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Discords and X threads aren’t fooling investors anymore. Web 3.0 founders must look towards AI to survive. Web 3.0 founders have to pivot.

The AI (artificial intelligence) industry has demonstrated itself to be far more apt at innovating than Web 3.0, which as an industry must accept defeat in a way and reorganize.

It would behoove AI founders to take a page out of the book of big AI companies, which have impacted lives and scooped up a big market share in short order – leaving crypto very much in the dust when it comes to the mindshare of crypto in the global consciousness versus AI.

Web 3.0 founders must ask themselves, ‘What can we learn?’

As AI becomes more powerful, and it will do so quickly, Web 3.0 will quickly become a subservient industry, dependent upon the whims of the almighty big technology corporations in control of AI technology.

Web 3.0 will likely only become lucrative and impactful by partnering with AI companies.

Web 3.0’s decentralization, which has resulted in thousands of projects promising all sorts of decentralized versions of apps that already exist, has led to the general public – including investors – not understanding which projects are for real.

Investors simply don’t know which projects can achieve results or are even offering a solution to a real problem.

DAOs, DeFi protocols and metaverse land rushes are largely a cacophony of Discord servers, Telegram groups and X threads.

For many Western investors, these business models are completely foreign. The business models of AI companies, including startups, are far more familiar.

In addition, Web 3.0 has gained a bit of a reputation for being associated with hype and scams.

The AI industry, on the other hand, has forged a clearer path towards deals that make a difference.

AI companies aren’t shilling tokens based on future promises, writing convoluted whitepapers and posting endlessly online.

They’re building groundbreaking technology from the ground up. In the AI industry, the cream has risen quickly to the top.

The world knows that it is companies like xAI, OpenAI, Google and others that dominate the marketplace.

Investors know that real innovation doesn’t come from a 10,000 NFT (non-fungible token) collection. BlackRock will tokenize bonds, not NFTs.

Partners want to make deals with the AI behemoths building out the world-changing infrastructure, such as cloud providers, chipmakers or platforms like xAI’s Grok, which has revolutionized the way in which humanity seeks out information.

Unfortunately for those of us in the Web 3.0 space – for now at least – these companies are building the future, not Web 3.0 startups.

Centralization is winning the day over decentralization. The fragmentation in Web 3.0 – the fierce competition over so little – is not nearly as appetizing to investors and strategic partners as AI monopolies.

Web 3.0 companies should start looking to partner with those companies sitting on a vast GPU supply or a proprietary data organization.

These are the companies – the ones that control algorithms – getting inventor funds.

A new way forward for crypto

Web 3.0 founders are left with no other option than to pivot. The industry has to face it and move towards a new strategy.

Big money has found it difficult to navigate the decentralized web of Web 3.0 companies.

Instead, centralized powerhouses are the ones building the future, and they could step into the crypto arena at any time and potentially outcompete crypto native incumbents.

It’s time for crypto to move on from its messaging chat and X strategy, as well as the promises of decentralization, and start working the phones to get into the boardrooms of Fortune 500 companies touching technology.

It’s high time to deliver.

The idealism of Web 3.0 is proving not to mesh with reality. The quest for decentralization, ownership and democratized value creation has stalled.

In the future, Web 3.0 might further fragment.

The biggest blockchains, such as Ethereum and Solana, will begin to pin their fates on centralized solutions, increasingly looking like the tech gatekeepers they once billed themselves as disrupting.

The blockchains of tomorrow will exist as integrations into the traditional financial and technology giants, which are looking for supply chain tracking and similar solutions.

For the blockchain world, these solutions are the quickest way to real-world utility and a monopoly.

The more lofty solutions, such as decentralized data storage, are not making much progress when it comes to market share.

Memecoins, redundant DeFi protocols and incomplete metaverses are already suffering under the strain of zero sum competition between one another.

There is no crypto community. The incestuous strategic partnerships of crypto projects with each other have resulted in limited innovation.

It’s time for Web 3.0 founders to make a change. Billion-dollar partnerships are made via access to C-Suites of the world’s biggest companies – not in the world of hashtags or virtual land.

The Web 3.0 companies that don’t adapt to the fact that Web 3.0 has fallen far behind the AI industry in terms of innovation won’t be around for long.

Manouk Termaaten is the founder and CEO of Vertical Studio AI. He is a serial entrepreneur and expert in AI technologies, aiming to make AI accessible for everyone via customization tools and affordable computers.

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Generated Image: Midjourney

The blockchain ecosystem is not restricted to tech experts anymore. It has emerged as a rapidly evolving landscape with new possibilities for innovation and numerous career opportunities. Anyone who wants to start their career in crypto might end up thinking that it is beyond their reach when they don’t find the right guidance.

On the contrary, awareness of the different career options in crypto and skills required for popular blockchain jobs can help you find a way into the industry. You can notice immense potential for growth and innovation in the blockchain industry with the rise of NFTs, DeFi, metaverse platforms, and web3 solutions. Let us find out the important skills that you must have to break into crypto careers.

Build your identity as a certified blockchain expert with 101 Blockchains’ Blockchain Certifications designed to provide enhanced career prospects.

Where Do You Begin The Break In?

You have planned to break into the crypto industry and grab one of the best jobs according to your preferences. Most of the answers to “What careers are there in crypto?” will showcase a common set of roles. Irrespective of the role you want to pursue, you must have in-depth knowledge of some core concepts. What are the basic skills that you should learn to begin your blockchain career?

You should begin by learning about the fundamentals of blockchain technology and how it works as an immutable and decentralized ledger. The other aspects of blockchain technology that you must cover at this stage include consensus mechanisms, smart contracts, and the difference between different types of blockchain networks. Beginners must grasp the concept of decentralization and its implications for different industries.

Another set of basic skills that you must gain to break into the blockchain industry includes understanding of cryptocurrency and cryptography basics. You need comprehensive understanding of the fundamental concepts of cryptocurrencies, such as private key management and wallets. On top of it, basics of cryptography, including topics like digital signature, encryption, and hashing, help you learn how blockchain offers security in trustless environments.  

Exploring Different Career Opportunities in Blockchain 

With a clear impression of the basic skills required for any role in the blockchain job market, you can identify the job that you want the most. Interestingly, you won’t fall short of options to start a career in blockchain, with roles available in many other areas. Many beginners assume that the only way to have a blockchain career is through becoming a blockchain developer or engineer. In reality, you can pursue career options in different areas as a blockchain professional.

The notable areas where you can find job opportunities in blockchain include security, data analysis, trading, product management, and data analysis. You can also become a legal consultant or business development executive for blockchain companies. Blockchain professionals can also discover prospects to work as marketing professionals in the crypto community or design creative interfaces for dApps. Beginners should learn about all the career options in blockchain to choose the role that appeals to them.

Start learning Blockchain with World’s first Blockchain Career Paths with quality resources tailored by industry experts Now!

Technical Skills Required for Blockchain Careers

You cannot ignore the need for technical skills to work in some of the most popular blockchain jobs. The technical skill requirements will vary according to the role that you choose for your career. Let us find out the most essential skills that you will need for top roles in your blockchain career.

You must know that most of the blockchain training programs focus on preparing candidates for blockchain development. How? You can notice lessons on smart contracts, dApps, and blockchain architecture in almost every training course. The topics are the most useful skills required to become blockchain developers. You must also learn about programming languages required for blockchain development, including Solidity, Python, Rust, and JavaScript.

The technical skill requirements for blockchain developers also include smart contract development and auditing. You should also learn about in-depth understanding of blockchain architecture and workflows to develop dApps. Aspiring blockchain developers must also learn about layer 2 scaling solutions to create innovative Web3 solutions. 

Create new, high-level, innovative blockchain solutions for different industries as a highly-skilled blockchain developer with a Blockchain Developer Career Path.

• Crypto Analysts and Traders

The next notable role that you can pursue for blockchain careers is that of a crypto analyst or trader. You would need a special set of crypto skills including comprehensive understanding of market dynamics. As a crypto analyst, you have to review crypto news, market sentiment, regulations, and crypto prices. The next important skill for a crypto trader or analyst is technical analysis that requires reading charts and identifying patterns to predict price movement.

Crypto traders and analysts must also learn about DeFi protocols such as decentralized exchanges, DeFi applications, yield farming, and lending protocols. The other skills you need for crypto trading include familiarity with data analysis tools and risk management strategies. 

• Blockchain Security Experts

You can also pursue jobs as blockchain security experts to enjoy a lucrative career path in the domain of blockchain. The top crypto courses that prepare you for roles in blockchain security focus on smart contract security auditing and cryptography. Smart contract security auditing empowers professionals to identify vulnerabilities with a comprehensive understanding of security risks in blockchain networks.

The biggest area of focus that you need for blockchain security roles is cryptography. You should know how cryptographic principles work and how you can use them in blockchain security. The job of a blockchain security expert also calls for skills in penetration testing and incident response. As you encounter new challenges to blockchain security, you must prepare for new approaches to address them. 

Start your journey to becoming an expert in Web3 security skills with Web3 Security Expert Career Path

Non-Technical Skills Required for Blockchain Career

The emphasis on technical skills for a career in crypto can never undermine the significance of non-technical or soft skills. You must learn about economics and finance to understand how crypto intersects with finance. The soft skills required for a career as a blockchain professional also include adaptability, willingness to learn, critical thinking, and communication skills.

As a blockchain professional, you will also need the ability to build communities and ensure engagement of all members. On top of it, the list of soft skills for blockchain jobs also focuses on regulatory awareness and understanding of the crypto culture. 

How Will You Acquire the Skills Required for Blockchain Jobs?

The outline of important technical and soft skills required for blockchain jobs reveals exactly what you need to break into crypto careers. However, you must have the dedication and willingness to invest your time and efforts in learning about blockchain and its implications. The best way to start your learning journey is through crypto courses that offer comprehensive lessons to earn relevant skills. Some of the popular platforms, such as 101 Blockchains, offer training courses and certifications trusted by thousands of professionals. You can use their professional courses to learn about different topics, including smart contract development, crypto compliance, and NFTs.

While many people assume that training courses will be enough to learn essential skills, you need something more for blockchain careers. The most effective approach to learn how to work as a blockchain professional is to act as one. During your preparations for blockchain jobs, you must acquire crypto skills through practice and involvement in open-source projects. You must create simple dApps, NFT projects, or DeFi protocols to test your skills and knowledge. The hands-on experience earned through such projects will elevate your profile. Another valuable suggestion to improve your hands-on experience involves participating in hackathons that allow you to build and learn with other participants.

Build your identity as a certified blockchain & web3 expert with 101 Blockchains’ Blockchain & Web3 Certifications designed to provide enhanced career prospects.

Special Suggestions to Strengthen Your Foundation 

The skills and knowledge to work in blockchain jobs, along with hands-on experience, can make you a valuable asset in the blockchain job market. However, it is also important to make the foundations of your career stronger. What more can you do to become a blockchain professional? Training courses, certifications, and hands-on exercises are only a part of the journey for a blockchain professional. 

Interacting with the crypto community on X, Discord, and Telegram is one of the proven ways to build your credibility. You can express your opinions in the community, ask questions or participate in discussions, improving your knowledge along the way. Candidates must also read the whitepapers of top cryptocurrencies alongside the official documentation of different blockchain protocols. As a result, you can gain in-depth insights into blockchain technology. 

The next crucial suggestion to build a strong foundation for your blockchain career focuses on staying updated with the industry. You must know about latest technological advancements, regulatory changes and new developments in the industry. Furthermore, you should also consider investing efforts in networking and building your resume to increase networking opportunities.            

Final Thoughts 

The process to break into a career in blockchain and crypto requires a multi-step approach. You must acquire the important skills through blockchain training courses and prove them with certifications to gain the attention of employers. The industry is evolving consistently, and professionals dedicated to continuous learning can have better chances at success. It is important to remember that you must have a mix of technical and soft skills to pursue the blockchain jobs that you want. At the same time, you cannot miss the other crucial pointers such as networking, staying updated with industry news, and learning through hands-on experience.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

The following is a guest post from Michael Egorov, Founder of Curve Finance.

The recent Bybit hack saw a grand total of $1.5 billion lost in crypto assets and has become the biggest hack in the entire history of this industry. The thing that makes this breach particularly concerning is that hackers targeted Bybit’s cold storage — typically the most secure part of an exchange’s infrastructure. 

While Bybit moved quickly to replenish its reserves with the help of partners, the whole event still left many people shaken up. This situation once again raises security concerns. How vulnerable are crypto exchanges and what lessons should the industry take from this breach?

The Growing Risk to CEX Platforms

The way I see it, this incident is more than just another attack — it’s a wake-up call exposing the systemic security flaws of centralized exchanges. Despite implementing strict security measures, CEX platforms remain prime targets for hackers. Why? Precisely because of their centralized nature.

Unlike in DeFi, where user funds are distributed across self-custodial wallets, centralized platforms store assets in a controlled infrastructure. This creates a possibility of a single point of failure, where breaching a single layer of security can give attackers easy access to vast amounts of funds. After that, it’s pretty much over. Any recovery of funds has to rely on centralized oversight, assistance of external agents and sheer luck.

Chainalysis report clearly shows that in 2024, centralized services were the most targeted, marking a notable shift from DeFi hacks to CeFi. This is further confirmed by Hacken’s data that CeFi breaches more than doubled in the previous year, leading to the loss of almost $700 million. Access control vulnerabilities were highlighted among the primary causes of breaches.

This confirms that exchanges need to rethink their approach to security.

DeFi’s Alternative Take on Asset Safety

The good thing about DeFi platforms is that their very nature minimizes the risks we covered above. Instead of relying on a centralized infrastructure, DeFi protocols leverage smart contracts and cryptographic security mechanisms to protect assets. This eliminates the possibility of centralized points of failure — there’s no single entity that can be exploited to drain user funds.

However, it should be noted that DeFi isn’t without risks of its own. Since it operates in a permissionless environment, hackers are always present. And since transactions are irreversible, the only true protection is flawless code. Poorly written code can lead to vulnerabilities, but if there are no errors, then hackers can’t take advantage of them to break in.

Hacken’s 2024 security report indicates that smart contract exploits accounted for just 14% of crypto losses in 2024. This is why I believe that smart contract audits are essential to ensure the highest possible security standards.

AI in Cybersecurity: A Double-Edged Sword

Since artificial intelligence is becoming a more heated topic every day, there are many in the crypto market who wonder what role it will play in security. So I’m going to offer my two cents on the subject.

First of all, AI tools have not yet been developed to the point where they would be effective in such tasks. But when they come around to that level, it is very likely that they will be effective.

Properly developed AI tools can potentially be highly useful when it comes to simulating and analyzing the execution of smart contracts. In other words, they can help detect vulnerabilities in smart contracts, allowing developers to patch security holes well before hackers come knocking. 

Automated testing and AI-assisted audits can also significantly enhance security standards, making both DeFi and CeFi systems more robust. But it would be wise not to rely completely on artificial intelligence in such matters – even this tech can miss things.

At the same time, AI tools can also be weaponized by hackers to scan systems and identify flaws to exploit faster than ever before. This will inevitably mean an arms race between security teams and hackers where platforms will have to constantly stay one step ahead.

And the one thing I would absolutely advise against is using AI to write the actual smart contracts. Given the current level of development of this technology, AI-written code cannot yet match human developers in quality or security.

What Should Crypto Exchanges Do Next?

By now, all centralized exchanges implement industry best practices, such as multisignature wallets and other security protocols. However, as the Bybit hack has shown, these measures don’t seem to be enough on their own.

CEXs inherently create centralized points of failure. While they should be highly secured, they remain single points of attack, making them attractive targets for hackers. One potential solution to this problem could be introducing user-controlled wallets with extra layers of oversight managed by the exchanges. However, it is also well-known that self-custody and key management is extremely inconvenient for most users. So that’s not a particularly safe approach.

In that case, what can exchanges do differently on their side of things?

First of all, we need to recognize that many security mechanisms used by these platforms today, including multisignature wallets, rely on Web 2.0 technologies. This means that their security depends on not just how robust the smart contracts are, but also on the safety of web-based frontends. The UIs that users interact with and through which those smart contracts are accessed.

Issues in frontend security can undermine the entire system, if hackers find a way to compromise it. But ensuring security here is a challenge and a half. Web applications often rely on thousands of dependencies (Uniswap’s UI, for example, has over 4,500), all of which represent a potential attack vector. If even one of these dependencies gets compromised, hackers could inject malicious code into the interface without ever needing to attack the core system.

As such, developers must ensure that not only their own code is safe but also every piece of software their platform depends on.

A good solution would be for large exchanges to use self-hosted Web UIs. They do exist, including for the Safe wallet, in particular. An even better option would be to use specially designed software that bypasses traditional web technologies altogether when interacting with smart contracts. For example, there is an official CLI tool for Safe wallets, which significantly reduces the number of dependencies (by a factor of about 100), bringing down the risk of supply chain attacks.

Additionally, all signing for high-value transactions should be conducted on isolated machines used exclusively for this purpose and nothing else. Doing so minimizes the risk of the human factor playing a role in compromising the signing infrastructure with malware. Another approach could be leveraging containerized operating systems like QubesOS — they are quite exotic at the moment, but do offer enhanced security as part of their design philosophy.

And, of course, while hardware wallets are the standard practice that everyone uses, when high-value transactions are involved, it is critical that exchanges implement mechanisms to verify what, exactly, these wallets are signing. Currently, hardware wallets do not make this task easy, but there are tools available in the market that can assist in verifying transaction data before execution.

All in all, implementing any of these measures is no simple feat — this is a truth that has to be acknowledged. Perhaps the industry as a whole needs to establish formalized security recommendations or even develop specialized operating systems tailored for safe interaction with crypto out of the box.

But it is also true that without significant upgrades to security infrastructure, the risks posed to CEXs will only continue to grow.

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February 28th What did we learn after 10 years of lightning network?

Bitcoin’s leading layer 2 solution, Lightning Network celebrates its 10th anniversary as a transformative tool to enable bitcoin scaling and fast, low-cost transactions. Developed to address the challenges of Bitcoin’s scalability, this network allows for off-chain payments, making Bitcoin suitable for everyday use. At Bitfinex, we are the pioneers, and its early adoption will drive its growth and demonstrate the real-world possibilities of diverse applications such as micropayments, social media shifts, and cross-border remittances. El Salvador’s Bitcoin adoption is powered by a circular economy like the lightning-capable Tibo Wallet and Bitcoin Beach, highlighting its real-world impact. As lightning continues to evolve with advances in scalability, privacy and ease of use, we are poised to solidify Bitcoin’s role as a global financial system.

10 Years of Lightning: A Brief Overview of Bitcoin Premier Layer 2

Bitcoin Lightning Network is a two-layer protocol built on top of Bitcoin’s Layer 1, which drives faster and more cost-effective transactions. As the base layer struggles to process many transactions simultaneously, it is designed to address the challenges of Bitcoin scalability, leading to delays and high fees during periods of heavy network congestion. By creating a secondary layer that allows you to carry out off-chain transactions, Lightning Network offers a way to use Bitcoin for daily transactions without compromising decentralization or security.

The Lightning Network was developed to overcome the limitations of the original design of Bitcoin. This allows you to only process around 7 transactions per second. This limited throughput made it impractical for Bitcoin to act as a medium for small and frequent payments, such as coffee purchases and digital services payments. Networks have been introduced to enable faster and cheaper transactions by reducing the burden on the main blockchain, thus improving the ease of use of Bitcoin as a daily currency without compromising its role as a secure store of value. The Lightning Network is Bitcoin’s only true layer 2 solution, allowing decentralized, fast, non-obligatory, and low-cost payments with one-sided exit options, allowing users to retain full control of their funds without relying on third-party custody.

The Lightning network works through the creation of payment channels between users. These channels allow participants to trade off-chain and each other, with only opening and closing channels recorded on the Bitcoin blockchain. The payment channel in the Lightning network works by locking a certain amount of Bitcoin to a multi-signature address, allowing two parties to perform off-chain transactions by updating the shared balance state, and only the final state is recorded in the Bitcoin blockchain when the channel closes. Within a channel, an unlimited number of transactions occur almost instantly and can occur at a minimum cost. When the channel is closed, the final result of all transactions is written to the blockchain. This mechanism significantly reduces the congestion and fees of the main Bitcoin network while maintaining a similar level of security, censorship resistance and autonomy.

The Lightning network improves Bitcoin scalability, reduces transaction fees, and increases payment speeds, but there are limitations. Channel setup and management requires technical knowledge, and networks can combat large or complex payments due to the liquidity constraints of specific channels. Furthermore, the requirement for both parties to come online for transactions to take place poses a potential usability challenge. Despite these limitations, Lightning networks are particularly suited for applications such as microtransactions, cross-border payments, content creator chips, streaming payments, or the likelihood of instant retail transactions. This represents an important step to making Bitcoin more versatile and accessible to real digital commerce use cases.

See the history of Bitcoin’s Tier 12 Global Payment Network

The Lightning network was first proposed in 2015 by Joseph Poon and Thaddeus Dryja. The white paper outlined the vision of scaling Bitcoin through a second layer solution. The aim was to address the issue of scalability in Bitcoin. This limited the number of transactions that a blockchain could process per second. By creating an off-chain network of payment channels, Lightning has promised faster, cheaper transactions while maintaining the security and decentralization of the Bitcoin blockchain. Early prototypes and implementations by Lightning Labs, ACINQ and Blockstream laid the foundation for a new era of Bitcoin’s ease of use, focusing on small and frequent transactions.

In December 2019, Bitfinex was the first major Bitcoin exchange to integrate the Lightning network, playing a pivotal role in early adoption. Users can now deposit and withdraw Bitcoin via lightning, significantly reducing transaction fees and processing times compared to on-chain transactions. The move not only provided a real-world demonstration of practical utility in Lightning networks, but also encouraged other exchanges and wallet providers to follow suit. Our early adoption helped us build confidence in lightning, scale Bitcoin and showcase the possibilities of fostering an ecosystem of users and developers.

Since its launch, the Lightning network has experienced significant growth in both adoption and technological advancements. By 2025, the network capacity had increased significantly, with more nodes and channels being created every day. Lightning Network enhances innovative micropayment use cases such as Nostr’s “Zaps” for social media chips, Podcasting 2.0, Wavlake “Boost” and streaming payments, allowing listeners to directly support podcasters and musicians with seamless, instant, and low-cost transactions. Companies like Strike and Cash App are consolidating lightning bolts to promote instant and low-cost Bitcoin payments around the world, while developers continue to improve the functionality, security, and user experience of the protocol. Innovations such as Atomic Multipath Payments (AMPS) and enhanced channel liquidity management address some of the early limitations of the network, making them more robust and reliable for a wider range of applications.

Going forward, Bitcoiner can expect the Lightning Network to play a central role in the evolution of Bitcoin as a global payment system. With increasing institutional interest and increasing integration into traditional financial systems, Lightning is poised to further enhance the utility of Bitcoin for micropayments, remittances and even decentralized applications. Developers are working on solutions to improve routing, privacy and scalability, making lightning more accessible and efficient. As adoption accelerates, networks are set to bridge the gap between Bitcoin as a store of value and its potential as a widely used medium of exchange, solidifying its role in the broader financial ecosystem.

Drivers behind the economy based on Bitcoin adoption in El Salvador

The Lightning network played a pivotal role in El Salvador’s groundbreaking Bitcoin adoption, serving as the backbone of fast and low-cost transactions that made Bitcoin practical for everyday use. When El Salvador declared Bitcoin’s legal currency in 2021, the government launched Chivo Wallet, a state-backed Bitcoin wallet designed to utilize lighting networks with immediate zero-cost payments. Chivo ATMs are installed nationwide, allowing users to seamlessly deposit funds, and the Lightning network has enabled transactions to scale efficiently to meet the demands of the new population of cryptocurrency.

A prime example of Lightning’s impact can be seen at Elzonte, also known as Bitcoin Beach, where Bitcoin’s circular economy flourished. Bitcoin Beach has set fire to the first fuse that influenced El Salvador President Naive Bukere’s national Bitcoin policy. This coastal community has pioneered the use of Bitcoin for daily trading. Merchants and residents rely on lightning networks to pay for goods and services, from groceries to surf lessons. The success of Bitcoin Beach is a model for similar initiatives across the country, demonstrating the practicality of Bitcoin as a medium of exchange in regions where access to traditional financial services is limited.

Another hub for Bitcoin adoption in El Salvador, the Lightning network has enabled similar conversions in Berlin. Local businesses and residents use lightning to trade goods and services, promote financial inclusion and reduce their reliance on cash. These grassroots initiatives highlight Lightning’s ability to promote real-world use cases and promote Bitcoin adoption at the regional level. As El Salvador continues its Bitcoin experiments since 2025, the lightning network could remain central to expanding merchant adoption, supporting the circular economy, and demonstrating the utility of Bitcoin as a transformative financial tool.

The upcoming Torogoz Dev graduation ceremony is a key milestone for nonprofits, focusing on training Salvadoran students in the development of the Lightning Network and linking them to employment opportunities in El Salvador’s growing Bitcoin and crypto ecosystem. As part of the graduation project, students developed “Torogoz Pay,” a lightning integrated payment gateway designed to split payments across the production chain. For example, when a customer purchases a product such as a $5 coffee bag, payments are distributed in real time to individuals involved in the production, such as farmers, roasters, packagers, and more, with instant payment installments sent directly to the lightning wallet. This innovative system not only promotes transparency and equity in payments, but also could serve both local and international markets. The graduation cohort of six individuals, including one woman, currently has skills in Lightning Node Management, System Setup and Software Development, contributing to the vision of becoming El Salvador’s global Bitcoin hub.

Do you have a Lightning Network wallet?

Download Blink Wallet to Android

Download Blink Wallet to iOS

Blink Lightning Network Wallet offers a streamlined, accessible way to manage Bitcoin, providing fast setups and user-friendly features. This app can be downloaded from the Google Play Store for Android devices or from the Apple App Store for iOS. Once installed, users can quickly set up their wallets either starting with a trial account or by registering with email and phone numbers for extensions and security. Blink supports seamless, instant Bitcoin transactions via Lightning, offering unique “stable” functionality. This reduces price volatility by allowing users to maintain a stable USD value along with Bitcoin.

Focused on ease of use, Blink includes features such as account abstraction for cheap and instant payments, robust security options such as two-factor authentication, and built-in educational resources to help new users acquire Satoshis and learn about Bitcoin. Merchants can benefit from tools such as lightning registers and lightning addresses, but users can explore merchant maps to find companies accepting Bitcoin. These features make Blink a versatile tool for both personal and business use, deploying it as an accessible and practical Bitcoin wallet solution for lightning bolt networks.

]]> https://earlybirdsinvest.com/what-did-we-learn-after-10-years-of-lightning-network/feed/ 0 22694 https://earlybirdsinvest.com/what-can-you-learn-from-bibit-hacks/ https://earlybirdsinvest.com/what-can-you-learn-from-bibit-hacks/#respond Fri, 28 Feb 2025 20:43:42 +0000 https://earlybirdsinvest.com/what-can-you-learn-from-bibit-hacks/

February 28th What can you learn from Bibit Hacks?

Bybit Hack, the largest cryptocurrency theft in history, manipulated the approval of the exchange with the $1.46 billion theft stolen through malware, identifying the North Korean Lazarus group as the perpetrator. Hackers have quickly washed funds using encrypted services such as decentralized exchanges, cross-chain bridges and tornado caches, obscure trucks, and complicated recovery efforts despite blockchain forensic companies frozen some assets. Beyond this case, authorized entities and cybercriminals are attempting to leverage cryptocurrencies to bypass financial management to fund illegal activities through anonymous transactions and No-KYC platforms. Cryptocurrencies provide economic sovereignty and resistance to censorship, but their roles are destroyed by bad actors who use them to promote illegal finances, present ongoing challenges to governments, and emphasize the difficulty of reverse the profound financial destruction introduced by blockchain technology.

Overview of the biggest hacks in history

On February 21, 2025, BYBIT, the world’s second largest cryptocurrency exchange based in Dubai, suffered a major security breaches, resulting in the theft of approximately $1.46 billion worth of digital assets. The attack reportedly was carried out using sophisticated forms of malware that manipulates the bibit transaction approval process, allowing for unauthorized transfers to external wallets controlled by the perpetrator. The incident marks the largest crypto theft ever recorded, surpassing previous well-known infringements, both in the cryptocurrency and the broader financial industry.

Blockchain security companies, including Elliptic and Arkham Intelligence, have attributed the attacks to Lazarus Group, a cybercriminal organization linked to North Korea. The group has a well-documented history targeting cryptocurrency platforms, and has stole billions of dollars in digital assets over the years. Following the established washing patterns, the attackers quickly converted stolen ether (ETH) into Bitcoin and other cryptocurrencies. The funds were then distributed to multiple wallets, leveraging decentralized exchanges (DEXS), cross-chain bridges, and other obfuscation techniques to hamper tracking efforts.

The scale of the attack has sparked concerns over security vulnerabilities within some centralized cryptocurrency exchanges. A key factor that enabled the exploit was the compromise of Bibit’s multi-signature wallet system through attacks in which signers deceived signers to approve fraudulent transactions. Precautions that may mitigate violations include stricter access control, enhanced authentication protocols, improved monitoring of transaction anomalies, and the use of multiple air-suppressed cold storage for high-value assets. Keeping $1.4 billion in Ethereum in one wallet can be considered a key center of failure. Furthermore, more stringent cybersecurity training for employees handling critical transactions could potentially help prevent social engineering tactics from being successful.

In response to violations, BYBIT has worked closely with blockchain forensic companies and law enforcement to track and recover stolen funds. Some of the assets have already been frozen by cryptocurrency service providers that flag suspicious transactions. Meanwhile, BYBIT has ensured that users will absorb losses and continue to process withdrawals without interruption. The incident highlights the persistent threat of cyberattacks on cryptocurrency platforms and the need for industry-wide improvements in security infrastructure to prevent increasingly sophisticated threats.

Illegal funds are still on the move

Following the theft, attackers began carrying out sophisticated laundry operations to obscure the origins of the stolen assets and prevent them from recovering. The first step involved converting stolen tokens such as Steth and Meth to ETH via DEX. The move may be aimed at avoiding potential interventions from token issuers that could freeze the infringed assets. Unlike centralized exchanges that require identity verification, DEXS operates without an intermediary, making it an effective tool for washing illegal funds.

Once an asset was converted to ETH, hackers adopted a common laundry technique known as “layering” to obfuscate transaction trails. The funds are distributed across hundreds of intermediate wallets, each receiving a relatively small amount, making tracking more complicated. The attackers then leveraged cross-chain bridges to move assets between different blockchain networks, further complicating forensic analysis. This tactic is frequently used by cybercriminals and utilizes fragmented surveillance across various blockchain ecosystems, making it difficult for investigators to track stolen funds. About $335 million stolen $1.466 billion from BYBit has already been washed through decentralized exchanges, cross-chain bridges and cryptographic services, with about $900 million still remaining in hacker control.

Another washing method used by hackers involved sending some of the stolen ETH to cryptographic service services such as Tornado Cash or similar platforms. These services break the link between senders and recipients by pooling multiple transactions and redistributing them in a way that obscures the source of funds. Blockchain transactions are inherently transparent, but mixing services introduce additional layers of anonymity, making it extremely difficult for investigators to return illegal funds to their origins. The attackers also engaged in “peel chain” transactions. This means that funds move continuously with a slight increase in multiple addresses, gradually returning to a wider crypto ecosystem.

Despite these sophisticated efforts, blockchain analytics companies and law enforcement are actively tracking stolen funds and identifying and flagging wallets involved in the laundry process. Several cryptocurrency service providers respond by freezing hacker-linked assets, limiting their ability to cash out. However, a significant portion of the stolen funds remain circulated, and hackers may employ a variety of laundry techniques over the coming weeks to move their remaining holdings undetected. Ongoing research highlights both the effectiveness of blockchain forensic tools and the persistent challenge of fighting financial crime in a decentralized space.

As crypto adoption increases, authorities are unable to control the movement of funds

Beyond the Bibit Hack, various threat actors, including state-sponsored cybercriminal groups and authorized entities, were increasingly turning into cryptocurrencies as a way to bypass financial restrictions. These actors leverage the pseudonymity of blockchain transactions, DEX, and cross-chain bridges to move funds outside the monitoring of regulated financial institutions. International sanction-based countries such as North Korea, Iran and Russia are linked to illegal crypto transactions to use these digital assets to fund state operations, such as military programs and espionage. The ability to operate outside of traditional banking networks makes these actors a powerful tool to bypass the restrictions imposed by the global financial system, avoid money laundering (AML) and counter terrorism (CFT) regulation funding.

One of the main methods used to obscure illegal financial flows is the use of mixing services and coin swapping platforms that promote anonymous asset remittances. Tumblers like Tornado Cash are widely used by cybercriminals and authorized entities, obfuscating transaction trails, making it difficult for blockchain analysts to return illegal funds to their sources. Additionally, the No-Kyc Exchange and Peer-to-Peer Marketplace offer even more opportunities for bad actors to cash out stolen or licensed funds with minimal surveillance. These platforms operate in jurisdictions with loose regulations enforcement, allowing users to trade large quantities of cryptocurrencies without scrutiny imposed by obedient financial institutions.

Cross-chain bridging has also emerged as a key challenge for financial regulators as it allows authorized entities to transfer funds to various blockchain networks while avoiding detection. By leveraging the Defi protocol, illegal actors can convert and move assets between networks, complicating efforts to freeze or track illegally acquired funds. Some authorized entities are known to utilize their own blockchain-based financial infrastructure, maintain liquidity and even issue stable or digital assets to carry out international transactions outside the scope of traditional financial surveillance. The increasing sophistication of these tactics has led regulators to step up scrutiny of the crypto industry and promote stricter compliance measures.

Despite these efforts, the transnational, decentralized nature of cryptocurrencies continues to pose a major obstacle to enforcement agencies seeking to crack down on illegal financial flows. Threat actors, including ransomware groups, darknet markets and cybercrime syndicates, are increasingly adopting cryptocurrencies to promote payments and wash illegal incomes. Lack of centralized control and the ability to trade without intermediaries make it difficult for governments and regulators to impose effective restrictions. Advances in blockchain analytics and forensic tools have improved detection capabilities, but the ongoing adaptation of money laundering techniques by licensed entities and cybercriminals demonstrates the persistent cat and mouse dynamics between regulators and illegal actors in the digital financial ecosystem.

The rise of decentralized financial technologies, particularly cryptocurrencies, have fundamentally changed the relationship between government and financial control, effectively enabling the “separation of money from the state.” Initially, it was told as a means of resistance to financial sovereignty and censorship, but this shift had unintended consequences that challenged the global regulatory framework. Cryptocurrency created an alternative financial system that operates beyond state surveillance, allowing licensed entities, cybercriminals and fraudsters to move funds outside traditional banking networks. This decentralization has weakened the government’s ability to enforce economic sanctions, implement capital controls and regulate illegal financial flows, making it even more difficult to contain the effects of fraudsters. This paradigm shift is similar to Pandora’s box, with no central authority that has no complete control over blockchain transactions, and is almost impossible to reverse after opening. As the financial environment continues to evolve, policymakers and regulators face an ongoing dilemma. It is a way to mitigate the risks posed by decentralized money without undermining the co-innovation that redefines global finance.

]]> https://earlybirdsinvest.com/what-can-you-learn-from-bibit-hacks/feed/ 0 22485 https://earlybirdsinvest.com/learn-auto-trading-with-btses-autotrader-in-new-bitdegree-mission/ https://earlybirdsinvest.com/learn-auto-trading-with-btses-autotrader-in-new-bitdegree-mission/#respond Thu, 27 Feb 2025 18:57:15 +0000 https://earlybirdsinvest.com/learn-auto-trading-with-btses-autotrader-in-new-bitdegree-mission/

Accessible via BitDegree’s play-to-earn app and website, this Mission explores the cryptocurrency exchange BTSE’s

AutoTrader offers users free access to thousands of pre-tested, automated trading strategies. These strategies are professionally developed, backtested, and updated daily by experienced traders with backgrounds in top banks and hedge funds.

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Unlike copy trading, where users follow individual traders, AutoTrader allows them to filter strategies based on risk level, time frame, and market outlook.

In addition to learning about BTSE’s AutoTrader, participants can earn up to 1,500 Bits for completing all Mission rounds, including Social Actions.

Users who participate in the Mission before April 30, 2025, also have a chance to win two potential rewards: a share of the 1,175 USDT
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BitDegree will distribute 1,000 USDT from the 1,175 USDT prize pool on a first-come, first-served basis. This means the first 200 users who complete the Mission and register an account on BTSE will receive 5 USDT each.

Additionally, 16 participants will have a chance to win the remaining 175 USDT through a Lucky Draw, where 10 winners will receive 5 USDT, 5 winners will receive 15 USDT, and 1 lucky participant will win 50 USDT. To qualify, users must complete the Mission and sign up on BTSE.

Eligible participants can claim their USDT rewards within 30 business days after the event concludes. Lucky Draw winners will be notified via the email used to register their BTSE account.

Furthermore, participants who sign up on BTSE and complete specific tasks such as passing KYC verification or making their first trade can earn up to 315 USDT in BTSE Cash, which is denominated in USDT and can be used to reduce trading fees on BTSE.

Notably, Mission participants from Canada, Cuba, Iran, North Korea, the Russian Federation, Singapore, Syria, Taiwan, the United Kingdom, and the United States are not eligible for Mission rewards.

Previously, BitDegree launched the Web Scraping With Apify Mission, which provided users with knowledge about a cloud-based platform for web scraping and automation, along with a chance to get a one-month free Apify Starter subscription.