Crypto.com: Monaco, MCO and the company’s earlier record
So I looked into Kris Marszalek’s history, including Monaco and $MCO. I went through court records, company filings and the original announcements.
Research & analysis4 min
Read the publication
MASTR · 2024–2026
All publications · 2
Original investigations, critical essays and the conversations behind them. Read by subject, follow a thread, or find a person or project in the source texts.
694 · Selected publications · 2/29
Solana: paid promotion · 6 Sep 2026
What disappoints me most about this space rn is how different the reality is from the opportunities everyone keeps talking about...or how it changed. That applies to building useful things too, not talking about trading.
Building & independence2 min
Binance 10/10: the records liquidated users would need
The complete second-by-second mark-price history and collateral valuations? - The index inputs, weights and fallback decisions? - The clipping thresholds and records of when they were applied? - The price bands actually enforced during the…
Research & analysis2 min
An honest salary and building after work
An honest salary and building after work. Dated original source, with context and links.
Commentary & rants1 min
The Wall Street suits are taking over the crime, and you’re following them like a sheep!
We had a problem when Solana, the main retail chain, became dominated by scammers, memecoins and endless extraction.
Commentary & rants1 min
Password-reset emails: what they do and do not reveal
What’s happening is simple: someone, (in this case most likely bots), triggers a password reset request through X’s public reset form. For that, the public username is enough. X then sends the reset email itself to the address linked to the…
Research & analysis3 min
Web3 culture · 1 Sep 2026
@solanamobile might be one of the most underrated ideas and project in crypto right now, and the dApp Store on Seeker is the part people should be paying far more attention to.
Commentary & rants2 min
Cronos after Tectonic: what a chain rollback means
I can document only a small number of clear cases where developers or validators deliberately rolled a network back, restarted it from an earlier state or otherwise discarded previously accepted history.
Research & analysis2 min
Crypto security incidents recorded in August 2026
Aug 31, Balancer V1: Approximately $234K. A rounding flaw allowed 1 satoshi of WBTC input to mint 4,408.8 BPT after reserves were driven towards dust.
Research & analysis6 min
Tectonic: oracle prices, receipt tokens and the outflow calculation
Tectonic allowed an externally manipulated oracle price and an internally inflated receipt-token exchange rate to reinforce each other across attacker-controlled accounts.
Research & analysis6 min
MASTRpass Pro: the original Solana dApp Store launch note
I wanted one private, local app where I could store everything important, including passwords, wallet seed phrases, recovery codes, notes, documents and images, with all data encrypted directly on my own device.
Building & independence3 min
Responsible disclosure: the August 2026 status note
A small update: an average of 7 - 8 days has now passed since I privately submitted 44 proven and fully documented security findings across 5 projects:
Research & analysis2 min
Avici and Rain: tracing collateral losses across chains
avici was hit today after an attacker exploited a vulnerability in an outdated version of Rain’s Solana card-collateral contract.
Research & analysis6 min
The Solana voting drama was honestly pretty fun to watch ;-)
Helius YES → Jupiter YES → Figment NO → Everstake NO → NO → Kraken NO → SGP-0002 falls below 66.67% → Drift/VelocityDEX flips YES → Kraken large validator flips ~8.1M SOL to YES → Galaxy moves from mostly Abstain toward YES → late ballots…
Commentary & rants2 min
Exchange accountability · 28 Aug 2026
If onchain evidence clearly documents a scam, theft or other crime, CEXs should be legally required to hand over the relevant KYC and transaction data to law enforcement when a valid legal request exists.
Commentary & rants2 min
Attention and incentives · 28 Aug 2026
I often speak critically about this industry because, despite everything I have seen, I still believe it can become better.
Commentary & rants2 min
KCEX: the promotion request and MASTR’s response
I could find no KCEX entry in the Seychelles FSA’s public VASP register, no independently verifiable Proof of Reserves, and no transparent public disclosure of the people ultimately controlling the exchange.
Research & analysis1 min
Six security reports: the work behind responsible disclosure
No names but: -A wallet-connected launch platform, -a Solana gaming/trading app, -2 perpetuals DEX, -a crypto exchange -....and an on-chain order-book protocol.
Research & analysis3 min
Robinhood: trading incentives, custody and the new chain
Crypto X has become embarrassingly excited about Robinhood Chain, a corporate Layer 2 wrapped in the language of permissionlessness.
Research & analysis8 min
Five developments beneath the August 2026 market noise
The 5 crypto stories that actually matter right now, beyond the endless gambling, shitcoins and manufactured noise.
Research & analysis5 min
Attention and incentives · 26 Aug 2026
MASTR is not VC-backed. We have invested tens of thousands of our own money, built working mobile apps, reached over 1,000 downloads and have several hundred people actively using our products every day. We achieved that without paid…
Commentary & rants2 min
When a market prices a lie more efficiently than the truth
Markets are often described as machines for discovering truth, although what they actually discover is the price people will pay under a particular distribution of information, incentives and fear.
Commentary & rants3 min
Paid promotion · 23 Aug 2026
I’ll focus more heavily on bug bounties again. Unless this space decides that this public work, which depends entirely on support, matters enough to keep alive.
Commentary & rants1 min
TRUMP’s August rally: launch wallets, liquidity and fees
I checked whether the same wallets that extracted hundreds of millions at launch returned to buy and sell during the rally....
Research & analysis6 min