Weekend Wrap: Ether Strategy’s wrong address, El Salvador’s Satoshi statue and more

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Oops! Ether Strategy’s Wallet Blunder and Other Crypto Shenanigans! 😂💸

So, Ether Strategy, which is basically trying to be the cool kid on the blockchain block, just had a little whoopsie. They blamed a UI misconfiguration for a *tiny* incident where users accidentally deposited 165 Ether—worth a whopping $414,000—into the wrong wallet. You know, just a casual mistake before they decided to fold like a cheap lawn chair due to a lack of interest. 🙈

In a post on X (formerly Twitter, because rebranding is all the rage), they said this little mishap happened during their testing phase. You know, the phase where you’re supposed to test things before you launch them. Classic! 🙃

“In this short amount of time, 165 ETH was deposited by users to the incorrect address,” they said. Well, at least they fixed the UI immediately! Because nothing says “trust us” like a quick fix after losing a small fortune. 💁‍♀️

They assured everyone that the deposit contract was safe and that existing depositors were not affected. But, plot twist: just a day later, they announced they wouldn’t be launching in their current state. Shocking, right? 😱

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“There was not enough interest/demand to justify launching the DAO in the current state,” they said. So, basically, they’re going back to the drawing board. Good luck with that, team! 🎨✏️

Previously, they claimed users offered over 40,000 Ether in precommitments, which is like saying, “Hey, we had a party, but nobody showed up.”

El Salvador gets its own disappearing Satoshi Statue

In other news, El Salvador just unveiled a disappearing statue of Bitcoin’s mysterious founder, Satoshi Nakamoto. Because nothing says “I love crypto” like a faceless figure working on a laptop. Talk about relatable! 😂

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Valentina Picozzi, the artist behind this masterpiece, said it’s a tribute to Nakamoto, just like her other creation in Lugano, Switzerland. Because if you’re going to honor a ghost, you might as well do it twice! 👻

The statue is designed to be seen clearly from the side, but if you look at it from the front or back, it’s like, “Surprise! I’m not really here!” Just like your ex when you need them to help you move. 🙄

“The statue itself wants to give the viewer this feeling of disappearance,” she said. Well, it certainly does that! It’s like a metaphor for all the money I’ve lost in crypto. 💔

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Picozzi, who is also an orthodontist (because why not?), found Bitcoin in 2012 and has been an activist artist ever since. Talk about a career pivot! 🎨🦷

Australian feds warn 5,000 Aussies about Philippine crypto romance scheme

Meanwhile, in the land down under, the Australian Federal Police are warning 5,000 Aussies about a Philippine-based crypto romance scheme. Because nothing says “I love you” like a scam! 💔💰

In a statement, the AFP revealed that they found over 5,000 Australian phone numbers linked to messages on an encrypted platform. Sounds like a bad rom-com waiting to happen! 📞💔

Last October, Philippine authorities arrested 250 people in a raid, confiscating 300 computer towers and 1,000 mobile phones. I mean, that’s a lot of tech for a “romantic” getaway! 😅

The scammers posed as either a Filipino female in Australia or a local gal in the Philippines, luring victims with promises of love and then asking them to invest in “legitimate” cryptocurrency. Classic! 💌💸

They’d request between $183 and $489 before convincing the victim to invest even more. It’s like a bad Tinder date that just keeps asking for money! 😩

Japan says it will finalize crypto tax reform by end of June

And finally, Japan’s Finance Minister Katsunobu Kato has announced that they’ll review their crypto tax laws by the end of June. Because nothing says “we care” like a tax reform that’s two years overdue! 🗓️

According to a report, Kato said the Financial Services Agency would lead the review. “We are discussing the matter in line with the 2025 Tax Reform Outline,” he said. Sounds like a thrilling meeting! 🥱

Currently, Japan’s tax system requires crypto traders to report their profits, which critics say is stifling growth. So, basically, they’re trying to figure out how to make it less painful to invest in crypto. Good luck with that, Japan! 🍣💸

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2025-02-03 09:55