BitMEX Down, BlockFi Hacked.

But at least one metric says BTC is undervalued

Happy Tuesday, Blockfolians

The Lede

It was a rough one this morning round cryptoland. First, BitMEX went down for more than an hour. This is days after a major lawsuit accusing money laundering and market manipulation against the firm.

That wasn’t the only bad news, however. BlockFi also announced that a hacker had SIM-swapped an employee’s phone and gained access to compromising user account data.

For some, it was another inevitable byproduct of the KYC regime.

Another good reminder that you can never be too careful out there.

Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.


Highly Relevant Reading


Community Commentary

Square’s bitcoin grant program is helping a project attempting to create a more decentralized protocol for bitcoin mining.
If you want to understand how bitcoin is being used around the world, Matt Ahlborg might be your best follow.

A Really Big Number We Should Be Paying Attention To 

$1,000,000,000

That’s the amount of sales of mining rigs NVIDIA tried to pass off as gaming revenue, according to a new lawsuit. Ouch.


Final Thought

Are walled gardens the future of podcasts?