhole-wrapped ether on solana, worth about $334 million," Atlas VPN said.The ethereum ecosystem experienced 16 hack attacks in 2022 and lost nearly $25 million. It experienced the same number of hackings in the first quarter of last year, making it the top target for hackers.Exchanges were hacked three times, losing $42 million. Other types of hacks on blockchain caused $52 million in losses in 9 instances.Most blockchain-related hacks occur when cybercriminals exploit flaws in the project code. Successful hack can cause massive losses to creators and investors on crypto platforms.Blockchain-related hacks have reached a record-high in the first quarter of 2022, showing an 118% increase compared with the same quarter last year, the data showed."The growing market of cryptocurrencies entices not only legit people interested in the technology, but also cybercriminals who want to exploit it," Atlas VPN said.Hackers stole with more than <a href="https://www.businessinsider.in/investment/news/biggest-crypto-hacks-of-2021-over-4-billion-stolen/slidelist/88560280.cms">$4 billion worth</a> of cryptocurrencies in 2021, according to a report by Crystal Blockchain, almost triple the amount stolen in 2020.And last week, a crypto hacker pulled off one of the <a href="https://markets.businessinsider.com/news/currencies/crypto-hack-ronin-network-heist-cybercrime-cryptocurrency-axie-infinity-polynetwork-2022-3">largest heists in history</a>, stealing $625 million worth of ether and stablecoin USDC after targeting Axie Infinity's Ronin Network.

Crypto blockchain hackers have stolen almost $700 million in just 3 months this year, with solana and Binance smart chain hit hard

<ul><li>More than 4,000 of the biggest cryptocurrency accounts have gotten their tokens through illicit means.</li><li>A new report by Chainalysis shows that these illicit holdings combined amount to around $25 billion.</li><li><keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">Crypto</keyword> criminals now account for 3.7% of all <keyword id="12395596" type="General" weightage="20" keywordseo="crypto-whales" source="Orion">crypto whales</keyword> in the world.</li></ul>Cryptocurrency thieves are now among the biggest token holders in the world. According to a new report from the blockchain analysis firm <a href="https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-criminal-balances-criminal-whales/">Chainalysis</a>, crypto criminals now account for 3.7% of all crypto whales — those with more than $1 million worth of <a href="http://coindcx.com">cryptocurrencies</a>. It’s a tale as old as time. Criminal activity continues to go unchecked, grows to a point where it is beyond control, and is eventually legitimised. And, the web3 ecosystem seems to be on the same track. Chainalysis has found that crypto whales are cumulatively holding over $25 billion worth of cryptocurrencies in their wallets. <cmsannotation type="cmsannotation" annotationid="Who are these crypto criminal whales?" comment="subhead" text="Who are these crypto criminal whales?">Who are these crypto criminal whales?</cmsannotation> Data shows that there are around 4,068 crypto criminal whales in the world right now. These are accounts, which not only have more than $1 million in their wallets, but also those who have over 10% of their funds coming from illicit wallet addresses — those tied to frauds and scams. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 451.276pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage of crypto holdings from illicit addresses </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Number of crypto whales </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10-25% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,374 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25-50% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">846 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50-70% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">296 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75-90% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">191 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90-100% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,361 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Date source: Chainalysis Most of the illicit gains, specifically among criminal crypto whale accounts, come either from a scam or the darknet market. <div type="image" title="Over one-third of illicit gains of criminal whales are from darknet markets." height="900" width="1200" msid="89664865" hostid="261" caption="&amp;lt;p&amp;gt;Over one-third of illicit gains of criminal whales are from darknet markets.&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;&amp;lt;em&amp;gt;&amp;lt;br&amp;gt;&amp;lt;/em&amp;gt;&amp;lt;/p&amp;gt;"></div> Whereas, overall criminal balances are dominated by stolen funds. At the end of 2021, stolen funds accounted for 93% of all criminal balances with darknet market funds clocking in second at $448 million. <div type="image" title="At the end of 2021, criminals held $11 billion worth of funds with known illicit sources" msid="89664947" hostid="261" caption="&amp;lt;p&amp;gt;At the end of 2021, criminals held $11 billion worth of funds with known illicit sources&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;&amp;lt;em&amp;gt;&amp;lt;br&amp;gt;&amp;lt;/em&amp;gt;&amp;lt;/p&amp;gt;"></div> However, when it comes to holding onto these gains, the darknet market leads the charts followed by fraud shops. Accounts with stolen funds are the earliest to liquidate their holdings. Overall, while illicit crypto gains may be on the rise, the average holding times are at least 75% shorter as compared to their all-time figures across all categories. <div type="image" title="Funds illicitly gained from darknet markets have the highest holding average" msid="89664981" hostid="261" caption="&amp;lt;p&amp;gt;Funds illicitly gained from darknet markets have the highest holding average&amp;lt;/p&amp;gt;&amp;lt;p&amp;gt;&amp;lt;em&amp;gt;&amp;lt;br&amp;gt;&amp;lt;/em&amp;gt;&amp;lt;/p&amp;gt;"></div><cmsannotation type="cmsannotation" annotationid="Crypto crimes on the rise" comment="subhead" text="Crypto crimes on the rise">Crypto crimes on the rise</cmsannotation> The fact that crypto crimes have been on the rise has been a hot topic since last year, when the crypto hype reached its peak. And, Chainalysis isn’t the only company who look notice. DeFi hacks, through which criminals syphon off funds from decentralised finance platforms, have notably grown over the past year, almost at the same pace as the crypto industry itself. Earlier this month, <a href="https://www.google.com/search?q=defi+hacks+grow+businessinsider.in&amp;rlz=1C5CHFA_enIN933IN933&amp;oq=defi+hacks+grow+businessinsider.in&amp;aqs=chrome..69i57j69i59.7047j0j7&amp;sourceid=chrome&amp;ie=UTF-8">hackers stole</a> a whopping $322 million in crypto from the Wormhole token bridge, in what is the largest DeFi hack of 2022 so far. <div type="twitter" handle="wormholecrypto" handlename="Wormhole🌪" image="http://pbs.twimg.com/profile_images/1485673210545065985/6_BFqnKf_normal.jpg" favoritecount="4769" retweetcount="1118" status="The wormhole network was exploited for 120k wETH. ETH will be added over the next hours to ensure wETH is backed… https://t.co/zUbJY9f2VN" createdat="1643840703000" id="1489001949881978883"></div> Then there are NFT rug pulls, where criminals create hype around an NFT project on social media, messaging platforms like Discord, and more in order to hike the price of their tokens. They then abandon the project once users have put their money into it, bringing the token’s price down to zero and making away with the cryptocurrencies. That said, authorities are catching up slowly but surely. On February 8, the US Department of Justice <a href="https://www.justice.gov/opa/pr/two-arrested-alleged-conspiracy-launder-45-billion-stolen-cryptocurrency">arrested</a> two individuals in Manhattan for an alleged conspiracy to launder cryptocurrency that was stolen from the Bitfinex crypto exchange hack back in 2016. The DoJ said that it had seized over $3.6 billion in cryptocurrency from the hack so far. In a first, tax authorities in the UK <a href="https://www.techcircle.in/2022/02/15/uk-authority-nabs-three-nft-fraudsters">nabbed</a> a bunch of NFTs as part of a fraud case. Her Majesty’s Revenue and Customers (HMRC) arrested three individuals who were accused of conducting a $2 million NFTs scam, and the authorities sized three NFTs worth £5000. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/bitcoin-miners-are-selling-their-holdings-while-being-caught-between-falling-prices-and-rising-difficulty/articleshow/89655546.cms">Bitcoin miners are selling their holdings while being caught between falling prices and rising difficulty</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/more-than-300000-of-chinas-new-cbdc-is-being-spent-at-the-olympics-every-day/articleshow/89655765.cms">More than $300,000 of China’s new CBDC is being spent at the Olympics every day</a>

Some of the biggest cryptocurrency HODLers are also crypto criminals, finds Chainalysis report

<ul class="summary-list"><li><keyword id="11930691" type="UNKNOWN" weightage="60" keywordseo="sam-bankman-fried" source="Orion">Sam Bankman-Fried</keyword> has called for more federal oversight of the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> industry, after a number of high-profile hacks and scams.</li><li>He said those launching coins or projects should have to follow tougher disclosure and anti-fraud rules.</li></ul>Crypto billionaire Sam Bankman-Fried has called for more government regulation in the US digital asset sector to prevent scams, hacks and "pump-and-dump" schemes.His comments came a day after the Department of Justice said it had <a href="https://markets.businessinsider.com/news/currencies/bitcoin-hack-bitfinex-crypto-justice-department-2022-2">seized $3.6 billion and arrested a couple</a> over an alleged money-laundering scheme linked to the 2016 hack of crypto exchange Bitfinex, in which bitcoin now worth $4.5 billion was stolen.Crypto companies should be subject to tougher cybersecurity and anti-hacking rules, Bankman-Fried <a href="https://www.agriculture.senate.gov/hearings/examining-digital-assets-risks-regulation-and-innovation">told the Senate Agriculture Committee</a> on Wednesday. The 29-year-old <a href="https://www.businessinsider.com/sam-bankman-fried-crypto-billionaire-profile-ftx-exchange-history-investors-2021-12?r=US&amp;IR=T">co-founded the giant crypto exchange FTX</a> in 2019.Asked about a number of recent high-profile hacks and scams, he said: "I think what this highlights is the need for Federal oversight of the cryptocurrency industry. There have been a number of hacks and scams, historically most of this has happened on unregulated venues."The <keyword id="11930688" type="UNKNOWN" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword> CEO also said he was concerned about "scams, Ponzi schemes and pump-and-dumps" connected to individual crypto assets.A pump-and-dump is where people create hype to drive up the price of an asset, only to cash out near the top and leave others nursing heavy losses.Bankman-Fried, who has made a $25 billion fortune from crypto, said regulators should force people who are launching or promoting certain digital assets to follow stricter disclosure and anti-fraud rules.Read more: <a href="https://www.businessinsider.com/crypto-winter-prediction-correct-call-alt-coins-buy-hedge-fund-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">A bitcoin bull and investing chief overseeing $1.7 billion lays out how to tackle a crypto winter that could last for at least a year — and 4 cheap projects that will thrive when the halving triggers the next bull cycle</a><keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">Cryptocurrencies</keyword> and connected technologies such as <a href="https://www.businessinsider.com/nft-meaning">non-fungible tokens</a>, or NFTs, have soared in popularity over the last year and a half. Yet the industry has long been plagued by criminality, particularly hacks and scams.Last week, hackers stole $320 million from a crypto project known as Wormhole. Affiliate Jump Trading later <a href="https://www.reuters.com/technology/crypto-network-wormhole-hit-with-possible-320-mln-hack-2022-02-03/">replenished the funds</a>.Crypto scammers took a record $14 billion in 2021, according to data company Chainalysis. Almost $3 billion of that came from so-called rug-pulls, where people create seemingly legitimate crypto projects and tokens, only to suddenly walk off with the money.US regulators are increasingly scrutinizing the crypto industry. Gary Gensler, chair of the Securities and Exchange Commission, is pushing crypto exchanges to register with the watchdog, in an effort to better protect individual investors.Yet there is still relatively little oversight. "In essence, this is an unregulated market," Rostin Behnam, the head of the US regulator the Commodity Futures Trading Commission, said at the Agriculture Committee hearing. Behnam called for Congress to grant regulators greater powers.

FTX boss Sam Bankman-Fried calls for tougher regulations to tackle crypto scams, following arrests linked to $4.5 billion bitcoin hack

<ul class="summary-list"><li>Cryptocurrencies fell along with tech and social media stocks Thursday as US after Facebook's shock earnings.</li><li>Facebook parent Meta's shares lost 20% in premarket trading, hitting other risk assets.</li></ul>Cryptocurrencies were down across the board on Thursday, as investors shunned technology, social media and metaverse-linked stocks after Facebook parent company Meta delivered weak fourth-quarter earnings and guidance that sent its <a href="https://markets.businessinsider.com/news/stocks/facebook-stock-price-meta-q4-earnings-mark-zuckerberg-tiktok-revenue-2022-2">shares plunging</a> after hours.Meta <a href="https://www.businessinsider.com/facebooks-metaverse-business-completely-misses-wall-street-expectations-reality-labs-2022-2?r=US&amp;IR=T">reported</a> a loss in users for the first time in its history. To boot, its metaverse business racked up a $10 billion loss in the fourth-quarter of 2021, versus expectations for a profit of $3 billion.Risk aversion and concern over the impact of rising interest rates and higher inflation has kept the entire cryptocurrency complex on a weak footing since the start of the year. While Meta didn't break down expenses by segements, CFO David Wehner gave some more colour to the figures by explaning how hiring and a accelerated headcount in 2022 will be the biggest contributor to expensve growth, with the metaverse being one of these areas."You know, we're expecting accelerated headcount growth in 2022 to be the biggest contributor of expense growth, and that's largely in tech and product roles to support the seven product priorities that Mark laid out: Reels, community messaging, commerce, ads, privacy, AI, and the metaverse."Metaverse-linked tokens, which were huge beneficiaries of Meta's pivot to the digital world late last year, took a hit on Thursday. Decentraland's native token, mana, was down 5.39% while rival metaverse platform The Sandbox saw its said token drop 10.60% over a 24-hour period.The two have lost well over a fifth in value since the start of 2022, a far cry from the 300% gain both made in November, in the wake of Meta's announcement.Elsewhere in the cryptocurrency market, <a href="https://markets.businessinsider.com/currencies/sol-sol">solana</a> fell back below $100 on Thursday after clawing back above this point earlier in the week. It was down 13.6% at $95, following a hack on a related network on Wednesday.The Wormhole project <a href="https://twitter.com/wormholecrypto/status/1488976115750383626">tweeted</a> on Wednesday that its site was down for maintenance while it looked into "a potential exploit." Wormhole is a bridge between the <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> and <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword> networks. Cybersecurity analyst <a href="https://twitter.com/CertiKCommunity/status/1488985314404319240?s=20&amp;t=_nLS7cwz108hZJm0JdNSAQ">CertiK</a> reported a hack had resulted in the loss of 80,000 ether, worth around $210 million at the current price, and around $50 million in solana. "A cross chain bridge between ethereum and solana, called Wormhole Bridge, was exploited yesterday by an attacker, resulting in the loss of 120,000wETH tokens (equalling around $320 million)," Marcus Sotiriou, an analyst at GlobalBlock, said. "This is the second largest DeFi hack to date. The bridge allows users to send and receive <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> between various blockchains like ethereum, solana," he added.Last week, <a href="https://markets.businessinsider.com/news/currencies/crypto-crime-blockchain-money-laundering-bitcoin-ethereum-defi-chainalysis-2022-1">Chainalysis reported</a> that DeFi platforms accounted for $900 million of the total money laundered in 2021, a 1,964$ year-over-year increase."Solana's cheap transaction costs reportedly encourage bots to spam servers and crowd out users who need to re- margin underwater positions. Fresh fixes are pledged, but this is not the first time. Basically, it illustrates the current trade-offs between cost or speed and security, as well as the price of prioritising rapid ecosystem development," UBS strategists led by James Malcolm said.<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> meanwhile was last down 4.6% in the last 24 to around $36,742, while <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a> was down 5.3% at around $2,621, according to CoinMarketCap.Read more: <a href="https://www.businessinsider.com/crypto-crash-outlook-strategy-sports-investing-betting-fanduel-bullpen-vc-2022-1?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">Crypto needs 'to come crashing back to Earth' : An early FanDuel investor explains why even the huge splurge on sports isn't enough to draw him into 'the hype' — and shares 2 picks for defying a challenging growth environment</a>

Cryptocurrencies take a beating along with tech stocks, as Facebook earnings hit metaverse tokens and a blockchain hack hits solana and other DeFi coins

<ul class="summary-list"><li><keyword id="12012796" type="UNKNOWN" weightage="60" keywordseo="opensea" source="Orion">OpenSea</keyword> has confirmed an estimated $1.7 million worth of NFTs were stolen in a hack on Saturday.</li><li>The phishing attack exploited the smart-contract code used in NFTs, the platform believes.</li></ul>Leading NFT marketplace OpenSea has confirmed an estimated $1.7 million worth of tokens were stolen in a hack at the weekend. In the attack, which took place between 5 p.m. and 8 p.m. ET on Saturday, the thieves tricked OpenSea users into part-signing smart contracts to allow the trades. They then completed the contract process to transfer the NFTs, or non-fungible tokens, to their own address.The hackers likely used "phishing" — in which an official communication is faked to look like the real thing — to fool NFT owners into signing, OpenSea believes."As far as we can tell, this is a phishing attack. We don't believe it's connected to the OpenSea website. It appears 32 users thus far have signed a malicious payload from an attacker, and some of their NFTs were stolen," OpenSea CEO Devin Finzer said in a series of <a href="https://twitter.com/dfinzer/status/1495245308812402688">tweets</a>.<blockquote class="twitter-tweet blockquote" data-lang="en" data-cards="" data-conversation="">—Devin Finzer (dfinzer.eth) (@dfinzer) <a href="https://twitter.com/mims/statuses/1495245307898044416">February 20, 2022</a></blockquote>In <a href="https://twitter.com/opensea/status/1495625768713469954">later tweets</a>, Finzer dispelled suggestions that the NFT haul was worth as much as $200 million, and clarified that the number of victims had been narrowed down to 17 individuals."The attacker has $1.7 million of ETH in his wallet from selling some of the stolen NFTs," he said.The <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> loss is small compared with recent high-profile hacks, such as solana's <a href="https://www.businessinsider.in/investment/news/hackers-stole-322-million-in-2022s-largest-defi-hack-so-far-10-million-is-being-offered-for-its-return/articleshow/89324200.cms">$322 million</a> wormhole bridge attack, which also used a flaw in smart contracts. But it is a sign that such crime is becoming more common, as suggested by a recent <a href="https://markets.businessinsider.com/news/currencies/crypto-crimes-2021-defi-scam-stolen-funds-rug-pull-chainalysis-2022-1?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Chainalysis report</a> that found criminals nabbed crypto worth $14 billion in 2021, a rise of 80%.Persistent security issues could become a barrier to mainstream adoption of crypto, given a burden is being passed on to the user, some analysts have warned.The risk of smart contract-based attacks in decentralized finance, especially in developing networks like solana, are quite high, according to Hart Lambur, cofounder of the UMA protocol."Smart contract bugs are unfortunately a common risk in DeFi," Lambur told Insider recently.The OpenSea hack exploited the <a href="https://twitter.com/Nesotual/status/1495223117450551300?s=20&amp;t=J8kqfpXP56ppqHJ1ax1VyQ">Wyvern Protocol</a>, which underpins most NFT smart contract processes. As the protocol is open source, the code is standard and publicly available.There are three ways to authorize an order, according an explainer on the Wyvern Protocol website."Orders must always be authorized by the maker address, who owns the proxy contract which will perform the call. Authorization can be done in three ways: by signed message, by pre-approval, and by match-time approval."The OpenSea victims signed a partial contract for the NFT trade, giving the attacker a general authorization but leaving it largely blank — something like signing a blank check. That let the hackers transfer ownership of the NFTs without making any payment.At least 254 NFTs were taken, <a href="https://twitter.com/PeckShieldAlert/status/1495281343927767040">according to crypto analysis company PeckShield</a>, though the company has not confirmed the tally.After talking to those affected, OpenSea decided a new Wyvern 2.3 contract was not used in the phishing attack, its CEO said. <a href="https://twitter.com/dfinzer/status/1495302784689704966">Finzer said</a> it had also ruled out phishing via clicking on the OpenSea site's banner; clicking on a faked OpenSea email; or using the platform's listing migration tool. Minting, buying, selling or listing NFTs was not at fault either, he said.The NFT platform is investigating whether the victims had interacted with a list of common websites, he added. OpenSea did not respond to an Insider request for comment.Read more: <a href="https://www.businessinsider.com/bitcoin-price-prediction-ai-platform-founder-btc-eth-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">A former hedge-fund trader's AI platform predicts bitcoin returns will crush ethereum by 33% over the next 3 months. He explains how users of the service are beating the average stock-market investor by 18%</a>.

OpenSea confirms hackers made $1.7 million on NFTs stolen in a phishing attack at the weekend

<ul><li>India announced a 30% flat rate on income from ‘virtual digital assets’ due this year’s Union Budget.</li><li>The country has also been working on a bill to regulate the cryptocurrency space since 2019.</li><li>Expanding the definition could help the government tax NFTs, SIPs and more.</li></ul>The Indian government announced its plans to tax cryptocurrency transactions at a rate of 30% during the Union Budget. However, it's yet to nail down the definition of what it means by a ‘virtual digital asset’. <div type="Article" hostid="261" msid="89268587" title="From cryptocurrencies to NFTs, India to tax all ‘virtual digital’ assets at 30%" mstype="2" mssubtype="0"></div> It remains unclear whether the tax only applies to cryptocurrencies and <a href="https://www.businessinsider.in/investment/news/nft-sales-hit-7-billion-all-time-high-in-january-but-it-may-just-be-a-bubble-waiting-to-pop/articleshow/89249178.cms">non-fungible tokens (NFTs)</a> or other monetary use cases emerging from the blockchain ecosystem as well. According to a report by the <a href="https://economictimes.indiatimes.com/tech/tech-bytes/virtual-digital-assets-may-get-a-broader-definition/articleshow/89393614.cms">Economic Times (ET)</a>, the government wants the definition of ‘virtual digital assets’ to be dynamic enough to cover any new product that comes into being due to technological changes – an ask that sounds fair enough, considering the fast-paced changes seen in the cryptocurrency space. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Widening the definition of ‘virtual digital assets’" comment="subhead" text="Widening the definition of ‘virtual digital assets’">Widening the definition of ‘virtual digital assets’</cmsannotation> As things stand, the current definition of a virtual digital asset includes” any information or code or number or token (not being Indian currency or any foreign currency), generated through cryptographic means or otherwise.” It also includes NFTs and “any other digital asset, as the Central Government may, by notification in the Official Gazette specify:” Simply put, this means that the government has the power to include any new use case it deems to be a ‘virtual digital asset’ under the 30% tax umbrella as and when it deems fit. The crypto industry, especially in India, has grown to be worth billions of dollars in less than two years. While the 2020’s mostly saw Indians trading in cryptocurrencies, the country has seen a healthy growth in the NFT market in 2021 as well. According to a November 2021 <a href="https://www.livemint.com/technology/tech-news/india-ranks-third-in-terms-of-interest-in-metaverse-projects-11637847044719.html">report</a> from blockchain tracking firm DappRadar, over 500,000 Indian users had shown interest in metaverse and NFTs since the beginning of that month alone. The country was ranked fifth in terms of interest in such projects by DappRadar, behind the US, Indonesia, Japan and Philippines, respectively. NFTs and cryptocurrencies aside, the industry in India has also shown an intent to expand to new crypto-focused products. For instance, CoinSwitch Kuber had said that it intends to expand into traditional asset trading as well. On February 7, it also <a href="https://www.livemint.com/companies/news/coinswitch-launches-recurring-buy-plan-for-crypto-assets-11644216343760.html">launched</a> a recurring buy plan (RBP) for crypto assets. Systematic investment plans (SIPs) and mutual fund-like products around cryptocurrencies have also been <a href="https://economictimes.indiatimes.com/markets/cryptocurrency/investors-are-chasing-crypto-sips-is-it-your-game/articleshow/86292991.cms">explored</a> by various firms. The one thing that is clear is that the Reserve Bank of India’s (RBI) central bank digital currency (CBDC) – <a href="https://www.businessinsider.in/budget/news/digital-rupee-to-be-introduced-by-the-rbi-confirms-fm-nirmala-sitharaman-speech/articleshow/89268343.cms">the digital rupee</a> – will not be treated as a digital asset. Since it is issued by the RBI and will be hosted on a private blockchain, the digital rupee will be treated as normal currency only, as clarified by Finance Minister Nirmala Sitharaman during the post-budget press conference. <cmsannotation type="cmsannotation" annotationid="India’s crypto bill is still a work in progress" comment="subhead" text="India’s crypto bill is still a work in progress">India’s crypto bill is still a work in progress</cmsannotation> India has been working on a bill to regulate cryptocurrencies since 2019. The first iteration banned all cryptocurrency activity. Since then, the Sithraman has <a href="https://www.businessinsider.in/cryptocurrency/news/india-crypto-bill-gets-a-revamp-but-its-still-a-work-in-progress-says-finance-minister-nirmala-sitharaman/articleshow/88001952.cms">clarified</a> a new bill will be tabled in Parliament and that it is significantly different from its predecessor. The bill was first <a href="https://www.businessinsider.in/finance/news/cryptocurrency-in-india-is-legal-but-a-pending-bill-with-the-government-could-change-things/articleshow/74521104.cms">listed</a> on the agenda for the Budget session of the Parliament last year, and appeared again on the agenda for the Winter session, which was held in December 2021. Both times, the bill sparked speculations of a possible ban on cryptocurrencies and crypto trading in India. However, the new bill is <a href="https://www.businessinsider.in/cryptocurrency/news/no-india-crypto-bill-in-sight-even-after-winter-session-of-parliament-comes-to-a-close/articleshow/88449161.cms">yet to be released</a> into the public domain for review. <div type="ExtQuote" text="By bringing in taxation, the government legitimises the industry to a large extent. The majority of people, especially corporates, who have been sitting on the sidelines because of uncertainties will now be able to participate in crypto. Overall, it’s a positive move for the industry." auname="Nischal Shetty, CEO of Indian crypto exchange WazirX"></div> The introduction of a 30% tax, while high, has been accepted by many as a form of acceptance of cryptocurrencies by the country – a way of giving the cryptocurrency space an air of legitimacy. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-ethereum-cardano-and-others-are-making-a-comeback/slidelist/89395672.cms">Bitcoin is trying to make a comeback as it holds above ₹31 lakh</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-steel-sbi-interglobe-aviation-paytm-and-other-hot-stocks-on-february-7/slidelist/89394977.cms">Tata Steel, SBI, InterGlobe Aviation, Paytm and other hot stocks on February 7</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/crypto-vc-firm-jumps-in-to-restore-wormholes-supply-after-defi-hack/articleshow/89350142.cms">Crypto VC firm ‘jumps’ in to restore Wormhole’s supply after DeFi hack</a>

India’s definition of ‘virtual digital assets’ isn’t set in stone

Remember 2007? That was before cloud computing became a thing and Microsoft was convinced that every home would have a big computer holding all of our movies, photos and songs.
<div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><img src="https://static-ssl.businessinsider.com/image/534ece3a69bedd8f5e24be62-260-219/mommy-server-book.jpg?maxX=300" border="0" alt="Mommy Server book" width="300" /><a href="http://www.amazon.com/Mommy-Why-There-Server-House/dp/160530641X">Amazon/Microsoft</a></div></div>Microsoft even published a children's book on the topic: <a href="http://www.amazon.com/Mommy-Why-There-Server-House/dp/160530641X">"Mommy, Why is There a Server in the House?"</a> about - we kid you not - a "stay-at home" computer server.
The book is funny but its reviews are even funnier. For instance, Amazon reviewer Boomzilla wrote:
My kids loved this book so much that they insisted that I buy them others in the same series including "Rover the dog says "SYN/ACK!", "How to be the Best at Firewall Configuration (The Boy's Book)", "Big, Bad Bill And The Blue Screen of Death" and their all time favorite "Everybody Poops".
It made us wonder, what other geeky comedic gems are scattered around the Amazon website. Turns out, quite a few. Honestly, you can't make this stuff up. Or maybe you can. Take a look.
<div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><a href="http://www.amazon.com/Animewild-Hacked-USB-Flash-Drive/dp/B001L670LY/ref=tag_stc_cust_edpp_ttl"><img src="https://static-ssl.businessinsider.com/image/534ed0136da811951324be6b-425-318/hacked-usb-drive-1.jpg" border="0" alt="Hacked USB drive" width="300" /><a href="http://www.amazon.com/Animewild-Hacked-USB-Flash-Drive/dp/B001L670LY/ref=tag_stc_cust_edpp_ttl">Amazon/Animewild</a></a></div></div>Hacked USB Flash Drive
Manufacturer promises: "YOU WILL BE THE ENVY OF ALL COMPUTER GEEKS!"
Amazon reviewer "Kort" writes:
When I first saw this product I thought to myself, "Hey, what a neat idea!" I've used the hacked USB cord trick for some time now and I've yet to be mugged while sipping down Double Mocha Latés at Starbucks. I find it works really well when used in conjunction with wearing <a href="http://www.amazon.com/Rubies-Costume-Co-Frenzy-Wig/dp/B00FLTWTCC/ref=cm_cr_dp_asin_lnk">Crazy Black Red Streak Clubbing Wig</a> and sitting next to <a href="http://www.amazon.com/Psycho-Sam-Animated-Halloween-Prop/dp/B002KUYCZW/ref=cm_cr_dp_asin_lnk">Psycho Sam</a>. I can use free wireless all day long and not even the coffee shop employees will bother me.
<hr />
<div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><a href="htt&lt;p>&lt;strong> &lt;/strong>&lt;/p>p://www.amazon.com/dp/B004H38YZY/ref=azfs_379213722_Wheelmate_1?pf_rd_m=ATVPDKIKX0DER&amp;pf_rd_s=center-5&amp;pf_rd_r=196HBH25KA45TP8HG29P&amp;pf_rd_t=1401&amp;pf_rd_p=1608755502&amp;pf_rd_i=1001250201"><img src="https://static-ssl.businessinsider.com/image/534ed3e669beddf26d24be61-965-724/steering-wheel-computer-desk-1.jpg" border="0" alt="Steering wheel computer desk" width="300" /><a href="http://www.amazon.com/dp/B004H38YZY/ref=azfs_379213722_Wheelmate_1?pf_rd_m=ATVPDKIKX0DER&amp;pf_rd_s=center-5&amp;pf_rd_r=196HBH25KA45TP8HG29P&amp;pf_rd_t=1401&amp;pf_rd_p=1608755502&amp;pf_rd_i=1001250201">Amazon/AutoExec</a></a></div></div>AutoExec Wheelmate Steering Wheel Attachable Work Surface Tray 
Manufacturer promises that it will make your car's steering wheel: "one of the most ergonomic work spaces available."
From a section labeled "Customer Questions &amp; Answers":
Q: What's the average number of fatalties [sic] per user? Just an estimate is fine.
A: For every user, there is least one death apporximately [sic].
Amazon reviewer "George Takei" (yes, <a href="http://www.amazon.com/gp/pdp/profile/A1Q8RI7E9A68SU/ref=cm_cr_dp_pdp">of "Star Trek"</a> fame) writes:
My husband Brad always warns me not to try and update my Facebook page while I'm driving. "You'll hit another pedestrian," he says. "This isn't the <keyword id="6356323" type="UNKNOWN" weightage="100" keywordseo="Enterprise">Enterprise</keyword>, there isn't a deflector array." Then along comes a miracle product like this! I can now happily fly at warp speed down the streets of Los Angeles, laptop or mobile device perched right in front of me, so I can keep both eyes right on it AND on the road. It's so much easier to ignore all the frightened screams and annoying honking when you've got Facebook to look at while driving. Thank you, Wheelmate!
Reviewer John Meinken writes:
I'm ddriving home now. It's OK Iguess, but the bumpy road majkes it hard to type. And theree's a lot of pedeestrians and traffi c that keep distracti9ng me fromm my computer.
<hr />
<div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><a href="http://www.amazon.com/review/R2JMIVFY21VMGA/ref=cm_cr_pr_perm?ie=UTF8&amp;ASIN=B000NG3ZKI&amp;nodeID=&amp;tag=&amp;linkCode="><img src="https://static-ssl.businessinsider.com/image/534ed6bd69beddef0324be69-240-145/3m%20nuclear%20duct%20tape.jpg" border="0" alt="3M Nuclear Duct Tape" width="300" /><a href="http://www.amazon.com/3M-Performance-Nuclear-48-Millimeter-54-8-Meter/dp/B000NG3ZKI/ref=cm_rdp_product">Amazon/3M</a></a></div></div>3M Performance Plus Nuclear Duct Tape, Slate Blue
Amazon reviewer <a href="http://www.amazon.com/review/R2JMIVFY21VMGA/ref=cm_cr_pr_perm?ie=UTF8&amp;ASIN=B000NG3ZKI&amp;nodeID=&amp;tag=&amp;linkCode=">honeybearsf writes: </a>
When we found cracks in the containment structure, we used to have to shut the whole plant down; then there was a lot of hassle with the nuclear regulatory agency about structural integrity and environmental contamination. With this quality duct tape, that's all in the past. Now, when we see a cracked or crumbling wall, we just bring out the tape. The slate blue blends right in. I do recommend that you use use double layers for openings near the reactor core.
<hr />
<div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><a href="http://www.amazon.com/Denon-AKDL1-Dedicated-Discontinued-Manufacturer/dp/B000I1X6PM/ref=cm_rdp_product"><img src="https://static-ssl.businessinsider.com/image/534eda2ceab8eae87c24be5e-500-375/denon-cable-1.jpg" border="0" alt="Denon cable" width="300" /><a href="http://www.amazon.com/Denon-AKDL1-Dedicated-Discontinued-Manufacturer/dp/B000I1X6PM/ref=cm_rdp_product">Amazon/Denon</a></a></div></div>Denon AKDL1 Dedicated Link Cable
From a section labeled "Customer Questions &amp; Answers":
Q: Has anyone else tried using this cable to join their fish poacher to their bread machine?
A: I tried to use this to learn piano and accidentally resurrected Beethoven from the grave! Luckily this cable sent the zombie further into the future to delay the apocalypse.
Amazon reviewer M McKinley writes:
A caution to people buying these: if you do not follow the "directional markings" on the cables, your music will play backwards. Please check that before mentioning it in your reviews.
Reviewer George Takei writes:
The minute I plugged this cable in, I knew something was amiss. The first evidence? The small wormhole that appeared in our living room, right next to our holstein cowhide recliner. Peering into it I could discern the snarling face of a Ferengi, likely somewhere out in the Gamma quadrant.
Then things got really hairy. Brad shouted from the kitchen that he was detecting elevated tachyon levels from our Vita-Mix, so we immediately diverted power to our forward Romco Rotisserie array. Set it and forget it, indeed.
Still no go. The wormhole continued to grow. So I did what anyone in this rather awkward situation would. I recalibrated our George Foreman Grill (about 10 picometers), ejected the warp core from our Dyson Ball Vac, and unplugged all the Magic Jacks in the house. Bingo. No more worm hole.
I guess what I'm saying is that you can use this cable, but only if you have substantial Star Fleet training.
(If you don't understand that review, here's a link to the <a href="http://www.startrek.com/database_article_navigator">official "Star Trek" Database</a> to help you decode it.)
<hr />
<div class="KonaFilter image-container float_right" style="width:300px"><div class="image"><a href="http://www.amazon.com/Honeywell-Ademco-944WH-M-Magnet-944WH/dp/B001UKRDVS/ref=cm_cr_pr_product_top"><img src="https://static-ssl.businessinsider.com/image/534eded8ecad042a2e24be62-425-425/honeywell%20ademco-magnet.jpg" border="0" alt="Honeywell Ademco magnet" width="300" height="300" /><a href="http://www.amazon.com/Honeywell-Ademco-944WH-M-Magnet-944WH/dp/B001UKRDVS/ref=cm_cr_pr_product_top">Amazon/Honeywell</a></a></div></div>Honeywell Ademco 944WH-M Magnet Only for 944WH
Amazon reviewer TechnoLady writes:
DO NOT Use This On the 944WG !
When they say "Only for 944WH" they really mean it! I bought it 13 years and a week ago (no 'Prime', Amazon- seriously!?) and tried to use it on my 944WG and accidentally created a magnetic time vortex that sucked me back into the year 2000. Unfortunately, while there, I sat on a butterfly and six months later Bush instead of Kerry is President, we're in a war with Iraq and half the country is unemployed. My bad.
So only two stars really because of time vortex but I'm giving it an additional star because of the killing I made on Apple.
Reviewer Beverly writes:
I love my 944WH-M Magnet. I enjoy messing with the smaller jet craft overhead, and pulling my neighbor who has a steel plate in his head, off course on his way to the mailbox. Great fun!Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.

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