oskarth
@oskarth
co-founder @eth_systems, confidential systems for institutional Ethereum | freedom maxi | | built Vac, Waku (@logos_network), @zkmopro | 英文中文都可以
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As a solo staker I’d also strongly consider unstaking if this EIP goes through.
Happy to support the network to be more robust and resilient (also build my own blocks), but not worth the hassle and risk if yield drops much below 2%.
You get the network you incentivize.
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What can be done?
We'll see a lot more of this in the age of AI-assisted cyber attacks. We see this already with things like Zcash supply bug and the resulting Ironwood. Expect more to come.
Assuming you want self-custody, what should you do?
1) Diversification: don't put all your eggs in one basket
2) Use multi-sigs: less vulnerable to vendor attacks
3) For seed phrases: Use additional passphrases and consider dice wallets
Even with all of this, there'll be more types of attacks not in our locus of control. Unfortunately, I think we are likely to see continued and worse attacks from here. There are no silver bullets, and vigilance is a prerequisite, but it might not always be enough.
Diversification applies to seeds, assets, networks, and methods.
Maybe there'll come a calm after this current set of AI assisted cyber attacks, but right now we are in the middle of a storm. Prepare accordingly.
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The attack on COLDCARD HW wallet is probably one of the worst ones in crypto history.
COLDCARD was seen as one of the most secure and paranoid option for self-custody, with proper airgapping and many security measures. Its users did basically everything right, yet got hacked.
A bug in the RNG for how seed phrases are generated, undiscovered for 5 years, meant hackers can re-generate seed phrases on their own.
Owning a Mk3 and being on the exposed firmware myself, I was up late last night scrambling to access it and see if I was affected. Luckily, and more by happenstance, my seed predates the RNG bug. First close call on a hack in a long time. But this isn't true for a lot of people, and these people are fucked now despite doing 95%+ of self-custody right.
Not hopeless, there are several ways to mitigate these things, but definitely not good. Unlike e.g. previous CEX hacks, this one strikes at the very core of self-sovereignty, self-custody, and what a big part of this technology is about.
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The attack on COLDCARD HW wallet is probably one of the worst ones in crypto history.
COLDCARD was seen as one of the most secure and paranoid option for self-custody, with proper airgapping and many security measures. Its users did basically everything right, yet got hacked.
A bug in the RNG for how seed phrases are generated, undiscovered for 5 years, meant hackers can re-generate seed phrases on their own.
Owning a Mk3 and being on the exposed firmware myself, I was up late last night scrambling to access it and see if I was affected. Luckily, and more by happenstance, my seed predates the RNG bug. First close call on a hack in a long time. But this isn't true for a lot of people, and these people are fucked now despite doing 95%+ of self-custody right.
Not hopeless, there are several ways to mitigate these things, but definitely not good. Unlike e.g. previous CEX hacks, this one strikes at the very core of self-sovereignty, self-custody, and what a big part of this technology is about.
Show more
Excited to collaborate with Gateway
Gateway and @eth_systems are collaborating to advance private, sovereign onchain finance for institutions.
There is a reason this matters now.
Institutions have already found digital asset as an asset class and are already looking at public rails for stablecoins, tokenized assets, settlement, collateral, and other financial workflows. But serious financial activity cannot operate in full public view.
Positions, counterparties, transaction flows, access rules, and internal business logic require confidential infrastructure.
That is where the next institutional layer of Ethereum begins.
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Institutional Ethereum needs both deep privacy research and practical adoption pathways.
That is why we are excited to collaborate with @Gateway_eth
Gateway has been building toward the institutional orchestrating layer for sovereign onchain finance: controlled environments, interoperability, privacy, access governance, auditability, and production deployment.
Together, we will focus on education, frameworks, workshops, case studies, and product pathways that help institutions understand and adopt confidential infrastructure on Ethereum.
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We are pleased to join the Enterprise Ethereum Alliance.
As the longstanding organization bridging the Ethereum ecosystem with global enterprises, the EEA plays a critical role in advancing standards, collaboration, and institutional adoption.
EthSystems looks forward to contributing our expertise in confidential systems for payments, settlement, tokenized assets, identity, and compliance to support this work.
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Welcome @eth_systems to the Enterprise Ethereum Alliance! 🎉
Their work focuses on building confidential systems for institutional Ethereum across payments, settlement, tokenized assets, identity, and compliance - bringing practical expertise in turning institutional requirements into working systems to the EEA member ecosystem.
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Excellent article on next phase of fintech and RWAs.
Our CEO & CoFounder @motypes was on stage at the Asia Onchain Finance Summit in Hong Kong, discussing how institutions are finally moving from PoCs to real Ethereum applications and why confidential compute is the missing piece for compliance + privacy.
Huge thanks to @ethereumhkhub, @snzholding, @BGDA_UK and everyone who made this one of the most substantive institutional RWA gatherings in Asia.
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🦔AI companies are bulk-buying rare books, scanning them through high-speed machines that cut the spines off, and shredding the originals. A service called ISBNdb facilitates orders of up to a million books and keeps buyers anonymous. Pre-2022 books are premium because they're free of AI-generated text. A federal judge ruled the practice is fair use because eliminating the original means only one copy exists at a time. Anthropic hired the former head of Google Books partnerships to obtain "all the books in the world."
My Take
This got to me. A bookseller told 404 Media that rare books with almost no surviving copies are being fed into this pipeline. Books that survived wars, fires, and centuries of handling are being shredded so an AI can learn to write a better marketing email.
ISBNdb's website literally says "'AI company destroys two million books' is not a headline that generates sympathy," and they still built an entire business around making it happen quietly. They offer NDAs as a feature. They coach clients to call it "digital preservation."
I've covered AI companies scraping the internet, torrenting libraries, and stealing music. This is worse because it's irreversible. You can re-upload a website. You can reprint a bestseller. You can't replace the last three copies of an 18th-century botanical text once someone shreds them for training data. And the judge said it's legal. So it's going to accelerate.
"We shred rare books and offer NDAs so nobody finds out" is a legitimate business model in 2026. What a timeline.
Hedgie🤗
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The fact that you can't even make out on a bench in Central Park without someone recording you on their iPhone and then posting it to social media as some kind of bit is everything that's wrong with society and I am not joking. The surveillance state (administered by an actual state or by the millions of people with phones who want to embarrass people on their TL) is essentially the least romantic thing imaginable in both the love sense and the living sense. It is anti-romantic and anti-life. Part of the reason why the before world was fun was the fact that you didn't have this kind of thing. The ability to do something without it being documented and recorded is the difference between being free vs an animal locked in a cage. There is a direct correlation between everyone constantly being afraid that someone is going to record them and post it somewhere and society becoming more neurotic, less fun, more boring, and less alive.
The self-administered surveillance state is the enemy of life.
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TIL Lollapalooza effect
> refer to a situation where multiple biases, tendencies, or mental models act in concert to produce an extreme outcome
Interesting to see how mathematician Terence Tao is using ChatGPT to understand Jacobian conjecture counterexample
Shows how you need a lot of domain expertise to ask the right questions
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To summarize: HuggingFace got autonomously compromised by a model from an American company. HF then tried to use American frontier model(s) to defend themselves, but were blocked by guardrails. HF then had to turn to open source Chinese models to defend themselves from another American company.
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RT @eth_systems: We appreciate the kind words.
We have received a ton of inbound and are processing them so please bear with us.
The de…
It finally finished, here's the final output. Used 60% of my monthly Kimi usage on it
Big news: Kimi-K3 by @Kimi_Moonshot is now #1# in the Frontend Code Arena with 1679 pts, surpassing Claude Fable 5.
This is a 17-place jump from Kimi-k2.6 (#18# -> #1#).
In Frontend, Kimi-K3 ranked #1# in 6 of 7 domains: Brand & Marketing, Reference-Based Design, Data & Analytics, Consumer Product, Simulations, and Content Creation Tools, landing #2# only in Gaming behind Fable 5.
The full model weights will be released by July 27.
Congrats to the @Kimi_Moonshot team on this major milestone!
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Announcing Zakura: a new Zcash node built for scale.
@owocki we are neither protocol layer nor a foundation :)
re extitutional, you might be interested in some of our resilience track work that touches on this:
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Institutional Ethereum requires systems that can meet real requirements around privacy, compliance, auditability, and production readiness.
The EEA is excited to see @eth_systems, the team behind the EF’s Institutional Privacy Task Force, bringing technical depth to that work!
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Today we're launching EthSystems.
We build confidential systems for institutional Ethereum.
Institutions want to use Ethereum, but one of the biggest problems is the lack of built-in, modular privacy tools.
We were the Ethereum Foundation's Institutional Privacy Task Force (IPTF) for the past year. We had hundreds of conversations with central banks, regulators, tier-one banks, and asset managers, shipping open source work the whole time.
Wall Street has found crypto as an asset class, but not yet as commercial infrastructure. Institutions want to run real flows on Ethereum: stablecoins, tokenized assets, settlement. These are businesses with billions of dollars on the line, and no bank will operate in full public view. On a public ledger, confidentiality is the hard part: each party to a transaction should see what it has a right to see, and nothing more.
We have a year of proof of work: private bonds, confidential stablecoin transfers, private settlement across chains, the Ethereum Privacy Map, and more. All with protocol specs and security properties, at our website.
We've spent a decade working on privacy in crypto. We know there's no silver bullet. Different use cases need different systems, each designed, specified, and hardened properly, and someone has to do that work. That's why EthSystems exists.
We're an independent, for-profit company, backed by long-term Ethereum-aligned investors. This is a decade-long transition, and we aren't going anywhere.
If you're an institution that wants to build on Ethereum, talk to us. We're hiring: BD in New York, protocol engineers, ops: join@ethsystems.org
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6/ @eth_systems builds privacy technologies that help institutions execute financial transactions on Ethereum at scale.
Founded by former members of EF’s Institutional Privacy Task Force, EthSystems develops open source technologies to help enterprises and others with privacy and compliance requirements, all without negotiating on decentralization and security that are core to Ethereum.
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