GM, this is The Crypto Explorer, Let's face it, trying to keep up with crypto is like catching a greased-up pig.

Let’s do the chasing for you! 😀

 Here’s what we got for you today:

• 🤯 Dormant wallet awakens, transfers millions!

• 👺 DeFi hackers strike again!

• 🧱 Around The Block: Bitcoin reclaims $28K.

 🤯 Dormant Wallet Awakens, Transfers Millions!

Somebody’s cashing out!🤑

A dormant wallet that had purchased 8,000 ether (equivalent to $14.8 million) during the Ethereum ICO in 2015 has suddenly sprung to life and transferred funds to a new address.

According to On-chain analysts, Lookonchain, here’s how it happened:

• First, the wallet conducted a test transaction of 1 ether ($1,845).

• Then transferred the remaining 7,999 ether to a brand new address.

Now, let’s blow your mind. 🤯

The initial purchase of these tokens during the ICO was a steal at around $0.31 per token, amounting to just under $2,500 in total.

Fast forward to today, and with the current value of ether, the owner has enjoyed a mind-blowing return on investment of 591,900%. 😲

(Phewt, he only way I can sit on those gains would be to have lost the wallet or be in prison 😄).

The reason behind the consolidation of funds into a single wallet by this Ethereum ICO participant remains unclear.

But the funds have not been sent to an exchange or sold on-chain. (You can track or monitor the flow of funds here.)

Maybe the Dude's just got outta prison 🙌😆

Oh, and in case you were wondering, this isn't the first time we've seen such crypto moves.

In December, two addresses moved $27 million of ether, of which some funds were from the Ethereum ICO.

Additionally, in April, another ICO participant moved $4.4 million of funds.

So, there you have it, folks.

A dormant wallet awakens, fortune multiplies, and the crypto community is left scratching their head in awe.🤕

 👺 DeFi Hackers Strike Again!

Another DeFi protocol has fallen victim to a hacking attack! 😱😢

On May 28, Arbitrium-based Jimbos Protocol experienced an attack that resulted in the loss of 4,090 Ether (ETH), valued at around $7.5 million at the time. 😢

Blockchain security firm PeckShield revealed that the attack took advantage of a lack of slippage control on liquidity conversions within Jimbos’ Protocol.

As a result, the price of Jimbo (JIMBO), the underlying token of the protocol, experienced a significant drop of 40%. 😬

And get this:

Jimbos Protocol had been launched less than 20 days prior to the attack, aiming to address issues of liquidity and volatile token prices through a new testing approach.

Unfortunately, the protocol was not adequately developed, leaving a logical vulnerability that allowed attackers to exploit the system.

Here's the flow of stolen funds.

While this attack on Jimbos Protocol is disheartening, hacking incidents in DeFi protocols are not uncommon.

Although the number of attacks has reportedly decreased compared to previous years, the community still faces various exploits and vulnerabilities.

🧱 Around The Block: Bitcoin reclaims $28K.

• 📈 Price Analysis: Bitcoin reclaims $28K, and charts suggest ARB, XRP, EOS and AAVE could follow.

• 🚨 Cybersecurity: Ethereum’s Shanghai upgrade made it easier to detect criminals.

• 💰 Compensation: Temasek slashes compensation for execs responsible for its $275M FTX investment.

• 🤵 Crypto Stance: 7 presidential candidates have dropped clues about their crypto stance.

That's all we've got for you today.

Please don't forget to rate today's email and let us know what you like about it.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.