Mark Toon

Houston

Contributor at Protos

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Articles

‘Sherlock missed it’: Cork hacker slams audit firms in on-chain messages

1 week ago | protos.com | Mark Toon

The hacker behind last month’s $12 million exploit of Cork Protocol has weighed in on a debate between two squabbling crypto security audit firms. Messages left on-chain from the hacker’s address appear to set the record straight about the root causes of the incident and lament the clout-chasing of some auditors in the wake of such attacks. The comments came in response to a post made on Wednesday by Jack Sanford, CEO of security audit firm Sherlock.
Your L2 transaction fees are higher because of MEV spam, report

1 week ago | protos.com | Mark Toon

A new report, titled MEV and the Limits of Scaling, explores the vast volume of MEV spam offsetting improvements in blockchain throughput. Effects of the extra traffic include higher fees for users of popular Ethereum “layer-two” (L2) scaling networks. Similar trends on Solana and other L2s led Flashbots to do their own deep dive into rollups built via the OP Stack (Optimism, Base, Unichain, and World).
New browser extension lets you instantly price the web in bitcoin

2 weeks ago | protos.com | Mark Toon

The team behind a new currency converting browser extension says it wants to give skeptical online shoppers a better understanding of the crypto world by allowing them to instantly “price the internet in bitcoin (BTC).”Launched earlier this week by news and content platform Truth for the Commoner (TFTC), Opportunity Cost uses CoinGecko data to detect and convert online prices to BTC, sats, or a combination of both, in real time while protecting your privacy.
Ethereum Foundation under scrutiny as Geth dev speaks out on firing

2 weeks ago | protos.com | Mark Toon

The Ethereum Foundation (EF) has once again found itself facing backlash, with criticism this time coming from one of its own. Péter Szilágyi, one of the lead developers of the Go-ethereum (Geth) client, has lashed out at former colleague Tomasz K. Stańczak over alleged plans to push the development of Geth out of the organization. I DARE you and the entire #Ethereum foundation to say that you didn't offer $5M for us to spin out.
Coinbase's Conor Grogan on how he’s reuniting users with lost crypto

2 weeks ago | protos.com | Mark Toon

Multi-million dollar losses aren’t uncommon amongst crypto users. Whatever the cause — hacks, phishing, rug pulls, liquidations, or simply HODLing cursed coins — crypto can be lost in the blink of an eye. A less discussed but surprisingly common source of losses, however, is the vast sums that lie forgotten in dormant blockchain wallets and set aside as unclaimed airdrops throughout the cryptosphere.
Bitcoin DeFi project ALEX exploited again, aBTC and sBTC depeg

3 weeks ago | protos.com | Mark Toon

Just over a year after a suspected private key hack, “Bitcoin DeFi” platform ALEX Protocol has been exploited again, this time with losses estimated at $14 million. The team initially announced a security incident, following reports of a hack circulating on X, before later publishing a more detailed incident report. The project’s website remains “under maintenance.”Notice: Incident Report on Recent ExploitALEX Protocol recently experienced an exploit that led to a partial loss of funds.
SafeMoon CEO defense claims there was no conspiracy among execs

1 month ago | protos.com | Mark Toon

The defense for former SafeMoon CEO John Karony summarized its case late on Tuesday, May 20, hoping to cast doubt on prosecutors’ compelling evidence. Karony is charged with conspiracy to commit wire fraud, securities fraud, and money laundering in connection with SafeMoon, a crypto token that saw a wild surge in popularity and market value in early 2021, at the peak of a crypto bull market rife with frauds.
SafeMoon CEO branded ‘remorseless liar’ in explosive closing argument

1 month ago | protos.com | Mark Toon

Since John Karony’s trial started on May 6, US government prosecutors have built their criminal case against the former SafeMoon CEO in bits and pieces. It has occasionally seemed uncertain whether jurors would be able to draw a clear narrative from testimony by Karony’s confessed co-conspirators, his alleged victims, and expert forensic analysts.
SafeMoon liquidity spending 'good business,' says defense

1 month ago | protos.com | Mark Toon

Defense attorneys in the criminal fraud trial of John Karony neared the end of their case on Tuesday. The former SafeMoon CEO is accused of misrepresenting SafeMoon to investors, including by secretly withdrawing funds from SafeMoon liquidity pools and using them for personal purchases, including cars and real estate. The day ended with the news that Karony may testify in his own defense starting later today. That decision will be made tonight and may be shared publicly on the case docket.
Crypto traders in the UK will have data handed to taxman from 2026

1 month ago | protos.com | Mark Toon

Starting next year, UK-based crypto firms will be forced to hand over up to six pieces of customer information to HM Revenue & Customs (HMRC) or incur a £300 ($400) fine. From January 1, 2026, providers will need to collect each UK-based customer’s name, date of birth, home address, country of residence, National Insurance number, or Unique Taxpayer Reference. For non-UK residents, they will need to collect their tax identification number (TIN) and the country where it was issued.