As a researcher with experience in the cryptocurrency market, I find Gigantic Rebirth’s (GCR) recent revelation about being hacked and subsequent events quite intriguing. It is unfortunate to hear that someone was able to use GCR’s identity to manipulate the price of ORDI token by opening large short positions on Binance and OKX. This incident highlights the importance of maintaining robust security measures in this digital asset space.
As a cryptocurrency market analyst, I’d rephrase that as: A prominent and anonymous figure in the crypto trading community, referred to as Gigantic Rebirth or GCR, has disclosed a recent cyberattack against him.
On Sundays, he advised his supporters to disregard all information originating from his social media platforms.
As a crypto investor, I’ve come across situations where hackers manipulate market prices by using someone else’s identity. In this specific case, they utilized GCR’s identity to artificially inflate the price of ORDI token. After establishing substantial short positions on both Binance and OKX exchanges, they initiated their plan.
As a researcher investigating the alleged hack at X.com, I have come across GCR’s belief that an insider from the company was bribed to facilitate the breach. However, a pseudonymous trader claims to have received warnings about the potential attack around two months prior, leading them to strengthen their security measures significantly. They emphasized, “However, no amount of security is sufficient when X employees are willing to sell admin access for money.”
The trader further urged Elon Musk, the CEO of X, to clean up his operation.
Betting against Luna
GCR came to prominence in early 2022 after making an audacious bet against Terra (LUNA).
As an analyst, I’d rephrase it as: I noted that the trader entered into a $10 million wager with Do Kwon, the founder of Terraform, predicating that LUNA‘s value would fall below $88 by March 2023. Subsequently, Kwon expressed an interest in elevating the stakes of their bet.
LUNA ended up collapsing in May 2022, wiping out tens of billions of dollars worth of value.
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2024-05-27 12:19