- Switch Weekly
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- One Click to Ruin Them All 🦹♂️
Good Morning, Switchers 🌞
👋Welcome to Switch Daily.
Wassupp? Had a blast on the festivities this weekend and are pumped to go all into the new week? Yeah, no long weekend is a drag; we get it. But hey, atleast the market is moving like a rocket to land us on the moon. Also, here’s another piece of good news—Bitcoin mining difficulty is at its highest since Oct 2022.
This means the network is now more secure. Furthermore, the fact that more miners are joining the effort indicates that the network is expanding, which is good for Bitcoin's price in the long run.
BTW, if you like reading this newsletter, give us a shout-out on Twitter and get your friends to subscribe. It will mean a great deal to us!
Here’s what we’ve got for you today:
Market pulse
NFT God got scammed
News feed
Meme of the day
Market pulse 📈
The market is pumped like a party rat 🥳
The broader crypto market is continuing its winning streak from the previous week. The market has gained strength from the positive CPI data released last week. The overall crypto market cap is at $993.90, almost nearing $1 Trillion, which is an important milestone. Bitcoin has gained over 22% week on week and has breached the $20K support range.
The top ten cryptos have also registered fair gains, with Polygon leading them at ~5.39%. The crypto fear and greed index is at 45/100, pointing towards slight fear in the market.
One click to ruin them all 🦹♂️
***New Breach Alert***
Just last week, we spoke about the five ways scammers tricked us into hacks in 2022. Scammers, being scammers and way quicker than us (atleast the OGs are, the rest are just copycats), have moved on already.
What on earth are we talking about? A new type of scam is plaguing the crypto and NFT world. One-click has brought down the entire digital livelihood of a well-known crypto influencer.
NFT God, a.k.a Alex, posted a series of tweets over the weekend explaining what went down.
Here’s what happened:
Know how searching for a topic on google not only gives you search results but also displays Google Ads like this?
What’s wrong with Ads? They just help make your search easier right? Well, not really.
Alex’s issues began when he downloaded open broadcaster software (OBS) to his desktop computer via a Google-ads link. Open Broadcaster Software (OBS) is a free and open-source software for video recording and live streaming.
But instead of downloading the software, the link tricked him into downloading phishing malware.😱
Soon after, the NFT God got a message on his Twitter accounts saying that his other Twitter account, “1BetterbyNFTGod,” had been hacked.
All hell broke loose when Alex figured that his NFT wallet on Opensea displayed another address. He realized that all his crypto and NFT holdings had been hacked at that moment.
The hacker did not stop there; they went on to take over the influencer’s Substack account, which had over 16 K followers and sent two emails with malicious links.
My heart raced like a Ferrari as I ran to change my substack password on my phone, not on my potentially still malware ridden desktop.
I delete the posts and alert my mailing list
I hop in the Discord and let them know the worst has happened. Every account is at risk
— NFT God (@NFT_GOD)
1:59 AM • Jan 15, 2023
One-click to destroy them all 🥶.
Next time you use Google to browse or download something, you know what not to click on—Google Ads. Stay SAFU, and have a great week ahead! 🙌🏻
Note: None of this is financial advice, and we’re not financial advisors. We’re merely your fellow investors who share information on the go.
What else is trending? 📻
After collapsing by more than 80% in the previous year, Solana is having a stellar year in 2023. SOL has more than doubled in price this month, rising more than 58 percent to $23.70 in the last seven days.
The Bank of Thailand has announced plans to allow virtual banks to operate in the country for the first time. The plan will be set in motion by 2025 to boost Thailand's economic growth by increasing competition.
Input Output Global (IOG), the development team behind Ethereum (ETH) rival Cardano (ADA), has announced the release of a new toolkit that allows for the creation of Cardano network sidechains.
Meme of the day…
Thank You,
See you later, folks. 👋
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