2074: $14.5B Bitcoin Theft Uncovered - WORLD’S LARGEST BTC HACK EVER

August 10, 202500:31:58

$14.5B Bitcoin Theft Uncovered – WORLD’S LARGEST BTC HACK EVER shocks the crypto world, raising urgent questions about digital asset security and state-level cybercrime. As the investigation unfolds, Bitcoin proves its resilience - surging back...

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[00:00]
T-Mobile Advertiser
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[00:29]
Recycling Advocate
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[00:59]
Crypto Host 1
Happy Sunday. Fun Day. Welcome everyone to the number one daily Bitcoin pod. In today's show we'll be discussing a massive Bitcoin short squeeze sending Bitcoin parabolic to a new all time high. Also, crypto debanking is still occurring as banks stick to the choke point policies. Also the Gigachad Michael Sailor is not sweating the rise of Ethereum treasury companies and he just posted the infamous Sailor tracker hinting of another massive acquisition announcement tomorrow. Or also be discussing US national debt explodes by 734 billion in just one month as the government begins accepting Venmo and PayPal donations to cut debt. Also breaking news, Bo Hinds, Director of the White House Crypto Council officially steps down. Also massive news. Our feature story of today, $14.5 billion bitcoin theft uncovered, making it the world's largest Bitcoin Bitcoin hack of all time. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
[02:08]
Crypto Host 2
If you are new to the Rumble important smash the likes give us a follow and hit the repost over on X. We're no. 1 Daily Bitcoin Pod. Today is Pod episode number 2 74. It's Sunday Funday August 10th, 2025. Happy 420 and guess what? We recapture 119 last night and earlier today. We're currently sitting at about 118.2 at.
[02:31]
Crypto Host 1
The time of the live stream still.
[02:32]
Crypto Host 2
Up over 1500 on the day and kicking it off. You can see coin360 here. Ether finally took a step back and this is a price action we haven't seen from ether since 2021. It reclaimed 4200. Even with the correction, it's still sitting above 4200. Also XRP is roughly $3.20. Salana, Tron, Litecoin all in the green on checking out coin market cap.com the current crypto market cap is coming in pretty strong today. 3.96 trillion right on the cusp of the all time high which is just north of 4,162,000,000,000 worth of volume for the past 24 hours. Bitcoin market cap is 2.351 trillion. Uh, the Bitcoin dominance is 59 and a half percent with the Ether dominance coming in at 12.9%. And check it out, top 100 crypto gainers past 24 hours. We got Radium leading the pack up 12% followed by Leo Dow up 10 and Story up 6 and then very modest gainers across the board as the majority of the market is correcting today and in the red. In fact let's check out the crypto bubbles. Get that visual perspective I dare say. Damn like 90% of the market corrective right now. And zooming out for the weekly flip.
[03:50]
Crypto Host 1
That 95% of the market in the green. Zooming out for the monthly.
[03:55]
Crypto Host 2
It's a mix.
[03:55]
Crypto Host 1
I'd say 7030 green over red and the 12 month perspective similar maybe 7030 green over red. And checking out the crypto green and fear index today it's a 69. Hey now, always a good omen in greed. Yesterday is 67, last week of 53 and last month of 71. And checking out the infamous time chain calendar today is block height 900 9429. We have 14571 blocks until having 2028. And as of today, 8-10-2025, you can exchange one fiat monopoly dollar for 846 sats. So again, one dollar will get you 846 sats. So you should know precisely what to do. You pick up the stats, put down the gas and pick up some bitcoin caps for man Sergio over@bitcoin caps.net but let's continue. I guess we'll do our TA aka astrology for the baddies. The particular headline reads right Here Bitcoin can liquidate 18 billion with 10% price gain as traders see 120,000.
[04:59]
Crypto Host 2
Take that bears.
[04:59]
Crypto Host 1
We're coming for the short squeeze. That's right. Check this out. Bitcoin neared 119. It was last night 119. Even this morning it touched 119. Currently we're just above 118 on Sunday's decisive weekly close as traders expected a strong week. And here you're looking at the one hour chart. I'll be pulling up the live charts when I'm done with this analysis here. Trading view showed Bitcoin reaching 18760 on Bitstream stamp hitting a new August high out of hours. Weekend trading saw heightened liquidations within the 24 hour crypto total hit 350 million. Here you can see the bitcoin liquidation map as per the past 24 hours via bance commenting on the market structure crypto forecast favored further progress into the next week. I think we're likely to hit that next leg up fam, what are your thoughts? Bitcoin's on the cusp of reclaiming117.2 back to support as analyst right capital shared alongside the chart. Bitcoin is hours away from a decisive weekly close and obvious obviously we got that weekly where we get that weekly close in less than 90 minutes. Popular trader Bitbull said that while weekend price moves can typically reverse as tradfi markets reopened there was hope for new all time highs. Next quoting the analysts just a 10 upward move will cause 18 billion plus and short liquidations and big money is probably a watching. My guess is that Monday could be a bit bearish with bitcoin retrace in a weekend pump. After that we can see a move of about 120000 and it's crazy how many times we retested and broke through. 120 again the current top is 1232 and we're not too far off roughly 5,000 away. This chart shows bitcoin previous bull markets to support the breakout thesis. You can see the number one, the number two and oftentimes these cycles rhyme.
[06:43]
Crypto Host 2
Merlin the trader points out Bitcoin's next move120 largest liquidity pool in weeks is sitting right above us.
[06:49]
Crypto Host 1
If you short here God help you. You can't short your dork.
[06:53]
Crypto Host 2
You can't afford that short squeeze a loading. So take that perma bears considering where the next bitcoin price zip my reverse. Meanwhile crypto investor suggests that price action continue to coincide with the gaps in the CME groups Bitcoin futures market Quoting him here there's a CME gap at116.5 which will most likely be filled this week. Bitcoin dropped 2000 to fill last week's CME gap. After that Bitcoin can rally towards a new all time high. And again the all time high is 1232 and quoting dan crypto trades most focus is on eth breaking its cycle high and alts making all kind of moves would assume Bitcoin takes the spotlight again for a bit the moment it breaks120,000 and gets close to the all time high once again. So you already know the inevitable is amongst us. But the question is when do you think we break 120 and recapture price discovery? Holla at your boy and I'll be pulling up some of the live charts.
[07:52]
Crypto Host 1
And we can do some live chart action. Jackson Satisfaction, Bo Jackson, Joe Jackson, Tony Braxton for the baddies Looking at the live charts right here via Trading View via Coinbase and we typically stick with Coinbase considering it's the largest exchange in the United States and more than half of you guys are residing in the US Though we do have a worldwide audience collectively. And here you can see on the one hour chart big red candle form.
[08:16]
Crypto Host 2
To take us back down to 118.3.
[08:19]
Crypto Host 1
Precisely where we're at.
[08:20]
Crypto Host 2
We did hit one 19 already blue.
[08:23]
Crypto Host 1
Target in play currently sitting at 119 eight just shy a 120. So the current line in the sand is that 120 mark we need to get above. A lot of the analysts are saying once we break through we're likely to recapture Price discovery again which is above one two three two and zooming out from there. Checking out the four hour. Any Nipinator indicator? Not yet but I have, I have.
[08:48]
Crypto Host 2
A feeling it's coming. You can see on the four hour.
[08:51]
Crypto Host 1
Chart two red candles of the past, you know, eight hours.
[08:54]
Crypto Host 2
Obviously every candle is a four hour interval.
[08:56]
Crypto Host 1
Prior to that we had two big green candles pushing us back, you know, to 119. No particular targets.
[09:02]
Tech Analyst
Let's analyze this week's tech innovations and startup moves.
[09:08]
Honestly Elena, I didn't track the updates but I did switch to T Mobile with their new Family Freedom offer.
[09:16]
That's not the disruption we're covering.
[09:19]
Well, I'm pivoting from AT&T and scaling up with T Mobile. They paid off my family's four phones up to $3200 and gave us four.
[09:31]
New phones on the house unicorn status.
[09:35]
T-Mobile Advertiser
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[09:49]
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[10:01]
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[10:16]
Crypto Host 2
Let's go.
[10:17]
Zigly Fiber Advertiser
And young Mason Moore got more done quickly uploading HD product demos and video conferencing without freezing the numbers look good.
[10:24]
T-Mobile Advertiser
Brad, you're on mute.
[10:25]
Zigly Fiber Advertiser
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[10:31]
Crypto Host 1
On the four hour chart but we are well above the moving averages as you can see. Taking a step further out you can.
[10:38]
Crypto Host 2
See the daily chart. We have a rising wedge, a green candle already formed on the day which is great.
[10:44]
Crypto Host 1
Yesterday was an itty bitty red corrective.
[10:47]
Crypto Host 2
On Sat stack and Saturday, Friday was corrective. Then Thursday and Wednesday we had nice green candles and checking out the particular target on the daily is a bull flag. Very bullish. 146. Four again 146. Four in play according to the daily chart. And taking a step further back checking out the weekly and like I mentioned earlier in roughly 90 minutes we will get a weekly close during the live stream you can see there's a green candle for the week so the bullish momentum is back. That's a great sign. And we have 124000 cup and handle target which has been printed on the weekly chart for mostly the past year. And we came so close from already hitting it within 800 and checking out the monthly 1, 2, 3 4. So August is our fifth green consecutive month. It's a great sign. Pure bullishness. Cannot complain. I cannot. Satoshi don't even know how much he got. He Forgot. It's a lot. 1.1 million. Don't blow up his spot. But there you have it.
[11:48]
Crypto Host 1
Yo. Next story here fam. And again welcome everyone. Already over 600 people on the X feed. We're blowing up and jam pack house on the Rumble. Join the Rumble to interact in the chat, of course. Next story regarding this debanking headline reads Crypto debanking is still occurring as banks stick to choke point policies. That's my understanding why Trump had to sign the recent executive order so they can stop this unlawfulness going on with the banking institutions. Crypto firms have been facing account closures and denials of banking services for years under the label of de risking. That's right, because Obama administration and the Biden administration both had a war on crypto called operation choke point 2.0. Many in the crypto industry believe that the debanking represents a policy driven effort to suppress digital assets. Refer to operation choke point 2.0. That's not just what we think, that's just the reality.
[12:39]
Crypto Host 2
I mean those are the facts.
[12:40]
Crypto Host 1
And after President Trump's pro crypto team.
[12:42]
Crypto Host 2
Won the election, many believe the era of debanking was over.
[12:45]
Crypto Host 1
His campaign rhetoric and early policy moves signal a friendlier environment for digital assets, leading some to expect banks will ease restrictions on crypto clients.
[12:55]
Crypto Host 2
However, recent incidents suggest that practices remain entrenched. Last week Anderson Horowitz partner Alex Rample was warn that the big banks are squeezing fintech and crypto apps in Operation Choke 3.0.
[13:08]
Crypto Host 1
Those bastards.
[13:09]
Crypto Host 2
By hiking fees to access account data for or transfer funds to platforms like Coinbase or Robin Hood.
[13:17]
Crypto Host 1
Echoing those concerns, CEO of Unicorn shared.
[13:20]
Crypto Host 2
That the US banks are continuing to close accounts for crypto firms without explanation despite growing political pressure to end the practice. It seems like me this is a.
[13:29]
Crypto Host 1
Legit all on out war and that.
[13:32]
Crypto Host 2
These bastard central bankers are just going to do whatever they want to do because they recognize Bitcoin is making them extinct. And I mean what excuse do they have? We know about it firsthand as Unicorn and subsidiaries have been debanked without explanations by several banks. I say we stop supporting the banksters that don't support Bitcoin in our industry. So if you're keeping money at JP Morgan Chase, knowing how much of a fudster Jamie Demon is Epstein's banker, why bank with them? Go ahead and take all your money out of that bank and go find yourself a local credit union that's not as corrupt as Jamie Demons JP Morgan Chase again, why support Epstein's banking, you know, institution? It just makes no sense whatsoever. Stop supporting the fraud and maybe things will change. But as long as we're supporting the fraudsters, don't expect change. I mean, but anyways he listed five.
[14:27]
Crypto Host 1
Banks that cut ties with Unicorn subsidiaries.
[14:29]
Crypto Host 2
Over the past years which included Citibank, Chase, Wells Fargo, City national bank of Florida and TD Bank. Spokesperson from Chase, everyone's least favorite banking institution declined to comment. Yeah, I wonder why. It's because he's probably complicit.
[14:45]
Crypto Host 1
Yeah. I mean, or compromised. So you already know how I feel about the banksters and shout out to people like Max and Stacy who have been calling out these corrupt banking cartels for decades now. Someone here claimed that the unicorn was debanked by four banks this year alone. Suggests that choke point is a large scale nationwide operation. Exactly. You. I'm sorry. And it's not unicorn. It's unicorn. And I just defaulted to unicorn in my brain. It's unicorn is publicly reporting cooperation with six years of audited financials and over 4000 shareholders and they're denying them.
[15:17]
Crypto Host 2
That's nuts.
[15:19]
Crypto Host 1
They also added the banking campaigns have created highly disruptive, damaging conditions. Exactly. For crypto companies. The US depriving them of access to basic financial services, suppressing the American crypto industry. And that's not by accident. Clearly it's all by design. Thursday, Bloomberg reported that Trump will sign an executive order directing federal bank regulators to identify and penalize financial institutions that have engaged in the banking. Well, let's get these bastards already. The order will reportedly require regulators to review complaint data while banks overseen by Small Business Administration must work to reinstate clients who were unlawfully denied services. Let's get with the program. They also expressed that Trump's proposed executive order to curb the banking could bring relief. Quoting them here, the President knows the pain of the banking firsthand because he was the bank right and seems determined to stop this form of economic warfare against American business. He said ending the banking could help the U. S. Crypto reclaim global leadership. Ending the war on crypto will boost the American crypto industry. It may become as impactful internationally as Hollywood is in the entertainment or Silicon Valley in it. Meanwhile, Elizabeth Bickley, a partner of Fox Rothchild's tax controversy litigation practice, said that while Trump has directed agencies in Congress to review how crypto can be integrated into mainstream finance, meaningful change will depend on the final wording of regulations and laws. Which means we still got some ways to go. She pointed to the recently signed Genius act which gives the Fed stablecoins certification review committee 180 days to design a regulatory framework. She also warned that most bills in Congress never make it out of the committee and that they eventually legislation will likely face litigation from both sides of the regulatory debate. She also says for now, banks are.
[17:09]
Crypto Host 2
Likely to continue their risk adverse stance.
[17:11]
Crypto Host 1
Towards crypto until the new rules clearly reduce perceived risks. Quoting her here it is all about making risk adverse entities and people feel like crypto is less of a risk.
[17:22]
Crypto Host 2
And if you don't know, there you have it. The war on crypto allegedly continues, especially in the banking industry, which is very unfortunate and I blame Jamie Damon.
[17:32]
Crypto Host 1
Here's the the good news. He just posted the Sailor Tracker every single time he posted on a Sunday. It's a precursor to a massive acquisition announcement for strategy the following day. So I'm anticipating that. Last week he announced like a 2.4 billion,000 acquisition. So we'll see what he announces tomorrow. Headline here reads Michael Sailor is not sweating the rise of Ethereum treasury companies and here's a post he shared on X earlier today if you don't stop buying Bitcoin, you won't stop making money. This is the infamous Sailor Tracker which shows you every single time that his company purchased Bitcoin and a precursor to a big announcement being shared tomorrow. So yeah, Strategy Executive Chair and Bitcoin maxi Mikey Sailor show no signs. Worry about the growing treasury interest in Ether and other cryptos quitting them here. I think there is an explosion of innovation across the entire crypto economy and on the margin it is good for everybody in the digital asset space. I still think the vast majority of capital flowing in the space flowing into bitcoin, he added.
[18:30]
Tech Analyst
Let's analyze this week's tech innovations and startup moves.
[18:36]
Honestly Elena, I didn't track the updates, but I did switch to T Mobile with their new features Family Freedom offer.
[18:44]
That's not the disruption we're covering.
[18:47]
Well, I'm pivoting from AT and T and scaling up with T Mobile. They paid off my family's four phones up to $3200 and gave us four.
[18:59]
New phones on the house Unicorn status.
[19:03]
T-Mobile Advertiser
Introducing Family Freedom Our lowest cost will switch our biggest family savings all on America's largest 5G network. Visit your local T Mobile location or learn more@t mobile.com FamilyFreedom up to $800.
[19:17]
Per line via virtual prepaid card typically takes 15 days. Free phones via 24 monthly bill credits with finance agreement eg Apple iPhone 16128 gigabyte 8 2,999 eligible trade in eg iPhone 11 Pro for well qualified credits end and balance due if you pay off early or cancel contact T Mobile.
[19:29]
Odoo Advertiser
So when I ask what is Odoo? What comes to mind? Well, Odoo is A bit of everything. Odoo is a suite of business management software that some people say is like fertilizer because of the way it promotes growth. But you know, some people also say Odoo is like a magic beanstalk because it grows with your company and is also magically affordable. But then again, you could look at Odoo in terms of how its individual software programs are a lot like building blocks. I mean whatever your business is needs, manufacturing, accounting, HR programs. You can build a custom software suite that's perfect for your company. So what is Odoo? Well, I guess Odoo is a bit of everything. Odoo is a fertilizer, magic beanstalk, building blocks for business. Yeah, that's it. Which means that Odoo is exactly what every business needs. Learn more and sign up now@odoo.com that's.
[20:27]
Crypto Host 1
O D O O.com Bitcoin dominance, which measures Bitcoin's share of the overall crypto market stands at 60 at this time according to the trading view data.
[20:37]
Crypto Host 2
And there's the man, the myth, the legend himself.
[20:41]
Crypto Host 1
First publicly traded company to adopt bitcoin put on the balance sheet back in 2020. Back then his company only had a.
[20:47]
Crypto Host 2
Market cap of 400 million.
[20:49]
Crypto Host 1
He described it the capital as a melting ice cube.
[20:52]
Crypto Host 2
I mean, and now it's north of $120 billion.
[20:56]
Crypto Host 1
And that's the difference with adopting bitcoin. And that's why we have so many bitcoin treasury firms being birthed, especially this year. Sailor also noted in the past six months the number of the companies holding Bitcoin has risen from 60 to 160. That's 100 new companies. So I am laser like focused on the biddy strategy. As you know, the largest bitcoin treasury currently with 628000 Bitcoin worth 74 billion.
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Crypto Host 2
According to Bitcoin Treasury's data.
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Crypto Host 1
The second largest is Mera and they're not even close.
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Crypto Host 2
Only 50 000. So look at the gap.
[21:28]
Crypto Host 1
Michael Sailor's company 628, 000 the second.
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Crypto Host 2
Largest 50000 more than 12 times less.
[21:34]
Crypto Host 1
Sailor predicts that Bitcoin will outperform the S and P over the indefinite future.
[21:38]
Crypto Host 2
That's a fact, Jack.
[21:39]
Crypto Host 1
I think bitcoin is a digital capital.
[21:42]
Crypto Host 2
Precisely.
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Crypto Host 1
His comments came less than a month after bitcoin reached a new all time.
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Crypto Host 2
High 1232 over on Coinbase July 14th before pulling back to 118 roughly. We're sitting just above 118 at the.
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Crypto Host 1
Time of the live stream.
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Crypto Host 2
Meanwhile, ETH is up, hitting a high we ain't seen in years, currently 4.
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Crypto Host 1
200 up 23 over the past 30 days. The surge followed predictions from several analysts who foresaw a significant rebound after the.
[22:06]
Crypto Host 2
Drop below to 2,000. Yeah, that's right, it crashed all the way to like 1314 Honda back in March. Many market participants attribute the price spike to rising incentives, institutional and ETF demand for Ether.
[22:16]
Crypto Host 1
Also, you had Trump's son Eric Trump flexing about Bitcoin and Ether and all.
[22:22]
Crypto Host 2
The, you know, short traders getting wrecked. So clearly the Trump family is bullish.
[22:27]
Crypto Host 1
Not just on Bitcoin but Ethereum as well.
[22:29]
Crypto Host 2
Also bit mine holds 833,000eth worth 3.2.
[22:33]
Crypto Host 1
Billion, the fourth largest holdings company that holds any crypto.
[22:36]
Crypto Host 2
And then Sharp Link and the ether machine hold 2 billion and 1.1 34.
[22:41]
Crypto Host 1
Billion worth of ETH and respectively, while.
[22:43]
Crypto Host 2
The Ethereum foundation and Pulsechain round out the top five. But there you have it. Yo, let me know how much you anticipate Sailor making the announcement for the.
[22:52]
Crypto Host 1
Purchase and I'll read your comments out loud.
[22:55]
Crypto Host 2
And also, as you know, he initially outlined the 2121 plan, which means using.
[23:01]
Crypto Host 1
$21 billion raised to purchase Bitcoin.
[23:04]
Crypto Host 2
They doubled that more recently, it's now the 4242 plan, which means he has another $42 billion to raise to buy more of the BTC.
[23:12]
Crypto Host 1
But anyways, let's keep it moving. Still lots to share as we're approaching the top of the hour. Welcome everyone joining us. All hail Fed chair dog Nip. US national debt explodes by 734 billion in just one month. That's like three quarters of a trillion in 30 days as the government begins accepting Venmo and PayPal donations to cut the debt. Best of luck with that. Government as you can see here, the US government is now accepting donations via PayPal and Venmo to help reduce the national debt, which ballooned by a whopping 734 billion in one month. And according to the US Treasury, America's national debt jumped from 36 trillion on July to 36.9 trillion on August 6th. And over the next decade, the recent passage of President Trump's One Big Beautiful Bill act is expected to add more than 3 trillion to the national debt, largely due to tax cuts, according to the Congressional Budget Office. The Trump Admin has disputed the estimate, and while the US Treasury Department has long operated a pay.gov site that allows for donations to reduce the national debt. It appears that payment options like PayPal and Venmo were recently added. They must be getting desperate. In addition to the usual bank account or credit card donation options, donors can make the different payment selections under Gifts to render Reduce the public debt. Who in their right mind would be donating money to the US Government to reduce the debt when they're just going to continue to print like there's no tomorrow? It it's just crazy. The new payment options just garnered a lot of attention near NPR host Jack Corbett flagging them on X. Since 96 data show the government has received 67 million in gifts. To me, that is just mind boggling that they actually received 67 million in donations to reduce the debt. Do you know how much that helped reduce the debt? Probably did absolutely nothing, which measures how the US owes to its creditors. And a year ago the US national debt stood at 35 trillion. And like I said earlier, with the new bill by Trump, that's going to.
[25:12]
Crypto Host 2
Add another 3 trillion to the debt.
[25:14]
Crypto Host 1
And it's impossible. It's impossible to pay down that debt. So please buy Bitcoin versus sending donations to the US Government. Not financial advice, but I just do not recommend donating to the US Government.
[25:29]
Crypto Host 2
You want to donate, find the good cause where 100 of the donation actually goes to the, you know, the people that need the help, whether it's a.
[25:38]
Crypto Host 1
Dog shelter, children, you name it.
[25:40]
Crypto Host 2
There's plenty of good organizations out there. Do not donate to the US Government. What are they going to do? Send it to the Ukraine and use it to weaponize us and spark more wars?
[25:50]
Crypto Host 1
But anyways, next story. You should be able to see the headline here. Bo Hinds, Director of the White House Crypto Council steps down. It's crazy because the Crypto council number one was just formed and he was just introduced. So I wonder why, like why he really stepped down. Let's try to uncover it, the story goes. Bo Hinds, the Executive director of US President Trump's White House Crypto Council, announced he is stepping down on Saturday. Hinds, who was appointed by the President to lead the advisory group in December of 2024, said he's stepping down to rejoin the private sector and thank the crypto community for its unwavering support. Quoting him here. Serving in President Trump's admin and working alongside our brilliant AI and cryptos are David Sachs. As Executive Director of the White House Crypto Council has been an honor of a lifetime. Together we have positioned America as the crypto capital of the world and it goes a little deeper. Here's the official post from Bo Hinds on access timestamp August 9, which was yesterday at 4:39pm he also goes on to say, I love this community and all we've built together. As a return to the private sector. I look forward to continuing my support for the crypto ecosystem as it thrives.
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Crypto Host 2
Here in the United States.
[27:01]
Crypto Host 1
Now, as a conspiracy theorist with a permanent tinfoil hat under the cap that I rock on the show, I lead.
[27:08]
Crypto Host 2
To believe like what's really going on.
[27:10]
Crypto Host 1
And I'll share some of my insights and thoughts when I'm done reading and entertaining this story. Although a successor has not yet been named, independent crypto reporter Eleanor Tourette said.
[27:20]
Crypto Host 2
That Heinz Deputy Director Patrick Witt will.
[27:23]
Crypto Host 1
Likely be appointed to the position. Let me know if any of you guys ever heard of that guy. I've never heard of the name the White House Crypto Council published a comprehensive report proposing a regulatory action plan for.
[27:33]
Crypto Host 2
Digital assets in the US In July.
[27:35]
Crypto Host 1
Although the advisory group has been instructed instrumental and guiding policy efforts, critics say the Council under delivered on the strategic Bitcoin reserve. Yes, because the point is they have not purchased any Bitcoin or use any net neutral strategy to do so, though they have.
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Crypto Host 2
The green light is my understanding, because.
[27:52]
Crypto Host 1
There was the Executive order which was signed into office. But you can see Bo Hines alongside President Trump right here. So you guys got to let me.
[27:59]
Crypto Host 2
Know why you think he stepped down.
[28:01]
Crypto Host 1
And I'll just dive a little deeper here. Hines advocated for the accumulation of Bitcoin through budget neutral strategies. Respect Trump signed the Executive Order, as you know, establishing the Bitcoin strategic reserve.
[28:11]
Crypto Host 2
And a national crypto stockpile that was back in January. However, the order limited how government could acquire additional bitcoin.
[28:18]
Crypto Host 1
The Executive order prohibits the federal government.
[28:20]
Crypto Host 2
From selling any of the US Government's.
[28:22]
Crypto Host 1
Accumulated Bitcoin and directs the Treasury Department.
[28:24]
Crypto Host 2
And the Commerce Department to find budget.
[28:26]
Crypto Host 1
Neutral strategies to accumulate more of the digital currency. And if you missed the pod I did the other day, discussing how they.
[28:33]
Crypto Host 2
Can use gold is pretty let's map.
[28:36]
Tech Analyst
Out this week's amazing destinations and travel tips.
[28:40]
Honestly Will, I didn't plan any trips, but I did switch to T Mobile with their new family Freedom offer.
[28:47]
Crypto Host 1
That's not the itinerary we're following.
[28:50]
Tech Analyst
Well, I'm departing from ATT and embarking on a new journey with T Mobile. They paid off my family's four phones up to $3200 and gave us four new phones on the house.
[29:03]
Crypto Host 1
Bon voyage.
[29:05]
T-Mobile Advertiser
Introducing family Freedom Our lowest cost to switch our biggest family savings all on America's largest 5G network. Visit your local T Mobile location or learn more@t mobile.com FamilyFreedom up to $800.
[29:19]
Per line via virtual prepaid card typically takes 15 days. Free phones via 24 monthly bill credits with finance agreement eg Apple iPhone 16128 gigabyte $8,029.99 Eligible trade in eg IPH well qualified credits end and balance due. If you pay off earlier, cancel contact.
[29:30]
Crypto Host 2
T mobile phenomenal strategy another net neutral way to acquire, you know, 1, 2, 3 million Bitcoin for the United States.
[29:37]
Crypto Host 1
Now budget neutral strategy means that the.
[29:40]
Crypto Host 2
Only way the US government can acquire the new Bitcoin for the reserve is through asset seizures or ways that do not create additional burdens on the US public budget. And the fact is there's a lot of creative ways to do that.
[29:51]
Crypto Host 1
In March, Hein suggested the US Government.
[29:53]
Crypto Host 2
Should revalue its government gold holdings. Yes, please. Which is currently priced at $42 per troy ounce, while gold trades at about $3,400 per ounce on the spot market.
[30:05]
Crypto Host 1
A portion of the revalue goal could.
[30:06]
Crypto Host 2
Then be converted to Bitcoin. That's what I'm saying. Increasing the size of the national bitcoin reserve without creating a budget expense. Get rid of the yellow metal and buy the hardest asset to ever exist.
[30:18]
Crypto Host 1
The apex predator.
[30:19]
Crypto Host 2
There is no second best.
[30:21]
Crypto Host 1
So yeah, back to conspiracy theories.
[30:23]
Crypto Host 2
I lead to believe there's probably something a lot deeper. He didn't really explain why he stepped down. And for him to step down like that after serving the White House and President Trump, probably living his life's dream, leads me to believe there's some sort of conflict of interest and he doesn't want to be a part of it. I don't know whether that's to do.
[30:42]
Crypto Host 1
With maybe he's not on the Epstein.
[30:46]
Crypto Host 2
Client list and they don't have any blackmail over his head and maybe the.
[30:49]
Crypto Host 1
US just wants to get rid of.
[30:50]
Crypto Host 2
Him and said, you know what, just step down.
[30:52]
Crypto Host 1
Or whether he's like, oh, I don't.
[30:54]
Crypto Host 2
Want to be involved.
[30:55]
Crypto Host 1
Whatever this nefarious activity is going on.
[30:58]
Crypto Host 2
At the White House, I just stand down. No more White House parties with the Biden family. Hunter Biden? Yeah, I mean, I don't want to see him in my presence with, with, you know what I mean, with his drugs anymore at the White House. Maybe they'll think I'm like him and.
[31:13]
Crypto Host 1
I'm nothing like Hunter Biden. Again, I'm just speculating, just thinking out loud.
[31:18]
Crypto Host 2
Why do you think he stepped down? Your guess is as good as mine.
[31:21]
Crypto Host 1
Because I can tell you the official.
[31:23]
Crypto Host 2
Story is 99 of the time never true.
[31:27]
Crypto Host 1
And I think you guys would agree. All right, fam. Now for our future story of the day.
[31:30]
Crypto Host 2
Breaking news.
[31:31]
Crypto Host 1
ARCAM uncovers a three and a half billion dollar heist. The largest bitcoin heist of all time. And that bitcoin is now worth 14 and a half billion dollars.
[31:42]
Crypto Host 2
That's right.
[31:43]
Crypto Host 1
And I'll be breaking down this thread from Arkham Intelligence doing a deep dive. There was another article published here regarding it. Unreleased reported 3 and a half billion Bitcoin hack from 2020 dwarfs the Mount.
[31:54]
Crypto Host 2
Gox in value worth 14 and a half billion today. So let's go ahead and do the deep dive.
[32:00]
Crypto Host 1
Shout out. Aram And I was right. It is a Chinese mining pool.
[32:03]
Crypto Host 2
Check it.
[32:04]
Crypto Host 1
Lubian was a Chinese mining pool with facilities in China and Iran. Based on analysis of the on chain data, it appears 127427 BTC was stolen.
[32:18]
Crypto Host 2
From Lubian in December of 2020.
[32:21]
Crypto Host 1
So literally five years ago at the time of the hack, the bitcoin was.
[32:24]
Crypto Host 2
Worth three and a half billion. And now that bitcoin is worth fourteen and a half billion dollars. Neither Lubian nor the hacker have publicly acknowledged the hack.
[32:36]
Crypto Host 1
That's why most people don't know this.
[32:37]
Crypto Host 2
Story and we're assuming as JV just making up. No, this is the real deal. ARCAM is the first to report it. So let's break down this breaking news. Here we go.
[32:46]
Crypto Host 1
I'm going to read with you this.
[32:48]
Crypto Host 2
Entire thread by Arcam and you can.
[32:50]
Crypto Host 1
See they posted already.
[32:51]
Crypto Host 2
847000 views.
[32:54]
Crypto Host 1
Lubian was the world's largest mining pool.
[32:56]
Crypto Host 2
Back in 2020, controlling 6% of the Bitcoin's total hash rate as of May of 2020.
[33:04]
Crypto Host 1
They appear to have first been hacked December 28th. Wow. It's three days after Christmas in 2020 for over 90% of their Bitcoin. Subsequently, on December 29th, around 6 million of additional Bitcoin and USDT was stolen from Lubian. Address active on Bitcoin omni layer on the 31st, Lubian rotated the remaining funds to recovery wallets. It gets interesting.
[33:29]
Crypto Host 2
Each hacker address receive op underscore return.
[33:33]
Crypto Host 1
Message shown in the screenshots in which Lubian asked the hacker to return their funds. Lubian spent 1.4 Bitcoin across 1516 different transactions to send all these messages. Which suggests that this is not a spoof from another hacker who has brute force the private keys. And it's all outlined there with all the proof of work and the images. It appears that Lubian was using an algorithm to generate its private keys that was susceptible to brute force attacks. This may have been the vulnerability exploited by the hackers. Lubian preserved 11,886 BTC currently worth 1.35 billion, which they still hold. The hacker who still holds the stolen Bitcoin with their last known movement being a wallet consolidation in July of 2024. So with three and a half billion in stolen assets at the time of transfer, Lubian hack is the largest of all time owning to Bitcoin's price appreciation since 2020. The current value of distilling assets is.
[34:35]
Crypto Host 2
Now 14 and a half billion and it's going up forever. Laura, making the lubian hacker the 13th.
[34:41]
Crypto Host 1
Largest Bitcoin holder on Arkham, ahead of the Mt.
[34:45]
Crypto Host 2
Gox hacker. Crazy.
[34:47]
Crypto Host 1
Now all of this has the proof of work. ARCAM intelligence is super legit. 1.6 million followers as it says here. Trade with intelligence, crypto exchange and blockchain analytics platform. I dare say they're like the number one best at tracking things on chain using the blockchain. Also there's you know, companies like Glass.
[35:06]
Crypto Host 2
Node analytics and such which are pretty good as well.
[35:09]
Crypto Host 1
And moving back to the story here, it says this heist was executed five.
[35:13]
Crypto Host 2
Years ago, but only discovered this week. So that's why this is breaking news.
[35:18]
Crypto Host 1
And that's why I'm taking the time to share this with you.
[35:20]
Crypto Host 2
I bet you most of you guys probably never heard of this. Intelligence agents uncovered the largest ever Bitcoin highest 127426 BTC at today's value. At the time of the hack, as I mentioned, it was only three and a half billion, but that is obviously very substantial and it's crazy to fathom how much money that hacked Bitcoin is going to be worth in the future because we're talking over 100,000 BTC. But there you have it. Yo, that's the latest. And just a reminder, self custody your bitcoin because only properly self custody Bitcoin cannot be hacked. Yeah, I mean things on mining pools or centralized exchanges. Yeah, I mean not your keys, not your cheese, things like that become honey pots to bad actors and anything can happen. Yeah, I mean, so it's better to be safe than to be sorry.
[36:15]
Crypto Host 1
So always stress caution.
[36:17]
Crypto Host 2
Just a reminder, nacho keys, not your coins. Good luck moving your stolen bitcoin It's a blockchain that's validated, secured. SHA 256. Your address is publicly known. Exactly. So the exchanges could put you on, like, a. A blacklist where, you know, if you put funds into their exchange, they freeze your assets. Yeah. I mean, so watch out. Money launderers.
[36:38]
Crypto Host 1
But. Exactly. Good point there, Greg. And again, welcome everyone. This is a Q A segment of the live stream. We just discuss all the breaking news stories on the day. If anyone has any particular questions, feel free to ask. I'm happy to hang out and read your comments out loud, address questions and chillax with the bitty fam. And don't forget to check out bitcoinnewsalerts.net for the full premium experience with video and to participate in the live stream along with the Q and A. And I look forward to seeing you on tomorrow's episode Huddle.

2074: $14.5B Bitcoin Theft Uncovered - WORLD’S LARGEST BTC HACK EVER

August 10, 202500:31:58

Summary6 min read

Podcast Summary: Bitcoin News Alerts | Daily BTC News Episode: 2074: $14.5B Bitcoin Theft Uncovered - WORLD’S LARGEST BTC HACK EVER
Release Date: August 10, 2025
Host: Bitcoin News Alerts

Introduction

In Episode 2074 of the Bitcoin News Alerts podcast, hosts delve into a series of pressing Bitcoin and cryptocurrency-related issues. Skipping over advertisements and introductory segments, the hosts focus on significant market movements, regulatory challenges, high-profile industry figures, and a groundbreaking Bitcoin theft uncovered by Arkham Intelligence.

Bitcoin Market Analysis

The episode begins with a detailed analysis of Bitcoin's current market status, highlighting a massive short squeeze propelling Bitcoin to new all-time highs.

Host 1 (00:58): "Bitcoin can liquidate $18 billion with a 10% price gain as traders see 120,000."
The hosts discuss Bitcoin's performance, noting a significant weekly close and potential for reaching $120,000 in the near future. Host 2 (07:52) emphasizes the bullish sentiment: "We're coming for the short squeeze."
Technical analysis includes observations on market dominance, with Bitcoin holding a 59.5% share and Ether at 12.9%. The market cap is approaching $4.16 trillion, with Bitcoin alone at $2.351 trillion (02:31).

Crypto Debanking

A significant portion of the discussion centers around the ongoing issue of crypto debanking, where financial institutions are restricting services to cryptocurrency businesses.

Host 1 (11:48): "Crypto debanking is still occurring as banks stick to choke point policies."
The hosts tie this trend to historical efforts like "Operation Choke Point 2.0," describing it as a policy-driven attempt to suppress digital assets. Host 2 (12:54) adds, "Last week Anderson Horowitz partner Alex Rample warned that the big banks are squeezing fintech and crypto apps in Operation Choke Point 3.0."
The conversation highlights President Trump's upcoming executive order aimed at penalizing banks that unlawfully deny services to crypto firms, with the expectation that this will alleviate some of the current restrictions (14:45).

US National Debt and Government Actions

The hosts shift focus to the US national debt surge and the government's unconventional approach to mitigating it.

Host 1 (25:11): "US national debt explodes by $734 billion in just one month as the government begins accepting Venmo and PayPal donations to cut debt."
They critique the government's strategy, questioning the efficacy of accepting donations through platforms like PayPal and Venmo. Host 2 (25:14): "Who in their right mind would be donating money to the US Government to reduce the debt when they're just going to continue to print like there's no tomorrow?"
The hosts argue that such measures are insufficient and emphasize the importance of investing in Bitcoin instead (25:29).

Michael Sailor's Insights

Michael Sailor, a prominent figure in the Bitcoin community, is discussed extensively, highlighting his company's substantial Bitcoin holdings and future plans.

Host 1 (17:31): "Michael Sailor is not sweating the rise of Ethereum treasury companies."
Sailor's Sailor Tracker is mentioned as an indicator of upcoming strategic acquisitions. Host 1 (17:31): "Here's the infamous Sailor Tracker which shows you every single time that his company purchased Bitcoin and a precursor to a big announcement being shared tomorrow."
The hosts note Sailor's company's Bitcoin holdings at 628,000 BTC, worth approximately $74 billion, making it the largest Bitcoin treasury (21:21).

Bo Hinds' Resignation from the White House Crypto Council

A significant news item is the resignation of Bo Hinds, Director of the White House Crypto Council.

Host 1 (25:40): "Bo Hinds, Director of the White House Crypto Council, officially steps down."
Hinds cited a desire to rejoin the private sector and expressed gratitude to the crypto community. Host 1 (26:59): "Serving in President Trump's admin and working alongside our brilliant AI and cryptos has been an honor of a lifetime."
Speculation arises about the reasons behind his sudden departure, with conspiracy theories hinting at potential conflicts of interest or external pressures (27:07-31:21).
The hosts discuss possible successors and the impact of his departure on the council's objectives, particularly regarding the Bitcoin strategic reserve (27:32-28:11).

The World's Largest Bitcoin Theft: $14.5 Billion Uncovered

The centerpiece of the episode is the revelation of a $14.5 billion Bitcoin theft, marking it as the largest Bitcoin hack ever discovered.

Overview of the Hack

Host 1 (31:30): "ARCAM uncovers a $3.5 billion Bitcoin heist, now worth $14.5 billion today."
The theft occurred in December 2020, involving the Chinese mining pool Lubian, which controlled 6% of Bitcoin's hash rate at the time (32:03).

Details of the Theft

Hackers stole 127,427 BTC, valued at $3.5 billion in 2020, which has since appreciated to $14.5 billion due to Bitcoin's price surge (31:59).
Lubian did not publicly acknowledge the hack, but Host 2 (33:29) explains that Lubian's attempt to communicate with the hackers indicates the nature of the breach: "Lubian spent 1.4 Bitcoin across 1516 different transactions to send all these messages. Which suggests that this is not a spoof from another hacker who has brute forced the private keys."
The vulnerability exploited was Lubian's algorithm for generating private keys, making them susceptible to brute-force attacks (33:33).

Current Status

Lubian retains 11,886 BTC, worth approximately $1.35 billion, while the hacker consolidated the stolen funds in July 2024 (34:35).
Arkham Intelligence, recognized for its blockchain analytics, is credited with uncovering this significant theft (34:41).
The hosts emphasize the importance of self-custody for Bitcoin holders to prevent such incidents: Host 1 (35:20): "Self custody your Bitcoin because only properly self custody Bitcoin cannot be hacked."

Conclusion and Q&A

The episode wraps up with a Q&A segment where the hosts invite listeners to engage with questions and participate in future live streams. They reiterate key points, such as the importance of self-custody in securing Bitcoin and staying informed about market and regulatory developments.

Host 1 (36:15): "Always stress caution."
Host 2 (36:16): "Just a reminder, not your keys, not your coins. Good luck moving your stolen Bitcoin."

Listeners are encouraged to visit bitcoinnewsalerts.net for a premium experience and to join live streams for real-time discussions.

Notable Quotes

Host 1 (00:58): "Bitcoin can liquidate $18 billion with a 10% price gain as traders see 120,000."
Host 2 (07:52): "We're coming for the short squeeze."
Host 1 (11:48): "Crypto debanking is still occurring as banks stick to choke point policies."
Host 1 (25:11): "US national debt explodes by $734 billion in just one month as the government begins accepting Venmo and PayPal donations to cut debt."
Host 1 (31:30): "ARCAM uncovers a $3.5 billion Bitcoin heist, now worth $14.5 billion today."
Host 2 (35:06): "ARCAM intelligence is super legit. Trade with intelligence."

Key Takeaways

Market Momentum: Bitcoin is experiencing a significant short squeeze, potentially reaching new all-time highs.
Regulatory Challenges: Crypto firms continue to face debanking issues, despite anticipated regulatory support from the Trump administration.
Industry Leadership: Michael Sailor's substantial Bitcoin holdings underscore the growing institutional interest in Bitcoin as a store of value.
National Debt Concerns: The US government's unconventional methods to address the national debt have sparked criticism and skepticism among the crypto community.
Major Bitcoin Theft: The revelation of a $14.5 billion Bitcoin theft by Lubian highlights the persistent security vulnerabilities within centralized crypto operations and the critical importance of self-custody for individuals.

Stay tuned for more updates and detailed analyses in upcoming episodes of Bitcoin News Alerts.

Loading summary

Transcript194 lines

[00:00]
T-Mobile Advertiser
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Per line via virtual prepaid card typically takes 15 days. Free phones via 24 monthly bill credits with finance agreement eg Apple iPhone 16 128GB8 2,999 eligible trade in eg iPhone 11 Pro for well qualified credits end and balance due if you pay off early or cancel contact T Mobile phone.
[00:29]
Recycling Advocate
From the Cascades to PDX to your kitchen, we recycle like we live here. That's why governments, brands and recycling companies are all joining together to bring change to make recycling better. As in trusting that your recyclables end up in the right places to be made into new things and having brands help fund the cost of recycling. You can find the Latest updates at recycleon.org Oregon From Mount Hood to the bin under your desk, together we can do this.
[00:59]
Crypto Host 1
Happy Sunday. Fun Day. Welcome everyone to the number one daily Bitcoin pod. In today's show we'll be discussing a massive Bitcoin short squeeze sending Bitcoin parabolic to a new all time high. Also, crypto debanking is still occurring as banks stick to the choke point policies. Also the Gigachad Michael Sailor is not sweating the rise of Ethereum treasury companies and he just posted the infamous Sailor tracker hinting of another massive acquisition announcement tomorrow. Or also be discussing US national debt explodes by 734 billion in just one month as the government begins accepting Venmo and PayPal donations to cut debt. Also breaking news, Bo Hinds, Director of the White House Crypto Council officially steps down. Also massive news. Our feature story of today, $14.5 billion bitcoin theft uncovered, making it the world's largest Bitcoin Bitcoin hack of all time. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
[02:08]
Crypto Host 2
If you are new to the Rumble important smash the likes give us a follow and hit the repost over on X. We're no. 1 Daily Bitcoin Pod. Today is Pod episode number 2 74. It's Sunday Funday August 10th, 2025. Happy 420 and guess what? We recapture 119 last night and earlier today. We're currently sitting at about 118.2 at.
[02:31]
Crypto Host 1
The time of the live stream still.
[02:32]
Crypto Host 2
Up over 1500 on the day and kicking it off. You can see coin360 here. Ether finally took a step back and this is a price action we haven't seen from ether since 2021. It reclaimed 4200. Even with the correction, it's still sitting above 4200. Also XRP is roughly $3.20. Salana, Tron, Litecoin all in the green on checking out coin market cap.com the current crypto market cap is coming in pretty strong today. 3.96 trillion right on the cusp of the all time high which is just north of 4,162,000,000,000 worth of volume for the past 24 hours. Bitcoin market cap is 2.351 trillion. Uh, the Bitcoin dominance is 59 and a half percent with the Ether dominance coming in at 12.9%. And check it out, top 100 crypto gainers past 24 hours. We got Radium leading the pack up 12% followed by Leo Dow up 10 and Story up 6 and then very modest gainers across the board as the majority of the market is correcting today and in the red. In fact let's check out the crypto bubbles. Get that visual perspective I dare say. Damn like 90% of the market corrective right now. And zooming out for the weekly flip.
[03:50]
Crypto Host 1
That 95% of the market in the green. Zooming out for the monthly.
[03:55]
Crypto Host 2
It's a mix.
[03:55]
Crypto Host 1
I'd say 7030 green over red and the 12 month perspective similar maybe 7030 green over red. And checking out the crypto green and fear index today it's a 69. Hey now, always a good omen in greed. Yesterday is 67, last week of 53 and last month of 71. And checking out the infamous time chain calendar today is block height 900 9429. We have 14571 blocks until having 2028. And as of today, 8-10-2025, you can exchange one fiat monopoly dollar for 846 sats. So again, one dollar will get you 846 sats. So you should know precisely what to do. You pick up the stats, put down the gas and pick up some bitcoin caps for man Sergio over@bitcoin caps.net but let's continue. I guess we'll do our TA aka astrology for the baddies. The particular headline reads right Here Bitcoin can liquidate 18 billion with 10% price gain as traders see 120,000.
[04:59]
Crypto Host 2
Take that bears.
[04:59]
Crypto Host 1
We're coming for the short squeeze. That's right. Check this out. Bitcoin neared 119. It was last night 119. Even this morning it touched 119. Currently we're just above 118 on Sunday's decisive weekly close as traders expected a strong week. And here you're looking at the one hour chart. I'll be pulling up the live charts when I'm done with this analysis here. Trading view showed Bitcoin reaching 18760 on Bitstream stamp hitting a new August high out of hours. Weekend trading saw heightened liquidations within the 24 hour crypto total hit 350 million. Here you can see the bitcoin liquidation map as per the past 24 hours via bance commenting on the market structure crypto forecast favored further progress into the next week. I think we're likely to hit that next leg up fam, what are your thoughts? Bitcoin's on the cusp of reclaiming117.2 back to support as analyst right capital shared alongside the chart. Bitcoin is hours away from a decisive weekly close and obvious obviously we got that weekly where we get that weekly close in less than 90 minutes. Popular trader Bitbull said that while weekend price moves can typically reverse as tradfi markets reopened there was hope for new all time highs. Next quoting the analysts just a 10 upward move will cause 18 billion plus and short liquidations and big money is probably a watching. My guess is that Monday could be a bit bearish with bitcoin retrace in a weekend pump. After that we can see a move of about 120000 and it's crazy how many times we retested and broke through. 120 again the current top is 1232 and we're not too far off roughly 5,000 away. This chart shows bitcoin previous bull markets to support the breakout thesis. You can see the number one, the number two and oftentimes these cycles rhyme.
[06:43]
Crypto Host 2
Merlin the trader points out Bitcoin's next move120 largest liquidity pool in weeks is sitting right above us.
[06:49]
Crypto Host 1
If you short here God help you. You can't short your dork.
[06:53]
Crypto Host 2
You can't afford that short squeeze a loading. So take that perma bears considering where the next bitcoin price zip my reverse. Meanwhile crypto investor suggests that price action continue to coincide with the gaps in the CME groups Bitcoin futures market Quoting him here there's a CME gap at116.5 which will most likely be filled this week. Bitcoin dropped 2000 to fill last week's CME gap. After that Bitcoin can rally towards a new all time high. And again the all time high is 1232 and quoting dan crypto trades most focus is on eth breaking its cycle high and alts making all kind of moves would assume Bitcoin takes the spotlight again for a bit the moment it breaks120,000 and gets close to the all time high once again. So you already know the inevitable is amongst us. But the question is when do you think we break 120 and recapture price discovery? Holla at your boy and I'll be pulling up some of the live charts.
[07:52]
Crypto Host 1
And we can do some live chart action. Jackson Satisfaction, Bo Jackson, Joe Jackson, Tony Braxton for the baddies Looking at the live charts right here via Trading View via Coinbase and we typically stick with Coinbase considering it's the largest exchange in the United States and more than half of you guys are residing in the US Though we do have a worldwide audience collectively. And here you can see on the one hour chart big red candle form.
[08:16]
Crypto Host 2
To take us back down to 118.3.
[08:19]
Crypto Host 1
Precisely where we're at.
[08:20]
Crypto Host 2
We did hit one 19 already blue.
[08:23]
Crypto Host 1
Target in play currently sitting at 119 eight just shy a 120. So the current line in the sand is that 120 mark we need to get above. A lot of the analysts are saying once we break through we're likely to recapture Price discovery again which is above one two three two and zooming out from there. Checking out the four hour. Any Nipinator indicator? Not yet but I have, I have.
[08:48]
Crypto Host 2
A feeling it's coming. You can see on the four hour.
[08:51]
Crypto Host 1
Chart two red candles of the past, you know, eight hours.
[08:54]
Crypto Host 2
Obviously every candle is a four hour interval.
[08:56]
Crypto Host 1
Prior to that we had two big green candles pushing us back, you know, to 119. No particular targets.
[09:02]
Tech Analyst
Let's analyze this week's tech innovations and startup moves.
[09:08]
Honestly Elena, I didn't track the updates but I did switch to T Mobile with their new Family Freedom offer.
[09:16]
That's not the disruption we're covering.
[09:19]
Well, I'm pivoting from AT&T and scaling up with T Mobile. They paid off my family's four phones up to $3200 and gave us four.
[09:31]
New phones on the house unicorn status.
[09:35]
T-Mobile Advertiser
Introducing Family Freedom. Our lowest cost will switch our biggest family savings all on America's largest 5G network. Visit your local T Mobile location or learn more@t mobile.com familyfreedom up to $800.
[09:49]
Per line via virtual prepaid card typically takes 15 days. Free phones via 24 monthly bill credits with finance agreement eg Apple iPhone 16128 gigabyte 82999 eligible trade in eg iPhone 11 Pro for well qualified credits end and balance due if you pay off early or cancel contact T Mobile when.
[10:01]
Zigly Fiber Advertiser
The Moore family dished cable Internet and switched to Zigly fiber, they got so much more. Mr. Moore got more upload speed for next level gaming and livestreaming to the masses with reliable service. Mrs. Moore is no longer her family's IT guru, leaving her more time to stream games into overtime.
[10:16]
Crypto Host 2
Let's go.
[10:17]
Zigly Fiber Advertiser
And young Mason Moore got more done quickly uploading HD product demos and video conferencing without freezing the numbers look good.
[10:24]
T-Mobile Advertiser
Brad, you're on mute.
[10:25]
Zigly Fiber Advertiser
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[10:31]
Crypto Host 1
On the four hour chart but we are well above the moving averages as you can see. Taking a step further out you can.
[10:38]
Crypto Host 2
See the daily chart. We have a rising wedge, a green candle already formed on the day which is great.
[10:44]
Crypto Host 1
Yesterday was an itty bitty red corrective.
[10:47]
Crypto Host 2
On Sat stack and Saturday, Friday was corrective. Then Thursday and Wednesday we had nice green candles and checking out the particular target on the daily is a bull flag. Very bullish. 146. Four again 146. Four in play according to the daily chart. And taking a step further back checking out the weekly and like I mentioned earlier in roughly 90 minutes we will get a weekly close during the live stream you can see there's a green candle for the week so the bullish momentum is back. That's a great sign. And we have 124000 cup and handle target which has been printed on the weekly chart for mostly the past year. And we came so close from already hitting it within 800 and checking out the monthly 1, 2, 3 4. So August is our fifth green consecutive month. It's a great sign. Pure bullishness. Cannot complain. I cannot. Satoshi don't even know how much he got. He Forgot. It's a lot. 1.1 million. Don't blow up his spot. But there you have it.
[11:48]
Crypto Host 1
Yo. Next story here fam. And again welcome everyone. Already over 600 people on the X feed. We're blowing up and jam pack house on the Rumble. Join the Rumble to interact in the chat, of course. Next story regarding this debanking headline reads Crypto debanking is still occurring as banks stick to choke point policies. That's my understanding why Trump had to sign the recent executive order so they can stop this unlawfulness going on with the banking institutions. Crypto firms have been facing account closures and denials of banking services for years under the label of de risking. That's right, because Obama administration and the Biden administration both had a war on crypto called operation choke point 2.0. Many in the crypto industry believe that the debanking represents a policy driven effort to suppress digital assets. Refer to operation choke point 2.0. That's not just what we think, that's just the reality.
[12:39]
Crypto Host 2
I mean those are the facts.
[12:40]
Crypto Host 1
And after President Trump's pro crypto team.
[12:42]
Crypto Host 2
Won the election, many believe the era of debanking was over.
[12:45]
Crypto Host 1
His campaign rhetoric and early policy moves signal a friendlier environment for digital assets, leading some to expect banks will ease restrictions on crypto clients.
[12:55]
Crypto Host 2
However, recent incidents suggest that practices remain entrenched. Last week Anderson Horowitz partner Alex Rample was warn that the big banks are squeezing fintech and crypto apps in Operation Choke 3.0.
[13:08]
Crypto Host 1
Those bastards.
[13:09]
Crypto Host 2
By hiking fees to access account data for or transfer funds to platforms like Coinbase or Robin Hood.
[13:17]
Crypto Host 1
Echoing those concerns, CEO of Unicorn shared.
[13:20]
Crypto Host 2
That the US banks are continuing to close accounts for crypto firms without explanation despite growing political pressure to end the practice. It seems like me this is a.
[13:29]
Crypto Host 1
Legit all on out war and that.
[13:32]
Crypto Host 2
These bastard central bankers are just going to do whatever they want to do because they recognize Bitcoin is making them extinct. And I mean what excuse do they have? We know about it firsthand as Unicorn and subsidiaries have been debanked without explanations by several banks. I say we stop supporting the banksters that don't support Bitcoin in our industry. So if you're keeping money at JP Morgan Chase, knowing how much of a fudster Jamie Demon is Epstein's banker, why bank with them? Go ahead and take all your money out of that bank and go find yourself a local credit union that's not as corrupt as Jamie Demons JP Morgan Chase again, why support Epstein's banking, you know, institution? It just makes no sense whatsoever. Stop supporting the fraud and maybe things will change. But as long as we're supporting the fraudsters, don't expect change. I mean, but anyways he listed five.
[14:27]
Crypto Host 1
Banks that cut ties with Unicorn subsidiaries.
[14:29]
Crypto Host 2
Over the past years which included Citibank, Chase, Wells Fargo, City national bank of Florida and TD Bank. Spokesperson from Chase, everyone's least favorite banking institution declined to comment. Yeah, I wonder why. It's because he's probably complicit.
[14:45]
Crypto Host 1
Yeah. I mean, or compromised. So you already know how I feel about the banksters and shout out to people like Max and Stacy who have been calling out these corrupt banking cartels for decades now. Someone here claimed that the unicorn was debanked by four banks this year alone. Suggests that choke point is a large scale nationwide operation. Exactly. You. I'm sorry. And it's not unicorn. It's unicorn. And I just defaulted to unicorn in my brain. It's unicorn is publicly reporting cooperation with six years of audited financials and over 4000 shareholders and they're denying them.
[15:17]
Crypto Host 2
That's nuts.
[15:19]
Crypto Host 1
They also added the banking campaigns have created highly disruptive, damaging conditions. Exactly. For crypto companies. The US depriving them of access to basic financial services, suppressing the American crypto industry. And that's not by accident. Clearly it's all by design. Thursday, Bloomberg reported that Trump will sign an executive order directing federal bank regulators to identify and penalize financial institutions that have engaged in the banking. Well, let's get these bastards already. The order will reportedly require regulators to review complaint data while banks overseen by Small Business Administration must work to reinstate clients who were unlawfully denied services. Let's get with the program. They also expressed that Trump's proposed executive order to curb the banking could bring relief. Quoting them here, the President knows the pain of the banking firsthand because he was the bank right and seems determined to stop this form of economic warfare against American business. He said ending the banking could help the U. S. Crypto reclaim global leadership. Ending the war on crypto will boost the American crypto industry. It may become as impactful internationally as Hollywood is in the entertainment or Silicon Valley in it. Meanwhile, Elizabeth Bickley, a partner of Fox Rothchild's tax controversy litigation practice, said that while Trump has directed agencies in Congress to review how crypto can be integrated into mainstream finance, meaningful change will depend on the final wording of regulations and laws. Which means we still got some ways to go. She pointed to the recently signed Genius act which gives the Fed stablecoins certification review committee 180 days to design a regulatory framework. She also warned that most bills in Congress never make it out of the committee and that they eventually legislation will likely face litigation from both sides of the regulatory debate. She also says for now, banks are.
[17:09]
Crypto Host 2
Likely to continue their risk adverse stance.
[17:11]
Crypto Host 1
Towards crypto until the new rules clearly reduce perceived risks. Quoting her here it is all about making risk adverse entities and people feel like crypto is less of a risk.
[17:22]
Crypto Host 2
And if you don't know, there you have it. The war on crypto allegedly continues, especially in the banking industry, which is very unfortunate and I blame Jamie Damon.
[17:32]
Crypto Host 1
Here's the the good news. He just posted the Sailor Tracker every single time he posted on a Sunday. It's a precursor to a massive acquisition announcement for strategy the following day. So I'm anticipating that. Last week he announced like a 2.4 billion,000 acquisition. So we'll see what he announces tomorrow. Headline here reads Michael Sailor is not sweating the rise of Ethereum treasury companies and here's a post he shared on X earlier today if you don't stop buying Bitcoin, you won't stop making money. This is the infamous Sailor Tracker which shows you every single time that his company purchased Bitcoin and a precursor to a big announcement being shared tomorrow. So yeah, Strategy Executive Chair and Bitcoin maxi Mikey Sailor show no signs. Worry about the growing treasury interest in Ether and other cryptos quitting them here. I think there is an explosion of innovation across the entire crypto economy and on the margin it is good for everybody in the digital asset space. I still think the vast majority of capital flowing in the space flowing into bitcoin, he added.
[18:30]
Tech Analyst
Let's analyze this week's tech innovations and startup moves.
[18:36]
Honestly Elena, I didn't track the updates, but I did switch to T Mobile with their new features Family Freedom offer.
[18:44]
That's not the disruption we're covering.
[18:47]
Well, I'm pivoting from AT and T and scaling up with T Mobile. They paid off my family's four phones up to $3200 and gave us four.
[18:59]
New phones on the house Unicorn status.
[19:03]
T-Mobile Advertiser
Introducing Family Freedom Our lowest cost will switch our biggest family savings all on America's largest 5G network. Visit your local T Mobile location or learn more@t mobile.com FamilyFreedom up to $800.
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Per line via virtual prepaid card typically takes 15 days. Free phones via 24 monthly bill credits with finance agreement eg Apple iPhone 16128 gigabyte 8 2,999 eligible trade in eg iPhone 11 Pro for well qualified credits end and balance due if you pay off early or cancel contact T Mobile.
[19:29]
Odoo Advertiser
So when I ask what is Odoo? What comes to mind? Well, Odoo is A bit of everything. Odoo is a suite of business management software that some people say is like fertilizer because of the way it promotes growth. But you know, some people also say Odoo is like a magic beanstalk because it grows with your company and is also magically affordable. But then again, you could look at Odoo in terms of how its individual software programs are a lot like building blocks. I mean whatever your business is needs, manufacturing, accounting, HR programs. You can build a custom software suite that's perfect for your company. So what is Odoo? Well, I guess Odoo is a bit of everything. Odoo is a fertilizer, magic beanstalk, building blocks for business. Yeah, that's it. Which means that Odoo is exactly what every business needs. Learn more and sign up now@odoo.com that's.
[20:27]
Crypto Host 1
O D O O.com Bitcoin dominance, which measures Bitcoin's share of the overall crypto market stands at 60 at this time according to the trading view data.
[20:37]
Crypto Host 2
And there's the man, the myth, the legend himself.
[20:41]
Crypto Host 1
First publicly traded company to adopt bitcoin put on the balance sheet back in 2020. Back then his company only had a.
[20:47]
Crypto Host 2
Market cap of 400 million.
[20:49]
Crypto Host 1
He described it the capital as a melting ice cube.
[20:52]
Crypto Host 2
I mean, and now it's north of $120 billion.
[20:56]
Crypto Host 1
And that's the difference with adopting bitcoin. And that's why we have so many bitcoin treasury firms being birthed, especially this year. Sailor also noted in the past six months the number of the companies holding Bitcoin has risen from 60 to 160. That's 100 new companies. So I am laser like focused on the biddy strategy. As you know, the largest bitcoin treasury currently with 628000 Bitcoin worth 74 billion.
[21:22]
Crypto Host 2
According to Bitcoin Treasury's data.
[21:23]
Crypto Host 1
The second largest is Mera and they're not even close.
[21:26]
Crypto Host 2
Only 50 000. So look at the gap.
[21:28]
Crypto Host 1
Michael Sailor's company 628, 000 the second.
[21:31]
Crypto Host 2
Largest 50000 more than 12 times less.
[21:34]
Crypto Host 1
Sailor predicts that Bitcoin will outperform the S and P over the indefinite future.
[21:38]
Crypto Host 2
That's a fact, Jack.
[21:39]
Crypto Host 1
I think bitcoin is a digital capital.
[21:42]
Crypto Host 2
Precisely.
[21:42]
Crypto Host 1
His comments came less than a month after bitcoin reached a new all time.
[21:45]
Crypto Host 2
High 1232 over on Coinbase July 14th before pulling back to 118 roughly. We're sitting just above 118 at the.
[21:52]
Crypto Host 1
Time of the live stream.
[21:53]
Crypto Host 2
Meanwhile, ETH is up, hitting a high we ain't seen in years, currently 4.
[21:58]
Crypto Host 1
200 up 23 over the past 30 days. The surge followed predictions from several analysts who foresaw a significant rebound after the.
[22:06]
Crypto Host 2
Drop below to 2,000. Yeah, that's right, it crashed all the way to like 1314 Honda back in March. Many market participants attribute the price spike to rising incentives, institutional and ETF demand for Ether.
[22:16]
Crypto Host 1
Also, you had Trump's son Eric Trump flexing about Bitcoin and Ether and all.
[22:22]
Crypto Host 2
The, you know, short traders getting wrecked. So clearly the Trump family is bullish.
[22:27]
Crypto Host 1
Not just on Bitcoin but Ethereum as well.
[22:29]
Crypto Host 2
Also bit mine holds 833,000eth worth 3.2.
[22:33]
Crypto Host 1
Billion, the fourth largest holdings company that holds any crypto.
[22:36]
Crypto Host 2
And then Sharp Link and the ether machine hold 2 billion and 1.1 34.
[22:41]
Crypto Host 1
Billion worth of ETH and respectively, while.
[22:43]
Crypto Host 2
The Ethereum foundation and Pulsechain round out the top five. But there you have it. Yo, let me know how much you anticipate Sailor making the announcement for the.
[22:52]
Crypto Host 1
Purchase and I'll read your comments out loud.
[22:55]
Crypto Host 2
And also, as you know, he initially outlined the 2121 plan, which means using.
[23:01]
Crypto Host 1
$21 billion raised to purchase Bitcoin.
[23:04]
Crypto Host 2
They doubled that more recently, it's now the 4242 plan, which means he has another $42 billion to raise to buy more of the BTC.
[23:12]
Crypto Host 1
But anyways, let's keep it moving. Still lots to share as we're approaching the top of the hour. Welcome everyone joining us. All hail Fed chair dog Nip. US national debt explodes by 734 billion in just one month. That's like three quarters of a trillion in 30 days as the government begins accepting Venmo and PayPal donations to cut the debt. Best of luck with that. Government as you can see here, the US government is now accepting donations via PayPal and Venmo to help reduce the national debt, which ballooned by a whopping 734 billion in one month. And according to the US Treasury, America's national debt jumped from 36 trillion on July to 36.9 trillion on August 6th. And over the next decade, the recent passage of President Trump's One Big Beautiful Bill act is expected to add more than 3 trillion to the national debt, largely due to tax cuts, according to the Congressional Budget Office. The Trump Admin has disputed the estimate, and while the US Treasury Department has long operated a pay.gov site that allows for donations to reduce the national debt. It appears that payment options like PayPal and Venmo were recently added. They must be getting desperate. In addition to the usual bank account or credit card donation options, donors can make the different payment selections under Gifts to render Reduce the public debt. Who in their right mind would be donating money to the US Government to reduce the debt when they're just going to continue to print like there's no tomorrow? It it's just crazy. The new payment options just garnered a lot of attention near NPR host Jack Corbett flagging them on X. Since 96 data show the government has received 67 million in gifts. To me, that is just mind boggling that they actually received 67 million in donations to reduce the debt. Do you know how much that helped reduce the debt? Probably did absolutely nothing, which measures how the US owes to its creditors. And a year ago the US national debt stood at 35 trillion. And like I said earlier, with the new bill by Trump, that's going to.
[25:12]
Crypto Host 2
Add another 3 trillion to the debt.
[25:14]
Crypto Host 1
And it's impossible. It's impossible to pay down that debt. So please buy Bitcoin versus sending donations to the US Government. Not financial advice, but I just do not recommend donating to the US Government.
[25:29]
Crypto Host 2
You want to donate, find the good cause where 100 of the donation actually goes to the, you know, the people that need the help, whether it's a.
[25:38]
Crypto Host 1
Dog shelter, children, you name it.
[25:40]
Crypto Host 2
There's plenty of good organizations out there. Do not donate to the US Government. What are they going to do? Send it to the Ukraine and use it to weaponize us and spark more wars?
[25:50]
Crypto Host 1
But anyways, next story. You should be able to see the headline here. Bo Hinds, Director of the White House Crypto Council steps down. It's crazy because the Crypto council number one was just formed and he was just introduced. So I wonder why, like why he really stepped down. Let's try to uncover it, the story goes. Bo Hinds, the Executive director of US President Trump's White House Crypto Council, announced he is stepping down on Saturday. Hinds, who was appointed by the President to lead the advisory group in December of 2024, said he's stepping down to rejoin the private sector and thank the crypto community for its unwavering support. Quoting him here. Serving in President Trump's admin and working alongside our brilliant AI and cryptos are David Sachs. As Executive Director of the White House Crypto Council has been an honor of a lifetime. Together we have positioned America as the crypto capital of the world and it goes a little deeper. Here's the official post from Bo Hinds on access timestamp August 9, which was yesterday at 4:39pm he also goes on to say, I love this community and all we've built together. As a return to the private sector. I look forward to continuing my support for the crypto ecosystem as it thrives.
[26:59]
Crypto Host 2
Here in the United States.
[27:01]
Crypto Host 1
Now, as a conspiracy theorist with a permanent tinfoil hat under the cap that I rock on the show, I lead.
[27:08]
Crypto Host 2
To believe like what's really going on.
[27:10]
Crypto Host 1
And I'll share some of my insights and thoughts when I'm done reading and entertaining this story. Although a successor has not yet been named, independent crypto reporter Eleanor Tourette said.
[27:20]
Crypto Host 2
That Heinz Deputy Director Patrick Witt will.
[27:23]
Crypto Host 1
Likely be appointed to the position. Let me know if any of you guys ever heard of that guy. I've never heard of the name the White House Crypto Council published a comprehensive report proposing a regulatory action plan for.
[27:33]
Crypto Host 2
Digital assets in the US In July.
[27:35]
Crypto Host 1
Although the advisory group has been instructed instrumental and guiding policy efforts, critics say the Council under delivered on the strategic Bitcoin reserve. Yes, because the point is they have not purchased any Bitcoin or use any net neutral strategy to do so, though they have.
[27:50]
Crypto Host 2
The green light is my understanding, because.
[27:52]
Crypto Host 1
There was the Executive order which was signed into office. But you can see Bo Hines alongside President Trump right here. So you guys got to let me.
[27:59]
Crypto Host 2
Know why you think he stepped down.
[28:01]
Crypto Host 1
And I'll just dive a little deeper here. Hines advocated for the accumulation of Bitcoin through budget neutral strategies. Respect Trump signed the Executive Order, as you know, establishing the Bitcoin strategic reserve.
[28:11]
Crypto Host 2
And a national crypto stockpile that was back in January. However, the order limited how government could acquire additional bitcoin.
[28:18]
Crypto Host 1
The Executive order prohibits the federal government.
[28:20]
Crypto Host 2
From selling any of the US Government's.
[28:22]
Crypto Host 1
Accumulated Bitcoin and directs the Treasury Department.
[28:24]
Crypto Host 2
And the Commerce Department to find budget.
[28:26]
Crypto Host 1
Neutral strategies to accumulate more of the digital currency. And if you missed the pod I did the other day, discussing how they.
[28:33]
Crypto Host 2
Can use gold is pretty let's map.
[28:36]
Tech Analyst
Out this week's amazing destinations and travel tips.
[28:40]
Honestly Will, I didn't plan any trips, but I did switch to T Mobile with their new family Freedom offer.
[28:47]
Crypto Host 1
That's not the itinerary we're following.
[28:50]
Tech Analyst
Well, I'm departing from ATT and embarking on a new journey with T Mobile. They paid off my family's four phones up to $3200 and gave us four new phones on the house.
[29:03]
Crypto Host 1
Bon voyage.
[29:05]
T-Mobile Advertiser
Introducing family Freedom Our lowest cost to switch our biggest family savings all on America's largest 5G network. Visit your local T Mobile location or learn more@t mobile.com FamilyFreedom up to $800.
[29:19]
Per line via virtual prepaid card typically takes 15 days. Free phones via 24 monthly bill credits with finance agreement eg Apple iPhone 16128 gigabyte $8,029.99 Eligible trade in eg IPH well qualified credits end and balance due. If you pay off earlier, cancel contact.
[29:30]
Crypto Host 2
T mobile phenomenal strategy another net neutral way to acquire, you know, 1, 2, 3 million Bitcoin for the United States.
[29:37]
Crypto Host 1
Now budget neutral strategy means that the.
[29:40]
Crypto Host 2
Only way the US government can acquire the new Bitcoin for the reserve is through asset seizures or ways that do not create additional burdens on the US public budget. And the fact is there's a lot of creative ways to do that.
[29:51]
Crypto Host 1
In March, Hein suggested the US Government.
[29:53]
Crypto Host 2
Should revalue its government gold holdings. Yes, please. Which is currently priced at $42 per troy ounce, while gold trades at about $3,400 per ounce on the spot market.
[30:05]
Crypto Host 1
A portion of the revalue goal could.
[30:06]
Crypto Host 2
Then be converted to Bitcoin. That's what I'm saying. Increasing the size of the national bitcoin reserve without creating a budget expense. Get rid of the yellow metal and buy the hardest asset to ever exist.
[30:18]
Crypto Host 1
The apex predator.
[30:19]
Crypto Host 2
There is no second best.
[30:21]
Crypto Host 1
So yeah, back to conspiracy theories.
[30:23]
Crypto Host 2
I lead to believe there's probably something a lot deeper. He didn't really explain why he stepped down. And for him to step down like that after serving the White House and President Trump, probably living his life's dream, leads me to believe there's some sort of conflict of interest and he doesn't want to be a part of it. I don't know whether that's to do.
[30:42]
Crypto Host 1
With maybe he's not on the Epstein.
[30:46]
Crypto Host 2
Client list and they don't have any blackmail over his head and maybe the.
[30:49]
Crypto Host 1
US just wants to get rid of.
[30:50]
Crypto Host 2
Him and said, you know what, just step down.
[30:52]
Crypto Host 1
Or whether he's like, oh, I don't.
[30:54]
Crypto Host 2
Want to be involved.
[30:55]
Crypto Host 1
Whatever this nefarious activity is going on.
[30:58]
Crypto Host 2
At the White House, I just stand down. No more White House parties with the Biden family. Hunter Biden? Yeah, I mean, I don't want to see him in my presence with, with, you know what I mean, with his drugs anymore at the White House. Maybe they'll think I'm like him and.
[31:13]
Crypto Host 1
I'm nothing like Hunter Biden. Again, I'm just speculating, just thinking out loud.
[31:18]
Crypto Host 2
Why do you think he stepped down? Your guess is as good as mine.
[31:21]
Crypto Host 1
Because I can tell you the official.
[31:23]
Crypto Host 2
Story is 99 of the time never true.
[31:27]
Crypto Host 1
And I think you guys would agree. All right, fam. Now for our future story of the day.
[31:30]
Crypto Host 2
Breaking news.
[31:31]
Crypto Host 1
ARCAM uncovers a three and a half billion dollar heist. The largest bitcoin heist of all time. And that bitcoin is now worth 14 and a half billion dollars.
[31:42]
Crypto Host 2
That's right.
[31:43]
Crypto Host 1
And I'll be breaking down this thread from Arkham Intelligence doing a deep dive. There was another article published here regarding it. Unreleased reported 3 and a half billion Bitcoin hack from 2020 dwarfs the Mount.
[31:54]
Crypto Host 2
Gox in value worth 14 and a half billion today. So let's go ahead and do the deep dive.
[32:00]
Crypto Host 1
Shout out. Aram And I was right. It is a Chinese mining pool.
[32:03]
Crypto Host 2
Check it.
[32:04]
Crypto Host 1
Lubian was a Chinese mining pool with facilities in China and Iran. Based on analysis of the on chain data, it appears 127427 BTC was stolen.
[32:18]
Crypto Host 2
From Lubian in December of 2020.
[32:21]
Crypto Host 1
So literally five years ago at the time of the hack, the bitcoin was.
[32:24]
Crypto Host 2
Worth three and a half billion. And now that bitcoin is worth fourteen and a half billion dollars. Neither Lubian nor the hacker have publicly acknowledged the hack.
[32:36]
Crypto Host 1
That's why most people don't know this.
[32:37]
Crypto Host 2
Story and we're assuming as JV just making up. No, this is the real deal. ARCAM is the first to report it. So let's break down this breaking news. Here we go.
[32:46]
Crypto Host 1
I'm going to read with you this.
[32:48]
Crypto Host 2
Entire thread by Arcam and you can.
[32:50]
Crypto Host 1
See they posted already.
[32:51]
Crypto Host 2
847000 views.
[32:54]
Crypto Host 1
Lubian was the world's largest mining pool.
[32:56]
Crypto Host 2
Back in 2020, controlling 6% of the Bitcoin's total hash rate as of May of 2020.
[33:04]
Crypto Host 1
They appear to have first been hacked December 28th. Wow. It's three days after Christmas in 2020 for over 90% of their Bitcoin. Subsequently, on December 29th, around 6 million of additional Bitcoin and USDT was stolen from Lubian. Address active on Bitcoin omni layer on the 31st, Lubian rotated the remaining funds to recovery wallets. It gets interesting.
[33:29]
Crypto Host 2
Each hacker address receive op underscore return.
[33:33]
Crypto Host 1
Message shown in the screenshots in which Lubian asked the hacker to return their funds. Lubian spent 1.4 Bitcoin across 1516 different transactions to send all these messages. Which suggests that this is not a spoof from another hacker who has brute force the private keys. And it's all outlined there with all the proof of work and the images. It appears that Lubian was using an algorithm to generate its private keys that was susceptible to brute force attacks. This may have been the vulnerability exploited by the hackers. Lubian preserved 11,886 BTC currently worth 1.35 billion, which they still hold. The hacker who still holds the stolen Bitcoin with their last known movement being a wallet consolidation in July of 2024. So with three and a half billion in stolen assets at the time of transfer, Lubian hack is the largest of all time owning to Bitcoin's price appreciation since 2020. The current value of distilling assets is.
[34:35]
Crypto Host 2
Now 14 and a half billion and it's going up forever. Laura, making the lubian hacker the 13th.
[34:41]
Crypto Host 1
Largest Bitcoin holder on Arkham, ahead of the Mt.
[34:45]
Crypto Host 2
Gox hacker. Crazy.
[34:47]
Crypto Host 1
Now all of this has the proof of work. ARCAM intelligence is super legit. 1.6 million followers as it says here. Trade with intelligence, crypto exchange and blockchain analytics platform. I dare say they're like the number one best at tracking things on chain using the blockchain. Also there's you know, companies like Glass.
[35:06]
Crypto Host 2
Node analytics and such which are pretty good as well.
[35:09]
Crypto Host 1
And moving back to the story here, it says this heist was executed five.
[35:13]
Crypto Host 2
Years ago, but only discovered this week. So that's why this is breaking news.
[35:18]
Crypto Host 1
And that's why I'm taking the time to share this with you.
[35:20]
Crypto Host 2
I bet you most of you guys probably never heard of this. Intelligence agents uncovered the largest ever Bitcoin highest 127426 BTC at today's value. At the time of the hack, as I mentioned, it was only three and a half billion, but that is obviously very substantial and it's crazy to fathom how much money that hacked Bitcoin is going to be worth in the future because we're talking over 100,000 BTC. But there you have it. Yo, that's the latest. And just a reminder, self custody your bitcoin because only properly self custody Bitcoin cannot be hacked. Yeah, I mean things on mining pools or centralized exchanges. Yeah, I mean not your keys, not your cheese, things like that become honey pots to bad actors and anything can happen. Yeah, I mean, so it's better to be safe than to be sorry.
[36:15]
Crypto Host 1
So always stress caution.
[36:17]
Crypto Host 2
Just a reminder, nacho keys, not your coins. Good luck moving your stolen bitcoin It's a blockchain that's validated, secured. SHA 256. Your address is publicly known. Exactly. So the exchanges could put you on, like, a. A blacklist where, you know, if you put funds into their exchange, they freeze your assets. Yeah. I mean, so watch out. Money launderers.
[36:38]
Crypto Host 1
But. Exactly. Good point there, Greg. And again, welcome everyone. This is a Q A segment of the live stream. We just discuss all the breaking news stories on the day. If anyone has any particular questions, feel free to ask. I'm happy to hang out and read your comments out loud, address questions and chillax with the bitty fam. And don't forget to check out bitcoinnewsalerts.net for the full premium experience with video and to participate in the live stream along with the Q and A. And I look forward to seeing you on tomorrow's episode Huddle.