The Crypto Cafe with Terence/Crandorz

So if you've been seeing the news about Coldcard and the Bitcoin hack, let me just explain briefly what happened. If not, let me get you up to speed: Recently, a serious flaw was found in Coldcard hardware wallets, and around US$89 million worth of Bitcoin…

So if you've been seeing the news about Coldcard and the Bitcoin hack, let me just explain briefly what happened. If not, let me get you up to speed: Recently, a serious flaw was found in Coldcard hardware wallets, and around US$89 million worth of Bitcoin has reportedly been stolen so far. What happened exactly? Some Coldcard devices accidentally created recovery phrases using weak randomness. This made certain seed phrases predictable enough for hackers to guess with powerful computers. This means the hackers did not need to: - Steal or touch the Coldcard - Know the device PIN - Infect the owner’s computer - See the recovery phrase They could recreate possible seed phrases, check which ones contained Bitcoin and transfer the funds. Potentially affected devices include the Coldcard Mk2, Mk3, Mk4, Mk5 and Q but it depends on the firmware used when the seed phrase was originally created. If you created your seed phrase using the firmware during a certain timing (Around 2021), your wallet is vulnerable to this. To note that even updating firmware is not enough and you need to create a new seed phrase/wallet after updating. If you're using Coldcard then here's what to do: 1) Update to the latest official firmware. 2) Generate a completely new seed phrase. 3) Verify and safely back up the new seed. 4) Send a small test transaction. 5) Move the remaining Bitcoin to the new wallet. 6) Never enter your seed phrase into a website or “Coldcard checker.” Scammers will likely use this incident to steal more wallets. If you don’t use a Coldcard-generated seed, you are not affected by this particular vulnerability. Check the official advisory: https://blog.coinkite.com/coldcard-mk3-seed-generation-warning/ Also more attacks on coldcard wallets: https://www.coindesk.com/tech/2026/08/02/bitcoin-cold-wallet-attack-spreads-to-4-500-addresses-as-losses-near-usd89-million

So I didn't exactly wrote about this but Robinhood (yes, the investing platform) has launched a new layer 2 chain recently at the beginning of the month. So what happened so far? Basically one of the first memecoin that exploded and rose to over 200M market cap before proceeding to crash down again. Memecoins are exploding again on the Robinhood chain, but I can guarantee most people are getting burnt again. Now I'm starting to see other cat coins too again lol

Something to think about, where do you think we're at this point of the cycle seeing so many projects and even exchanges shutting down now. I think we're somewhere between Anger and Depression, and we may last a few weeks, or a few months. Who knows? One thing for sure, eventually things will start to rally, and this whole chart will play out again. We had the first BTC boom in 2016, NFTs in 2021, Memecoins in 2024. So sit back and see what comes next I suppose.

More CEX and DEXes shutting down. Here's a big tip from the big guy himself https://x.com/dango/status/2080707796144705625 https://x.com/BitMartExchange/status/2081197305491845201

Crypto Winter in effect again. We're starting to see companies wind up, chains shut down, firms going into bankruptcy. Be careful where you're putting your money at especially during these times. One of the OG CEX in the market has just announced shutting down as well and would wind down by 23rd September. If you're on DeFi, make sure to monitor the protocols your money is in. A lot of protocols are going under very quickly these few months. https://x.com/BitMEX/status/2080201602456301580

Just gotta share this truth. The fact is that most people get burnt by memecoins, and only a very tiny % of people do actually make money from it.

Cosmos used to be one of the hottest things back in 2021 to 2022, but now.. the projects using the cosmos ecosystem: Cosmos Labs never did build the Eureka (IBC V2) bridge to Solana or Ethereum L2s. Cosmos Labs never did address the super high inflation of the ATOM token. A whole host of validators left, including CitadelOne and Cosmostation. Noble went into maintenance mode, ending development of USDC and USDN. Injective USDC never moved off EVM or became transferrable over IBC. Neutron closed, taking Drop, Mars, Structured, Duality etc with it. UX (formally Umee) closed. Wormhole's legacy front end for Cosmos closed. Saga got hacked, and rebranded to AI Labs. Secret got hacked, and today announced a closure and move to Arbitrum. Gravity Bridge got hacked. Quicksilver got hacked. Namada got hacked. Thorchain got hacked. Story protocol became the Data Foundation. DyDx went into maintenance mode and instead set up Arcus on Robinhood chain. Levana Perps closed. Xion rebranded to Verona. Om rebranded to Mantra, and now they're trying to get everyone to switch to NVNM. Elys migrated to Base as Ryze. MapOfZones is about to close. BitFrost Cosmos bridge support is being ended. Osmosis went into maintenance mode, following a failed merger with Cosmos Hub. Polaris closed down. Kava (Lend, Mint & Swap) went into maintenance mode. Jackal closed. Akash are leaving. Leap Wallet closed. Stargaze closed, migrated to the Hub, and no-one cared. Stride never did find PMF. Liquid staking TVL has dropped to ~$5m. Nillion closed. Pulsar Finance closed. Omniflix closed. Milkyway closed. Toki closed. Dimension moved their liquidity to Solana. Penumbra closed. Pyth ending support for CosmWasm on 31st July. Bitsong migrating liquidity to Base. Pryzm closed. Axelar team acquired by Circle. Astroport went into maintenance mode, ending support for Neutron, Osmosis and Sei. Now only Terra supported. Nomic never did properly launch or make their token tradable (forever compounding). — Really shows how fast crypto moves. https://x.com/AirdropGlideApp/status/2074839741170683918

Uh oh. https://www.cnbc.com/2026/07/08/trump-says-iran-ceasefire-is-over-after-latest-round-of-strikes.html

Crypto cards are becoming more popular now with so many more on the market. But apparently one of it is facing some controversy: KAST crypto card. Apparently from getting an token from using the card to getting equity instead of an airdrop? Also read about…

Crypto cards are becoming more popular now with so many more on the market. But apparently one of it is facing some controversy: KAST crypto card. Apparently from getting an token from using the card to getting equity instead of an airdrop? Also read about people getting charged money for declined transactions as well. https://x.com/MikeSilagadze/status/2074241762583888312 Still an ongoing thing. I guess if you're using the card, just be wary of what's happening now.

OUSD, a new stablecoin is coming soon. Apparently backed by 140+ partners including Visa, Stripe, Mastercard, BlackRock, Google and Coinbase (and a lot more if you see the picture) This is gonna be big.

So we've seen Crypto prices dropping for awhile now, mainly due to the fact right now that AI is a hotter narrative than crypto. But to look at some facts too, institution has been selling BTC at a record rate too especially if you look at just the past 1 month. Of course, this wouldn't bode well for the BTC prices if so. Combined with the fact with the recent controversy about MSTR selling BTC (MSTR recently dipped below $100 per stock, having hit an all time high of $400+). Other thing is also STRC, which you can look at it as Microstrategy's way to raise more money to buy Bitcoin while giving a dividend yield (~11%) to the stock holders. Both stocks has come under fire due to the market conditions, especially with BTC cratering lower and lower this year. I guess time will tell whether MSTR will continue to survive this, or will it be another black swan event? Really hope not it's the latter though because going through one round of LUNA has been really rough for everyone.

The famous MEV bot Jaredfromsubway just got drained for $15m. In short, the attacker created fake wrapped tokens of the real tokens like WETH and USDT which was fWETH or fUSDT. Then set up liquidity pools that look profitable. Get the bot to 'test' the pool…

The famous MEV bot Jaredfromsubway just got drained for $15m. In short, the attacker created fake wrapped tokens of the real tokens like WETH and USDT which was fWETH or fUSDT. Then set up liquidity pools that look profitable. Get the bot to 'test' the pool and increase allowance enough for the attacker to strike to hit big. Crazy stuff every day in crypto. https://x.com/coinbureau/status/2068505193189396742 see more here: https://x.com/i/trending/2068440593827512577

If you've farmed the Layerzero airdrop with Stargate in the past, you might want to check the platform again. Apparently there's some USDC rewards for users. Not much for me, but may be more for you. So make sure to do a quick check for some free kopi money (or hopefully more for you) https://stargate.finance/stake

well, looks like the war has resumed as well. Not looking good on macro wise.

well, looks like the war has resumed as well. Not looking good on macro wise.

USDT flipping ETH in market cap 👀