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Sam Kessler Profile picture
Sam Kessler
@skesslr
Deputy Managing Editor @coindesk reporting on memes, dreams, and schemes // skesslr(at)https://t.co/TSmUWFNW1z // sam.kessler(at)https://t.co/kv0sPR1fjH (pitches)
Oct 2 • 10 tweets • 5 min read
SCOOP: My latest investigation exposes how DPRK IT workers have embedded themselves deep into the fabric of the crypto industry.

More than a dozen projects confirmed that they inadvertently hired workers from the DPRK – exposing themselves to massive security and legal risks.

🧵

coindesk.com/tech/2024/10/0… North Korean IT workers with fake identities got jobs at @cosmos, @SushiSwap, @yearnfi, @FantomFDN, @zerolendxyz and several other big-name blockchain protocols.

This investigation marks the first time any of these projects have publicly disclosed that they unknowingly hired the workers.

2/
Oct 27, 2022 • 13 tweets • 3 min read
The leading rollups (Optimism and Arbitrum) – while impressive/important – are still WAY more centralized than people realize.

Here's how 🧵

1/13 Arbitrum and Optimism comprise 80% of the rollup market today (>$3B TVL).

Both reduce gas fees by ~95%

They are pitched as secure alternatives to sidechains and commit chains – scaling solutions that pass data to Ethereum without correctness guarantees

2/13
Oct 18, 2022 • 13 tweets • 4 min read
After an investor lost access to its Terra wallet in 2019, a chain fork quietly moved its funds — 9M $LUNA — from one wallet to another.

The excellent @laurashin asked @stablekwon why this was swept under the rug.

Here’s how my sources and I uncovered what happened 🧵 In the process of upgrading the Terra blockchain from Columbus-1 (version 1) to Columbus-2 (version 2) in June 2019, Terra instructed validators to run a script which discretely moved 9 million $LUNA (worth >$1B at peak) from one wallet to another.

github.com/terra-money/co…
Oct 17, 2022 • 4 tweets • 1 min read
Reminder: No rollups fully "borrow Ethereum's security" as claimed.

*All* rollups – Arbitrum & Optimism included – have tons of limitations right now (ie. fully-permissioned/non-existent fraud proofs)

Upcoming zkEVMs will be even more limited. Why is this a problem?

Current marketing from Layer 2s might mislead consumers into thinking that they are using platforms with 100% equivalent security to Ethereum.

They're not.

Today's rollups can be exploited and carry different degrees of centralization/censorship risk.