Vivek Ramaswamy, former biotech CEO and U.S. presidential candidate, dives into the evolution of crypto hacks and negotiation tactics with seasoned negotiator Ogle. They unpack the KyberSwap exploit, revealing how nearly $50 million was lost across blockchains. Ogle shares his journey in tracking hackers and his empathetic approach to dealing with them. The discussion also touches on the regulatory landscape impacting innovation in digital assets and the rising challenges in balancing user freedom with accountability.
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insights INSIGHT
Crypto's Challenge to the Administrative State
Vivek Ramaswamy's interest in crypto stems from its potential to challenge the administrative state.
He believes crypto offers an opt-out from the current system, holding it accountable.
insights INSIGHT
The Administrative State as a Fourth Branch
Ramaswamy argues that the administrative state operates as a fourth branch of government, hindering innovation.
He believes it consolidates legislative, executive, and judicial powers unconstitutionally.
volunteer_activism ADVICE
Restructuring the Federal Bureaucracy
Vivek Ramaswamy plans to reduce the federal bureaucracy through mass layoffs, not individual firings.
He believes this approach avoids legal challenges of political retaliation.
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Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze
Laura Shin
The Cryptopians delves into the story of idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses. The book focuses on the founding of Ethereum by Vitalik Buterin and the subsequent crypto fever it created. It introduces readers to larger-than-life characters such as Buterin, Charles Hoskinson, and Joe Lubin, highlighting the personal and professional conflicts that shaped the early days of Ethereum. The narrative explores the booms, busts, and internecine wars within the crypto world, revealing it as a deeply personal struggle to influence the coming revolution in money, culture, and power.
Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, the gang sits down with Ogle Crypto, a veteran negotiator in crypto hacks, to discuss the recent KyberSwap exploit, which involved an almost $50 million loss across various chains.
Ogle shares how he initially became a negotiator, including his first case in which he tracked down a group of hackers from Hong Kong when they fled to Great Britain after stealing $24 million in funds. Ogle also shares his negotiation tactics, the typical profile of hackers he encounters today and his empathetic approach towards these often young and financially struggling individuals.
Then the group raises concerns around the hype and marketing strategies of Blast, a new Layer 2 on Ethereum offering “native yields” that achieved $620 million of TVL in less than two weeks.
How KyberSwap's sophisticated security was breached, resulting in an almost $50 million loss across various blockchain networks.
Why Tarun suspects the behind-the-scenes workings of an organized group, rather than a lone attacker, in the KyberSwap incident.
The evolution of crypto hacks towards more systematic and professional negotiations with hackers.
Ogle's journey into the world of crypto hack negotiations, highlighted by a fascinating case of pinpointing hackers who had fled Hong Kong.
Ogle's strategic approach to negotiating with hackers, balancing empathy and tactical communication.
Profiling the typical hackers in these scenarios, focusing on their youth, origins, and backgrounds.
Ogle's perspective on why he often finds a sense of understanding towards these young, misguided hackers.
Assessing the crypto industry's response to white hat hackers: Are they adequately rewarded for safeguarding the digital frontier?
The curious surge of investments into Blast, Ethereum's new Layer 2 contender, amidst swirling concerns and skepticism.
Robert's take on why the Blast phenomenon could signal a troubling trend, surpassing the chaos of 2017, paralleled by Tarun's analogy to a “decentralized Herbalife.”
Were Blast’s marketing tactics misleading or merely overly optimistic?
Unchained 
