$285 million in crypto — gone. Two hackers stole over 4,100 Bitcoin from a billionaire, but they didn’t get away with it. Plus, tips for using Perplexity AI, a shocking Titan submersible update, and a fantasy football fan caught sending fake threats.
A small town in Texas will soon house the world’s biggest bitcoin mine
Corsicana, Texas is a small town an hour away from Dallas. They kicked off the oil boom in the South 130 years ago, turning their land into a money-making machine. Today, it’s the kind of dreary town you don’t stop in because there’s nothing memorable.
The oil dried up long ago, and so did all the money. Corsicana is trying to recapture the magic they once had, this time with the world’s largest bitcoin mine. When I read about what was happening, I knew you’d find it interesting, too.
A new money revolution
In Corsicana, the Riot bitcoin facility is under construction on a massive 265-acre site. The operation is still in the planning phase, and Riot is in the middle of negotiating the details with the local government. One thing that’s certain at this point? Many residents aren’t welcoming the new facility.
To explain why, let’s look at how this operation translates into real-life money. Mining a single bitcoin (currently worth more than $66,000) requires a ton of computer power. That’s the beauty of these large facilities, where powerful computer chips can work together. They run complex math equations, and whoever owns the computer chip that solves the math equation becomes the owner of that bitcoin.
Since the servers do all the work, the process is pretty passive for those in charge. In essence, bitcoin mines turn raw computing power into real money.
In a town that desperately needs cash, it sounds almost too good to be true. So, what’s the catch?
‘Quality of life’
… At least, that’s what the Texas Coalition Against Crypto Mining says. The grassroots movement was formed after crypto mining facilities disrupted life in several other Texas towns.
Take Granbury, population 13,000. They learned a little too late bitcoin mines can be very, very loud. Computer components get hot when they’re working at max capacity around the clock, and most bitcoin mines use air cooling to keep them running.
The sound of hundreds or even thousands of components running all day can be heard for miles. Imagine how frustrating it must feel to wake up to that day after day.
The energy tax
🏴☠️ Yarr, the booty: Bitcoin millionaire Jon Collins-Black set up a real-life treasure hunt to promote his new book, “There’s Treasure Inside.” He buried five treasure chests worth over $2 million across the country. They’re filled with actual treasure, too — items owned by Pablo Picasso and George Washington, shipwreck bounty, gold, and rare Pokémon cards. Such a great marketing idea!
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$3 million
The value found within a bitcoin wallet that was unlocked after 11 years. Its owner had forgotten his password and contacted an ethical hacker to regain control of his crypto. Good thing, too — when he lost access to his wallet originally, its contents were only worth $3,000 to $4,000.
🤑 Swimming in bitcoin? Cryptocurrency values are off the charts right now. The IRS also noticed and is ready to tax all your sweet gains. There are new rules (paywall link) coming next year. Brokers will have to report all crypto sales, and you can now donate up to $18,000 to charity each year tax-free. I’m sure some will try to use the word “charity” very loosely.
🎣 Reeled in a big one: A 33-year-old Nigerian man was sentenced to 10 years for a phishing scam that stole $20 million in nest eggs from over 400 U.S. homebuyers. He sent phishing emails to real estate professionals, tricking them into providing their login credentials. Using those, he redirected home purchase payments to compromised accounts and laundered the money into bitcoin via Coinbase, according to the DOJ.
🚨 North Korean hackers are targeting Macs: It starts with an email containing a fake crypto news headline, like “Hidden Risk Behind New Surge of Bitcoin Price,” and includes a link to a PDF. The link actually leads to a malicious app that lets the sender take control of your system. If you’ve clicked on a random PDF link recently, scan for malware ASAP.
🤑 Detroit block(chain) city: Starting in 2025, Detroit residents can use currencies like bitcoin and ethereum to pay for public services and even their taxes. Crypto will be converted into dollars via PayPal. The goal: To attract more tech-savvy residents and tech companies to the city.
💸 Is the mystery solved? A new HBO documentary, “Money Electric: The Bitcoin Mystery,” claims Canadian developer Peter Todd is the mystery man behind bitcoin. Todd, of course, has denied he’s the real Satoshi Nakamoto, and he’s now in hiding. If it’s true, though, he holds the keys to over a trillion dollars in crypto. Check out the trailer — looks good!
⚠️ Targeting older adults: A 76-year-old man was duped out of $740,000 by criminals pretending to be government officials (paywall link). He had trouble logging into his retirement account and received a message from the firm (complete with a legit logo), telling him to call the fraud department. He sent money via bitcoin, wire transfers and gold to “secure” places. PSA: Government agencies will never call and tell you to move your money.
Not the sharpest hacker for sure: Back in January, the SEC’s X account was hacked to post fake news about bitcoin, causing its value to spike. Now, a man’s been arrested, and court docs show some pretty incriminating searches. One gem? “What are some signs the FBI is after you?” You’d think a hacker would know how to hide their search history.
69,370 bitcoins
Headed for the U.S. Treasury. It’s the stolen proceeds from the Dark Web drug marketplace Silk Road, valued at $4.6 billion at current prices. It took four years for the government to establish ownership. Crazy twist: The agent who secured the money is sitting in jail.
💸 $260 million heist: Two men were arrested at a Florida mansion, surrounded by jewelry and luxury cars, after stealing 4,100 in bitcoin from a Washington, D.C., tech billionaire. The scammers laundered the money through crypto exchanges and went on a wild spending spree (paywall link). I bet the scammers SIM-swapped the billionaire’s phone. Here’s how it works and how to protect yourself.
Repeat after me: Elon isn’t hawking crypto on YouTube: The AI deepfake Elon livestream ran for five hours, attracting over 30,000 concurrent viewers. It told folks to deposit ethereum, dogecoin or bitcoin on a site promising to double their money. Poof! It all went into someone else’s wallet.
Blessing in disguise: Back in 2013, a guy lost access to his digital crypto wallet filled with 43.6 bitcoin. The file with his 20-character password got corrupted, and it seemed like the money was lost forever. Fast-forward to now: Some very smart hired help cracked the code, and the guy’s now sitting on nearly $3 million. Bet he’s really glad he didn’t sell early.
$161 million in bitcoin
Purchased by the state of Wisconsin. It’s the first state to invest in the newly approved bitcoin EFTs. I always say you shouldn’t invest in crypto unless you can afford to lose it. Hope that’s true for the Wisconsin state pension fund.
Smoke and mirrors: The fourth bitcoin “halving” just slashed mining rewards in half — from 6.25 to 3.125 per block. Translation: Bitcoin will become 50% harder to find. This is the oldest marketing trick in the book. As it gets rarer, it becomes more valuable, and more people buy in at that increased price … until they stop buying altogether and it all crashes. Remember: The intrinsic value of bitcoin is exactly zero.
The coming Bitcoin value increase
The dollar value of the cryptocurrency is expected to rise — but here’s why it’s all smoke and mirrors.
No, Sen. Elizabeth Warren isn’t saying bitcoin is the way to go. A tweet from Bitcoin Magazine falsely claimed she honored bitcoin’s creator with a Capitol flag. Reality check: It’s part of a standard flag-flying service. Over 100,000 flags are flown yearly.
Will the real Satoshi please stand up? The quest to unmask Bitcoin’s founder, “Satoshi Nakamoto,” is hitting U.K. courts. Australian Craig Wright says, “It’s me!” but most in the crypto crowd say he’s full of it.