web3 is going just great
@web3isgreat
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tracking only some of the many disasters happening in crypto, defi, NFTs, and other blockchain-based projects since 2021 • created by @molly0xfff
Joined January 2022
NFT collector gets $280 top bid for the Jack Dorsey tweet NFT he bought for $2.9 million last year. April 13, 2022.
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Luna 2.0 is down 75% from its launch 12 hours ago
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The Bored Ape-themed hamburger restaurant in Long Beach, California has shut down. h/t @longbeachcounty
First crypto burger purchase at Bored Ape restaurant illustrates why people don't widely do this. April 9, 2022.
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First crypto burger purchase at Bored Ape restaurant illustrates why people don't widely do this. April 9, 2022.
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Minecraft announces they will not support or allow NFTs. July 20, 2022.
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SpiceDAO wins a $3 million auction to buy an extremely rare storyboard book of Dune, only to learn that owning a book doesn't confer them copyright. January 15, 2022.
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OpenSea announces limits on free NFT minting, then reverses the decision the same day, after revealing that 80% of the items created through the feature were plagiarized, fake collections, or spam. January 27, 2022.
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Promised NFT game "Blockverse" rug pulls 500 ETH ($1.2 million). January 25, 2022.
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NFT collector loses 100 ETH (~$150,000) in a joke gone wrong. July 20, 2022.
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After five years in prison for a Ponzi scheme and a lifetime ban from the pharmaceutical industry, Martin Shkreli announces his new venture: a web3 drug discovery platform. July 25, 2022.
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[UPDATE]: OpenSea users panic as at least $1.7 million in NFTs are stolen. February 19, 2022.
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Blockchain-powered carbon offset company Land Life starts 35,000-acre forest fire in Spain. July 20, 2022.
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Former OpenSea executive arrested, charged with money laundering. June 1, 2022.
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GameStop's new NFT platform features an NFT mimicking a victim of 9/11. July 23, 2022.
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Crypto scam watchdog group launches NFT project, which is then exploited. September 2, 2022.
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FTX-hosted NFTs break after website is redirected to a restructuring page. December 7, 2022.
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Crypto-themed restaurant stops accepting crypto. June 24, 2022.
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eth dot link service about to go offline because domain owner is in prison. August 25, 2022.
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NFT collector accidentally sells their rock for close to $0 instead of over $1 million. March 10, 2022.
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Tax season begins to hit crypto Reddit hard. January 31, 2022.
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Pixelmon raises $70 million only to reveal hilariously bad NFTs. February 25, 2022.
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Popular blockchain game Axie Infinity suffers a $625 million exploit, possibly the largest in defi history. March 29, 2022.
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Tax loss harvesting service emerges to help collectors unload their worthless NFTs. December 29, 2022.
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Renter loses half their security deposit after landlord puts it into Bitcoin. June 2, 2022.
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Bitcoin mining operation Riot Blockchain earns more money in July by not mining, effectively mines without paying for power. August 8, 2022.
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Ethereum transition to proof-of-stake delayed again, as is tradition. April 13, 2022.
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Shitcoin project tests the limits of cringe by building $600,000 statue of Elon Musk and delivering it to Tesla HQ. November 26, 2022.
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NFT collector loses Bored Apes he bought for nearly $2 million in two consecutive scams. October 8, 2022.
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[DEVELOPING]: NFT holders panic as wallets are drained; some blame a new smart contract from OpenSea, others blame a new platform called X2Y2. February 19, 2022.
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Bored Apes Discord compromised again, 32 NFTs stolen and flipped for $250,000. June 4, 2022.
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Hostess announces $TWINKcoin snack cakes. June 22, 2022.
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FOIA request reveals that Coinbase has been providing ICE with blockchain analytics tools. June 29, 2022.
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Estavi's crypto projects, Bridge Oracle and CryptoLand, collapsed last year after he was arrested and imprisoned for "disrupting the economic system".
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Beanstalk Farms stablecoin project loses $182 million to exploit. April 17, 2022.
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Bill Murray's NFT charity auction nets $185,000, which is then immediately stolen. September 1, 2022.
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Martin Shkreli dumps his project's token in "hack". August 12, 2022.
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CoinDesk reports that Decentraland has just 38 daily active users. October 7, 2022.
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Collector accidentally burns their $123,000 CryptoPunk. March 24, 2023.
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The silver lining is that now those 2.1 million LUNA they accidentally sent to a thief are now only worth $11 million instead of $38 million ¯\_(ツ)_/¯.
Luna 2.0 airdrop sends 2.1 million $LUNA to Mirror Protocol thief. May 28, 2022.
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The Wikimedia community formally requests that the Wikimedia Foundation no longer accept cryptocurrency donations. April 12, 2022.
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apologies if this is how you're finding out that bill murray is selling NFTs now.
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Binance gave Putin regime information on users who donated to opposition leader Alexei Navalny. April 22, 2022.
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ape holders can use multiple slurp juices on a single ape. May 4, 2022.
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Sam Bankman-Fried arrested. December 12, 2022.
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User trying to swap $5 in stablecoins via Decentral Bank ends up with $10 trillion. July 6, 2022.
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Celsius pauses all withdrawals, claims it's due to "extreme market conditions". June 12, 2022.
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Coca-Cola launches Pride NFTs, bringing the commercialization of Pride to new lows. June 30, 2022.
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After choosing to keep the crypto, divorcee wants a do-over. August 18, 2022.
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Even a free sports car couldn't get anyone to bid on Chevrolet's first NFT. June 25, 2022.
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Tesla lost $140 million trading Bitcoin in 2022. January 31, 2023 https://web3isgoinggreat.com/?id=tesla-lost-140-million-trading-bitcoin-in-2022
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Trader loses $510,000 trying to convert funds between two currencies. January 29, 2022.
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Another common example of why people don't tend to use crypto to make everyday purchases is the 2010 purchase of two Papa John's pizzas for 10,000 Bitcoin (then around $40—fancy pizzas, I guess). Today those 10,000 BTC would be worth $414 million.
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Two QAnon influencers running crypto scams steal more than $2 million from their followers. June 20, 2022.
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133 NFTs valued at $2.4 million stolen when hacked Bored Apes Instagram advertises fake land airdrop. April 25, 2022.
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Tesla announces they sold 75% of their Bitcoin. July 20, 2022.
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Another Bored Ape owner makes a typo, sells NFT for $180,000 less than they intended. May 30, 2022.
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Game studio pauses development on their game after sinking Kickstarter funds into crypto. August 11, 2022.
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Juno accidentally transfers $36 million in seized funds to inaccessible wallet address. May 5, 2022.
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Coinbase CEO tries to weave a compelling story about how their own team came up with a Super Bowl ad that "broke the rules on marketing", is quickly revealed to just be taking credit for the work of an outside ad agency. February 21, 2022.
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Toronto Comic Arts Festival sparks outrage by featuring NFT creator Saba Moeel, Moeel found to have widely traced her artwork. May 30, 2022.
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NBA player De'Aaron Fox ditches his NFT project after raking in $1.5 million. February 23, 2022.
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Celsius files for bankruptcy. July 13, 2022.
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i've peaked.
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Logan Paul threatens to sue CoffeeZilla for exposing his (alleged) grift. January 4, 2023.
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Former asset manager for Celsius files lawsuit alleging the company was a Ponzi scheme. July 7, 2022.
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Someone claims to have burned a Frida Kahlo drawing to "transition it into the Metaverse" as NFTs. September 28, 2022.
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With that, the Grift Counter™ has crossed the $10 billion mark.
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Sub-primate lending: $5.3 million in Bored Apes used as loan collateral are at risk of being liquidated. August 19, 2022.
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Coachella NFTs stop working due to FTX collapse. November 15, 2022.
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Anna "Delvey" Sorokin announces she will "move away from the 'scammer persona'" and launch NFTs. June 16, 2022.
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Snapchat abandons its web3 plans. August 31, 2022.
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Twitter launches special hexagonal NFT profile pictures, so now you don't even have to check a username for ".eth" to know who to avoid. January 20, 2022.
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[ONGOING]: People rush to steal some of the $190 million in the Nomad bridge after an exploit is discovered. August 1, 2022.
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franklinisbored tried sending an NFT to the other party, asking nicely for them to give him the 100 ETH back. they just replied with their own NFT 💀
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These were some of the paid tweets that were made without disclosure. Lohan and Lil Yachty got $10,000, Ne-Yo got $12,000, and somehow Jake Paul got $25,000 for retweeting Lil Yachty. If I was Lil Yachty I'd be mad lol
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Terrible news for projects like NFT Worlds, which are just a layer on top of Minecraft. Their token price and NFT floor prices have both crashed more than 70% on the news.
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"Hawk tuah" memecoin immediately crashes. December 5, 2024
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87% of trades on LooksRare NFT platform reported to be wash trades. January 28, 2022.
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Binance adds a branded hashtag to Twitter that closely resembles a swastika. #Binance. April 20, 2022.
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Meta pulls the plug on NFTs. March 13, 2023.
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Crypto games site "w3itch[.]io" blatantly copies hosts stolen games. June 29, 2022.
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Terra decides to release "Terra 2.0", because apparently the way to fix a crypto catastrophe is with more crypto. May 25, 2022.
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So long, hexagon: Twitter removes NFT profile picture support. January 10, 2024.
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Ponzi scheme promising a blockchain app to identify dogs by their nose-prints scams investors out of $127 million. June 22, 2023.
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Decentraland adds that one feature we've all been waiting for: landlords. December 11, 2022.
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FTX founder Sam Bankman-Fried tries to explain yield farming and it's just a ponzi. April 25, 2022.
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Then again, the likelihood of someone successfully holding on to 10,000 BTC since 2010 without losing them to Mt. Gox or any other of the many fiascos is somewhat slim.
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OptiFi developer accidentally closes the project contract, irretrievably locking $661,000. August 29, 2022.
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Report reveals that crypto investment firm Uprise lost 99% of customer funds trying to short Luna during its collapse. July 6, 2022.
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One misconfigured node apparently takes the entire Solana network offline. September 30, 2022.
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From the Celsius subreddit. Until now, some people were still holding out hope that the pause on withdrawals was temporary.
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Ubisoft now claims its forceful introduction of NFTs was only "research". September 10, 2022.
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[bong rip].hear me out here, but what if we created a central entity that could act to stabilize financial institutions in times of crisis.
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Someone scrapes pre-launch NFT data to steal and launch their own goblin asses project. June 2, 2022.
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One thing that must be emphasized: the Axie Infinity hack occurred on March 23. Sky Mavis became aware of it this morning, March 29, after a report from a user having trouble withdrawing funds. The equivalent of $625MM was missing for SIX DAYS before they realized it.
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Department of Justice charges the scammers behind the January "Frosties" NFT rug pull with fraud and money laundering shortly before they launch their second project. March 24, 2022.
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