Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From the biggest Bitcoin heist that nobody talked about and Arthur Hayes going full bear mode to Tim Cook's AI wake-up call and corporate Ethereum hoarding, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets!

INTEL BRIEF

🟧 Arkham Intelligence retroactively discovered that Chinese mining pool LuBian was hacked for 127,426 Bitcoin ($3.5B at the time, now worth $14.5B) in 2020, making it the largest crypto heist in history that somehow flew under everyone's radar for years.

🟧 Arthur Hayes warns Bitcoin could drop to $100K due to weak jobs data, tariff fears, and sluggish credit markets, backing up his bearish stance by selling over $13M in crypto assets including ETH, ENA, and PEPE.

🟧 Apple CEO Tim Cook held an urgent all-hands meeting telling employees that Apple "must" win in artificial intelligence, acknowledging the company has fallen behind competitors while promising significant AI investment increases.

🟧 SharpLink continues its massive Ethereum buying spree, purchasing another $54M worth of ETH to reach total holdings of 480,031 ETH valued at $1.65 billion, while other corporations like The Ether Machine also accumulate massive ETH treasuries.

The $14.5 Billion Bitcoin Heist That Stayed Secret for Years

Arkham Intelligence just dropped a bombshell that's got the crypto world doing double-takes. Apparently, back in 2020, while we were all arguing about whether Bitcoin would hit $20k again, the single largest cryptocurrency hack in history was happening right under our noses!

Chinese mining pool LuBian got absolutely rekt on December 28, 2020, losing a whopping 127,426 Bitcoin (that's $3.5 billion for those keeping score at home, or roughly $14.5 billion at today's prices). Both the hackers AND LuBian decided to play the world's most expensive game of "let's pretend this never happened."

The attack was believed to be so stealthy that it makes ninja moves look clunky. About 90% of LuBian's Bitcoin vanished, leaving only 11,886 BTC that the pool managed to shuffle into recovery wallets like digital leftovers.

LuBian speculated that their private key generation algorithm was about as secure as a chocolate teapot. The hackers likely used brute-force attacks to crack their keys, which is basically the crypto equivalent of trying every possible combination on a really, really expensive safe.

LuBian embedded 1,516 OP_RETURN messages to the hacker's wallet addresses, costing them 1.4 BTC just to essentially leave digital sticky notes saying "hey, that's ours!"

This massive heist makes previous "record-breaking" hacks look like pocket change, including ByBit's $1.5 billion loss and that unfortunate elderly individual who got social-engineered out of $330 million.

127,426 Bitcoin stolen from Chinese mining pool LuBian in 2020, worth $14.5B today

Largest crypto hack ever went unreported by both victim and hacker for years

Weak private key generation likely enabled brute-force attack on the mining pool

Arthur Hayes Dumps $13 Million in Crypto While Warning of $100K Bitcoin

The Maelstrom Fund CIO has gone full doom-and-gloom prophet, warning that Bitcoin could tumble back to the $100,000 level. And unlike most crypto Twitter personalities who talk a big game while secretly HODLing, Hayes actually put his money where his mouth is by dumping over $13 million worth of crypto.

The man sold $8.32 million in ETH, $4.62 million in Ethena (ENA), and $414,700 worth of PEPE. His wallet now looks like a digital fortress with $22.95 million parked in USDC - the crypto equivalent of hiding cash under your mattress, but way more sophisticated.

The Non-Farm Payrolls report dropped harder than a new trader's first leveraged position, showing only 73,000 new jobs added in July. That's believed to be a sign that the economy might be more fragile.

Hayes is pointing fingers at sluggish credit growth and potential renewed tariffs as the villains in this economic thriller. He argues these factors could drag both Bitcoin and Ether down to the $100K and $3,000 levels respectively - which would mark an 18.7% correction for Bitcoin from its current levels.

Not everyone's buying Hayes' bearish buffet. Bloomberg ETF analyst Eric Balchunas thinks Bitcoin has evolved past its "vomit-inducing drawdowns" era. Meanwhile, Blockware Solutions' Mitchell Askew speculates that "the days of parabolic bull markets and devastating bear markets are over."

Arthur Hayes sold $13M+ in crypto amid warnings Bitcoin could drop to $100K

Weak jobs data and tariff fears driving his bearish outlook on macro conditions

Some analysts disagree, believing Bitcoin's volatility days are behind us thanks to institutional adoption

Tim Cook Admits Apple Is Behind in AI During Emergency Meeting

Apple CEO Tim Cook just held what sounds like the corporate equivalent of a locker room speech before the championship game, gathering all Apple employees for an hour-long all-hands meeting with one crystal clear message: "Apple must do this. Apple will do this. This is sort of ours to grab."

Now, when the CEO of the world's most valuable company feels the need to channel his inner motivational speaker, you know things are getting spicy in the AI kitchen! This heart-to-heart came hot on the heels of an earnings call where Cook promised investors that Apple would "significantly" increase its AI investments.

Cook basically admitted that Apple has been playing AI catch-up like a student cramming for finals. The company's Apple Intelligence features have been rolling out, but their promised Siri upgrades have been delayed more times than a flight during a snowstorm.

But Cook deployed some classic Apple spin, reminding everyone that being first isn't always being best. "We've rarely been first," he reportedly said, name-dropping how there were PCs before Macs, smartphones before iPhones, and tablets before iPads. Apple might show up fashionably late to the party, but they usually end up owning the dance floor.

While competitors like OpenAI, Google, and Microsoft have been making AI headlines, Apple has been quietly working behind the scenes (or scrambling to catch up, depending on your perspective).

This meeting speculated to be Apple's way of rallying the troops for what could be the most important technological race of the decade. After all, in a world where your toaster might soon have ChatGPT, Apple can't afford to be the company that makes "dumb" devices!

Tim Cook held urgent all-hands meeting emphasizing Apple "must win" in AI competition

Apple acknowledges falling behind competitors despite launching Apple Intelligence features

CEO promises "significant" AI investment increases while citing Apple's history of perfecting existing technologies

SharpLink Goes Full Ether Goblin Mode with Another $54M Shopping Spree

The corporate whale just dropped another $53.9 million on 15,822 ETH, bringing their absolutely bonkers total holdings to 480,031 ETH worth approximately $1.65 billion.

Over the past 48 hours, SharpLink has been on an ETH buying rampage that would make a Black Friday shopper blush, spending $108.57 million in USDC to scoop up 30,755 ETH at an average price of $3,530. Their largest single transaction? A casual $23.56 million purchase of 6,914 ETH.

The Ether Machine (yes, that's actually their name, and yes, it's perfect) also joined the corporate ETH party by adding 15,000 ETH worth $56.9 million to their treasury. This speculated strategic move pushed their holdings to 334,757 ETH, officially making them the third-largest corporate ETH holder and surpassing even the Ethereum Foundation itself.

According to NoOnes CEO Ray Youssef, corporations are believed to be viewing Ethereum as the "hybrid between tech equity and digital currency.” With 58.1% dominance in the $13.4 billion real-world asset market, Ethereum isn't just a cryptocurrency anymore; it's becoming the digital infrastructure backbone that forward-thinking companies can't afford to ignore.

The Ether Machine is planning to go public under ticker ETHM later this year, targeting a $1.6 billion raise.

SharpLink bought $54M more ETH, bringing total holdings to 480,031 ETH worth $1.65B

The Ether Machine added $57M in ETH, now holding 334,757 ETH as third-largest corporate holder

Corporate treasury strategies shifting toward Ethereum as digital infrastructure and reserve currency

And that's a wrap, my lovely PoI readers! 💎 I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). From secret billion-dollar heists to corporate treasury strategies, it's been quite the journey through crypto's latest drama! Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

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