Not Optimistic For Optimism
I've already spoken previously about how L2 chains are a scam and I've had some backlash on my opinion as always, shitcoin hopium huffers never want to look at the obvious shortcomings, they just want to focus on price. It's always about price and when you hear more about price than risk, you know you're getting sold to and you're the product.
While bitcoin has actual layer 2 solutions that use the native asset, Ethereum opportunists are spinning up competing chains and calling it layer 2 to get you to use their chain so they can extract value out of those who have been priced out of using Ethereum proper.
Optimism is one of several ETH 2 layers, along with the popular Polygon, that claims they can off-load some of the asset management from ETH to their even more centralised service.
I honestly don't see how anyone who is not a gambler will put up with this nonsense of wrapping your assets on another chain, buying a new native token to use it, and chasing yield. It sounds like a full-time job where you'll always come out second best because each system has its own overlords looking to rent-seek from the walled garden they've spun up to mirror Ethereum.
Should have been called pessimism
To illustrate the stupidity of layer 2 ETH projects, gosh I am not even kidding here, the compnay behind it prepared a native token scam as always called OP token, and then set up a DAO to manage these tokens. However, the genius super coders running this shit show accidentally sent 20 million tokens to the wrong blockchain address.
You see when it comes to these ETH second layers, they pretty much run on ETH's structure with wallet addresses and private keys to match, so if you have an ETH wallet, you can enable it on these other chains and it will look, feel and interact the same.
So when the address not yet created received the funds, someone could create a private key to claim that address on any EVM chain and then just sync it with other RPCs talking to that other chain and claim tokens associated with that address.
The cost of being stupid
Within 24 hours of Wintermute relaying their discovery to Optimism, an anonymous user was able to spin up a private-public key pair attached to the yet-to-be-created address and seize all 20 million OP tokens from the Ethereum address.
The stolen OP tokens were valued at $35 million at the time of the cock up.
The user who was smart enough to secure the funds then sold off one million OP tokens for ETH, and retained the other 19 million. They then went silent, and haven’t been heard from since.
And good for him, he saw someone doing something stupid and he or she kicked them in the teeth for it. Who knows? it could even just be an internal user close to the project who wasn't happy with their current compensation and found a way to secure a fat pay day.
Wintermute has committed to buying back all the tokens and eating the loss, providing a price floor for the user to dump into instead of letting him dump the token price.
So much for governance and decentralisation am I right?
Sources:
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Watch out for the human traffickers at hivefest. You wont know it until its too late. STAY AWAY! Beware, traffickers can be women or men! They will act nice until they dont. There is human trafficking going on around this type of crypto. I have witnessed it. They literally have attempted my murder and are trying to kill me with V2K and RNM. Five years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism ..... https://ecency.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem if you run into one of them you may want to immediately shoot them in the face. 187, annihilate, asphyxiate, assassinate, behead, bleed, bludgeon, boil, bomb, bone, burn, bury, butcher, cap, casket, choke, chop, club, crucify, crush, curb, decapitate, decimate, deflesh, demolish, destroy, devein, disembowel, dismember, drown, electrocute, eliminate, end, euthanize, eviscerate, execute, explode, exterminate, extinguish, finish, fry, grind, guillotine, gut, hack, hang, hit, ice, implode, incinerate, kill, liquidate, lynch, massacre, maul, microwave, mutilate, neutralize, obliterate, off, pop, poison, punnish, quarter, ruin, shank, shock, shoot, shred, skin, slay, slaughter, smoke, smother, snipe, snuff, squish, stab, strangle, stone, suffocate, suicide, SWAT, swing, terminate, torture, terrorize, whack, waste, wreck. You better fucking kill me.
Watch out for the human traffickers at hivefest. You wont know it until its too late. STAY AWAY! Beware, traffickers can be women or men! They will act nice until they dont. There is human trafficking going on around this type of crypto. I have witnessed it. They literally have attempted my murder and are trying to kill me with V2K and RNM. Five years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism ..... https://ecency.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem if you run into one of them you may want to immediately shoot them in the face. 187, annihilate, asphyxiate, assassinate, behead, bleed, bludgeon, boil, bomb, bone, burn, bury, butcher, cap, casket, choke, chop, club, crucify, crush, curb, decapitate, decimate, deflesh, demolish, destroy, devein, disembowel, dismember, drown, electrocute, eliminate, end, euthanize, eviscerate, execute, explode, exterminate, extinguish, finish, fry, grind, guillotine, gut, hack, hang, hit, ice, implode, incinerate, kill, liquidate, lynch, massacre, maul, microwave, mutilate, neutralize, obliterate, off, pop, poison, punnish, quarter, ruin, shank, shock, shoot, shred, skin, slay, slaughter, smoke, smother, snipe, snuff, squish, stab, strangle, stone, suffocate, suicide, SWAT, swing, terminate, torture, terrorize, whack, waste, wreck. You better fucking kill me.
Why the Devs did not try to create that account themselves or who know this account is with Dev team.
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This is what happens when you want to start your own currency and think you're smarter than satoshi lol you get humbled. Bitcoin is the king so if you're planning to take a shot at it, you best not miss
Another internal scam?
I am leaning towards it yes, but I don't have evidence, I mean the level of incompetence in how it happened is criminal enough, it could just be down to negligence and people with too much money playing with tech they don't fully understand
Hopium is a hell of a drug man! Lol
Damn that’s a hell of a nice payday for that person! Definitely got a kick in the teeth for that one.
Posted Using LeoFinance Beta
Lol and they do this shit in bull markets, now with the cascading liquidations all these retards are getting exposed and rekt