CPI Coming in Hot

The crypto market continues to disappoint as Bitcoin falls close to the  $19,000 mark yet again. The stock market kicks the week off to a slow start as investors are eying the CPI report today. The estimated CPI was 8.8% and the real number came in at 9.1%. This was immediately reflected premarket as the Nasdaq drops more than 2%.

Rates continue to move upward as the 10 Year Treasury Bond pushes above 3% again.

Investors are not only losing wealth being invested in the stock market, but continue to bleed value from the dollars they hold. What will the Federal Reserve do this month to combat inflation and could it cause a prolonged recession for the economy.

Hackers steals $8 million from Uniswap users

Several million dollar hacks in the crypto world seem to be a weekly occurrence these days. This week, several users of the largest decentralized exchange, Uniswap, were the victims of a phishing attack.

Over 70,000 users were sent a malicious airdropped token that was made to look like it came from Uniswap. 

Users were prompted to "claim" a fake airdrop which turned out to immediately drain their wallets. As usual, the attacker funneled the stolen assets through Tornado.cash to launder the crypto. 

Users must be wary of any free token claims and NFT mints, even when it's coming directly from the development team. We have seen situations where admin/developer social media account have been hacked, like the Bored Apes Yacht Club last month.