The Ledger: User hacks Trezor wallet and Musk Calls out McDonald’s

After another full week of crypto, we have a few great stories to recap. The main story details how an engineer forgot his Trezor wallet password. He used 12 out of his 16 allowed hardware attempts before he decided to hack into the wallet.

Now, hacking into a hardware wallet is very hard, but luckily for the
engineer whose investment had grown to $2m since he originally
placed down $50,000 in 2018, he had been able to secure help from a talented hacker. Long story short, the funds were recovered. If you are reading this from a McDonald's outlet waiting on your order, you might be interested in finding out that Elon Musk is back at the DOGE
again. In the latest salvo of support, the maverick tech entrepreneur has called on America’s favorite fast-food chain, McDonald's, to start accepting DOGE as a viable payment method.

Taking to Twitter, Musk said: “I will eat a Happy Meal on
tv if @McDonalds accepts Dogecoin.” Twitter is a known medium for Musk when it comes to issuing opinions on the crypto market, which often end up swinging the market and setting it on a growth trajectory.

Uniswap founder, Hayden Adams, had a bad turn of fortune earlier
this week when he reported that JPMorgan Chase had frozen his crypto accounts without prior notice. Crypto regulation is changing quickly and such incidents are not new, but they have a somewhat reasonable explanation. Banks are skittish and even though Chase has been happy to take on crypto holdings and secure them for its clients, it has not always been willing to come through.
And, speaking of banks, Korea is now going ahead with Phase 2 of its CBDC pilot program. The country is another jurisdiction that has decided to pursue a more aggressive stance of adoption towards CBDCs, provided the pilot test goes well. Tether made headlines as well this week, announcing that it had recovered $87m in lost funds.
So, how is this possible? While this sounds like positive news on the face of it, there is a much more significant aspect of the news we ought to discover. Since peers are the only ones responsible for custodial actions, how is the network able to scoop up tokens? That is a good question, but it mostly comes from the fact that Tether is not truly centralized and has some control over tokens. This is great if tokens go missing, but what if the network is hacked? Well, this is a story for another week of crypto.

If you feel like playing with crypto this weekend, make sure to swing by Bitcasino1xBit or FortuneJack.

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Written by Alex

Reporter

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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