A Korean company lost all advance payments; a website tries to brute-force Satoshi's wallet; Shi Yongxin's prayer beads have mnemonic phrases engraved on them?

Written by: Nicky, Foresight News

Welcome back to Spicy Commentary, where we bring you the dark humor of Web3 every week—those things that "theoretically can make money but actually lose a fortune".

A Korean company used clients' advance payments to buy 2x leverage, someone is daydreaming of "theoretically earning 80 billion USD", and Shi Yongxin wrote mnemonic phrases on his prayer beads. Spicy Commentary brings you all these stories in one go!

Koreans Gave Their Life Savings to a Company, Only to Have It All-Invested in Ethereum

The most outrageous news recently comes from a Korean pre-paid funeral company called "Parents' Love".

The business model is simple: you pay a monthly fee, and the company promises to handle all funeral arrangements in one stop when you pass away. In plain terms, it's installment payments for the living's afterlife matters.

The company had a large amount of advance payments on its books for years, so it got the idea of investing. The problem is—you take ordinary people's life savings to trade crypto, and even use leverage?

They chose BMNR (Bitmine Immersion Technologies, Inc.—currently the largest Ethereum treasury company in the U.S. stock market) on the U.S. stock market and went long with 2x leverage.

Audit report shows: purchase cost 59.5 billion KRW, down to 10.2 billion KRW by the report date, a direct loss of 49.3 billion KRW (about 260 million RMB). ETH is currently trading at 1666 USD, down over 40% this year! (MISSING)

The company's annual revenue is only 6 billion KRW, so this loss is equivalent to 8 years of work down the drain. Worse still, every penny of this money is the pre-paid funeral fees of Korean people.

The Korea Economic Daily's headline was straightforward: "Even if you cancel the contract, there's no money to refund you."

Netizen's spicy comment: "I thought I'd rest in peace after death, but the company helped you 'rest in peace' first."

"Ethereum can really make you lose your life savings—literally (in the physical sense)."

Korean netizen's spicy comment: Don't think about the word "conscience" in Korea 🥹.

Took others' hard-earned money as their own "capital" 🫢.

Korean netizen: Even foreigners know about this incident 🫪.

Embarrassing ourselves in the Chinese-speaking circle 😂.

The counterparty is someone you'd never think of!

A construction company opening a sushi restaurant seems much more reasonable—at least they can build the house themselves 🤔.

Ethereum is letting everyone down 😔.

Buried themselves with leverage.

This Website Theoretically Can Earn 80 Billion USD!

Someone posted on Reddit's CryptoCurrency section:

"Strictly speaking, my website can make me earn 80 billion USD. Although it's impossible in reality, it's theoretically possible—it's trying to brute-force Satoshi's wallet."

This sentence sums up the daydreams of many crypto people: Satoshi's millions of Bitcoins are there, as long as you can guess the private key.

Netizen comment: Dude, when you get the Bitcoins, share some with each of us. Don't forget your roots are on Reddit...

Reply in the comment section: I will never betray my old friends—each of you will get 1 satoshi (1 Bitcoin = 100 million satoshis = 0.00078 USD).

A "tutorial" also appeared in the comment section: I have something similar on my home cluster. I wrote a Go language image that generates a private key and tries it against the top 10,000 Bitcoin wallet addresses by holdings, running forever. It's like a mini lottery—I check the logs from time to time to see if I've won. Way cheaper than real lottery tickets. 😎

But someone in the comment section pointed out: Satoshi doesn't have a (single) wallet—he sent 50 coins to random addresses. So even if you guess one of those addresses, you can only get a wallet with 50 coins.

So you can't get 80 billion USD all at once anymore 🫣.

Netizen's spicy comment: If you really succeed, the value of those Bitcoins themselves will quickly become much lower.

Reply: Yeah, then there's only 70 billion USD left? 😜

Someone who used the OP's website said: Interesting, but OP, can you add a "Start" button🔘? As soon as I open the website, my 16-core processor starts running at full speed for no reason—this isn't good 🤣 (are you secretly using the computing power to mine?)

Netizen said: Great website, man, very nice! And I like the "Preview Winning Screen" feature—after all, no one will actually see that screen 😂.

I used to run a GPU-based cracker targeting all Satoshi wallets, which could guess tens of millions to hundreds of millions of times per second. But even so, the time scale would be until the heat death of the universe.

But like you said... who knows? A random throw might just get a Yahtzee (grand slam)!

Netizen's spicy comment: The core meaning of Proof of Work is that the Bitcoin you can get by contributing to the network (mining) is far more than what you can get by attacking the network (like trying to guess wallet private keys).

Netizen said: "Make you earn"—do you mean "help you steal a large sum of money"? Just because you can access someone's wealth doesn't mean you can take it legally.

Friendly reminder: The public keys in the genesis block were manually and randomly assigned by Satoshi. You'll never crack them. Which one are you trying to crack 🧐?

Shi Yongxin's "Prayer Beads Have Mnemonic Phrases Engraved"?

On May 29, the Xinxiang Court in Henan Province issued a first-instance judgment: Former Shaolin Temple abbot Shi Yongxin (real name Liu Yingcheng) was found guilty of four crimes—embezzlement of duty, misappropriation of funds, taking bribes, and giving bribes. He was sentenced to 24 years in prison and a fine of 3.5 million RMB.

But what really blew people's minds was an unconfirmed rumor (though it's widely spread with vivid details): Investigators found a string of prayer beads in Shi Yongxin's residence, each bead engraved with an English word, which together form a complete mnemonic phrase (seed phrase) corresponding to a Bitcoin cold wallet containing about 130 million USD worth of BTC; there was also a USB drive storing the private keys of 18 Ethereum wallets, with assets worth over 100 million USD. 🫢

Netizens' spicy comments flooded in: "The abbot says monks don't lie, but they can trade crypto."

The master is actually a "crypto-trading master"!

He was already smart, right?

With the prayer beads in hand, you hold hundreds of millions of dollars!

And you can carry it around—looks good 🧐.

Mercedes.

Seems really ahead of the times.

When will the Shaolin public chain be released 🤣?

It turns out the abbot also studied Bitcoin.

Shaolin Temple NFTs?

From the funeral company that lost all life savings, to the "theoretically earning 80 billion USD" website, to the Bitcoin prayer beads worth hundreds of millions. This week, some are gambling big, some are dreaming, some are hoarding Bitcoin.

The world is a huge makeshift stage, but Spicy Commentary is here to cut together the most ironic operations, the most absurd money-making fantasies, and the most outrageous realities for you.

Wish you all a happy weekend!

(This issue's content is derived from public information and online discussions, presented in a lighthearted way for reference only.)

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