The Breakdown - Mythos Leaks, Crypto in the Strait of Hormuz, and DoorDash Stablecoins | The Breakdown

Episode Date: April 23, 2026

Someone guessed Anthropic’s Mythos URL, gained unauthorized access to the most hyped AI model in history, and used it to build websites. David covers three stories from the week: the Mythos breach, a Tether scam in the Strait of Hormuz, and DoorDash’s stablecoin announcement. We unpack why Project Glasswing looks like marketing by association, how scammers are demanding Bitcoin and Tether for Hormuz transit, and whether DoorDash + Tempo passes David’s three-prong crypto test. Enjoy! __ TIMESTAMPS: (00:00) Introduction (01:08) Unauthorized Mythos Access (08:16) Nexo Ad (08:51) Hormuz Scam Messages (13:12) Nexo Ad (14:04) DoorDash Stablecoin Payments (22:48) Korean Wolf Memecoin FOLLOW THE SHOW › David — https://x.com/dcanellis › The Breakdown — https://x.com/TheBreakdownBW SPONSORS › NEXO Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at http://nexo.com/breakdown Get top market insights and the latest in crypto news. Subscribe to the Blockworks Daily Newsletter: https://blockworks.co/newsletter/ DISCLAIMER As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

Okay, welcome everybody to The Breakdown. I'm your host David Canellas. Today we're running through a few interesting stories that are happening across the internet, across crypto, across AI, and all that sort of stuff. We're going to look at, yeah, this story about a group of people gaining illicit access to Anthropics new mythos model. We're also looking at what seems to be a tether scam, hitting tankers in the strait of Hormuz. And we're also going to be looking at the story about DoorDash, partnering with Tempo to bring stablecoin payments to merchants and delivery drivers. So, without further ado, let's jump to it.

This is the breakdown. This episode is brought to you by Nexto. Step into a new era of digital wealth. Earn interest on your digital assets. Borrow against them without selling and trade all in one platform. Get started at nexo.com slash breakdown. Nothing said on the breakdown is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and interviews expressed by anyone on the show are opinions, not financial advice.

Host and guests may hold positions in the company's funds or projects discussed. Okay, so first up, I can't really ignore this story about mythos, anthropics new supposedly outrageously powerful model that is going to break everything that we knew about cybersecurity and all things code. This is a story from Bloomberg. Anthropics Mythos model has been accessed by unauthorized users. So what's been reported is that a small group of unauthorized users have access to Anthropics, new Mythos AI model, according to a person familiar with the matter. A handful of users in a private online forum gained access to Mythos on the same day that Anthropic first announced a plan to release the model to a limited number of companies for testing purposes. The group has been also, the group has been using mythos regularly since then, though not for

cyber security purposes, said the person who corroborated the account with screenshots and a live demonstration of the model. So while Anthropic is out here warning everybody just how powerful this thing could be, the unauthorized access actually all they were doing was building websites. Where is it? It's like the users are part of a private Discord channel that focuses on hunting for information about unreleased models, including by using bots to scour for details that Anthropic and others have posted on unsecured websites such as GitHub. And how they did it, the group of users made an educated guess about the model's online location

based on knowledge about the format Anthropic has used for other models, which I just find ridiculously silly. if you have access to what is supposed to be the most powerful AI model known to man, why wouldn't you make it figure out whether the systems that you are keeping you on are secure? It just doesn't make a lot of sense to me. The group is interested in playing around with the new models, not wreaking havoc with them. The person said the group has not run cybersecurity-related prompts on the mythos model, preferring instead to try tasks like building simple websites in an attempt to avoid detection by Anthropic.

I mean, okay. And it's just, I just find it super silly because, you know, I'm, every day I am becoming more of an AI skeptic. And I know that that might really annoy some people to hear. But, you know, I think that in general, if you've spent a long time, in the crypto space, you really don't want to be a skeptic because the skeptics were just so cringe. I can't stress that enough that, you know, for the longest time in Bitcoin we had, I mean, there's no other way to describe them apart from super cringe. They're normally like, there was a lot of like professors, there were a lot of like boomer professors, you know,

and other writers that really made a career out of. bashing the concept of Bitcoin, bashing the concept of open source permissionless money, and taking the worst parts of the crypto space and then blowing them up to represent the whole. And if you've been in crypto, you have watched those skeptics be essentially wrong. Like, don't get me wrong, there have been a lot of garbage projects that have come through crypto. and everything that you could think that could go wrong has gone wrong to some degree. So, you know, it's, but it's, it is really the case of a broken clock is still right twice a day because, you know, I mean, we all know what, what Bitcoin and crypto has done.

And essentially these systems do work. It is all about the application of the technology that really brings either merit or disaster. And so I understand that there is an instinct to not become the AI version of that and to not be a skeptic. But when I see stories like this that, you know, I mean, this is alongside, you know, this project last wing stuff. And I know that we might be starting off this show with a little bit of a rant. But I mean, I think we're all familiar with Project Last Wing and it is this initiative from Anthropic that brings together Amazon Web Services, Apple, Broadcom, Cisco CrowdStrike, Google, JPMorgan, Chase, the League's Foundation, Microsoft, NVIDIA, and Palo Alto Networks. And also, like, they've brought in

some others now. They're also expanding, you know, this initiative to some European banks and all this kind of stuff. And it's ordered to what they say, allow the largest software companies and financial infrastructure companies in the world to gain access to mythos before it's provided to the public so that they could kind of strengthen their systems and and understand the supposed threat that is coming. But when I look at this and, you know, this really comes from years and years and years of looking at silly crypto partnerships and reading between the lines when it comes to marketing speak. I can't help but look at this and say, well, this is essentially marketing by association in that, you know, Cisco can say that their systems are secured against

mythos because they have been part of Project Glasswing. And it is, you know, and that's essentially good enough. The power of mythos doesn't even have to be proven. Just that it is, it has been under this umbrella that has been given early access in it. It boosts Cisco's esteem within cybersecurity circles to have gained early access to this model. So, but all this posturing compared to, well, some Goob is in a, in a Discord chat, figured out how to access project, figured out how to gain access alongside all of these giant company just by guessing the URL is it's just so silly to me and that they essentially just use it to build websites okay and like that is ultimately what has become of of AI within the the

normy context is a is a fancy website builder so yeah I mean I don't know if it's if this is just the mood that I'm in today but I am completely unimpressed with this so far but it's off to That's off to those who were able to gain access to to meet those before everyone else and then use them to build some websites. Supposedly to avoid detection. But yeah, okay. Step into a new era of digital wealth with Nexo, the premier digital assets wealth platform. Earn interest on your digital assets. Burrow against them without selling.

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Okay, so next, let's take a look at this story out of the Strait of Hormuz. We have this report from Reuters that scam messages offering, scam messages are offering ship safe transit through Hormuz security firm warns. And as much as it pains me to talk about crypto fraudsters or fraudsters using crypto, I just find this fascinating. That this is as there is a blockade on Iranian ports from the US. And then there is an on again, off again, on again, blockade from Iran on the Strait of Hormuz. that

and Tehran controls the choke point but Maris which is a Greek company on Monday issued an alert warning ship owners that unknown actors

claiming to represent Iranian authorities had sent some shipping companies a message demanding transit fees in cryptocurrencies Bitcoin or tether for clearance

these specific messages are a scam the firm said adding the message was not sent by Iranian authorities but in particular Mary says that one of the vessels that was shot at on Saturday, they believe was a victim of the fraud.

And, you know, I dug a little bit further and I found what seems to be a report confirmed, at least describing something similar. And this is from Sea Trade Maritime News on Saturday as those two tankers were being shot at. it appears to be an Indian tanker. So one of the tankers that was involved is the Indian flagged VLCC Sanmar Herald, which changed its name to Indian ship Indian crew on some logistics platform that the tankers use. In a recording of a purported VHF radio message circulating in the industry, a crew member says it is the San Marrero Herald and you gave me clearance to go. You are firing now.

let me turn back, which definitely aligns with what Reuters is reporting in terms of what would happen if you were a tanker that had been scammed by someone asking for tether for safe passage to the strait, only to realize that once you attempted to go through the strait, you were being shot at because you never actually paid a toll, you just got swindled for some tether or some Bitcoin. I wish we knew whether they had paid Bitcoin or Tether. And, you know, it's kind of par se to be talking about crypto within this context. But I just find it fascinating that, you know, with all the chaos in Iran and the region and the Strait of Hormuz, that Bitcoin and Tether do pop up. And I understand that, you know, it's very on brand for the Iranians to supposedly be demanding crypto, particularly like Tether.

in Bitcoin because there's been a ton of reports that, that, I mean, not only Iran, but, but, you know, also Russia use, use crypto, particularly like these two to, to kind of get around sanctions and all the kind of stuff. So I can understand how it's, I mean, it's just on brand that they would ask for it. But, you know, super curious that, that, you know, these scams are actively happening. And people are actually falling for it, which I guess only goes to show how desperate the situation must be if you're on board, one of these tankers trying to get through an internet national blockade. And someone presents you a way out as long as you pay some crypto, maybe you would just try

in case it was even a real thing. But I just found this super interesting that, I mean, it just shows the relevancy of crypto, even though, you know, I mean, it's all a little bit grim right now in terms of what's happening with defy and the kelp Dow attack. And, you know, I mean, just our prices across the board, like are we in a bare market, how old will the bear market go when still despite all of that crypto is still very much in the zeitgeist even if it is for four for reasons that we wish it wouldn't be but anyway i found this super cool uh for what it is um okay so what's next okay we have a story about door dash here let's take a moment to

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and the digital asset partner of the Audi Revolut Formula One team. If you're ready to approach digital assets with a more structured wealth strategy, visit nexo.com slash breakdown to get started. As always, investments in blockchain technology involve risk. Terms and conditions apply. Do your own research. DoorDash is bringing stable coin powered payments to 40 plus countries. This came out on Tuesday.

DoorDash is building a stable, building stable coin powered payment infrastructure on tempo, which is the stripe back chain, specifically designed for payments, merchant payments, for its three-sided global marketplace, bringing faster and more cost-effective payouts to merchants and dashes across 40 plus countries. We have a nice, a cute quote here from Andy Fang, the co-founder of DoorDash. There's real promise with stable coins transforming financial infrastructure, not just in America, but globally. We want to be a proactive participant and not just passive.

which, you know, that's very, that's very cool. And here in the release, they do a good job of breaking down exactly how stable coins can actually, you know, help the experience of everyone using the platform. For dashes whose delivery income is a flexible earning stream, waiting days for a payout is a real friction point. For merchants, a significant share of revenue flows through DoorDash and getting that money faster and more affordably is something that they are. ask for explicitly. And marketplace transactions are not simple one-way payments. Consumers modify orders after checkout and refunds need to process quickly. So obviously programmable money is going to be very helpful in fixing all of those pain points. So, I mean, it is just, it's somewhat posturing that DoorDash is at least going to present stable coins as an option for its partners

than its users to make use of. And if there is real savings to be made, then, you know, you would say that those users are going to gravitate towards using stable coins on tempo rather than, you know, traditional banking rails and all that sort of thing, which I do find, I do find cool. I really enjoy that, you know, there could be, I mean, that because they operate in so many different countries that I would have to imagine that there are non-U.S. countries that the savings and efficiencies is going to be actually huge for the individual, you know, depending on whether from and their own financial situation. So I can really understand the

utility there. And I really, I don't want to turn this into an episode where I am purely ranting and raving. But, I mean, that said, like, I just really want, you know, and I'm really just speaking about this at an individual level. You know, I really do want to maintain a separation, at least in my own brain, between crypto and fintech. Because, you know, I think at times like this, like, I think it's very important that we, that we try and come to terms with what makes crypto interesting. And I'm really not talking as an investor. I'm not a, I'm not a venture capitalist. I'm not really a trader either. I am just a person that appreciates technology for what it is. And if we are really honest with ourselves about what makes crypto interesting,

I have a mental model that is basically a three-pronged approach to figuring out if something is interesting within the crypto context. I really don't want this to to come out the wrong way. But the first prong to me that makes something interesting in the crypto space is can anyone join the network as a validator without asking anyone for permission? And this DoorDash story, okay, they're using tempo. Already you cannot just become a validator on tempo without asking anybody. So already I would question whether or not tempo is interesting. within the crypto context. It might be interesting in the fintech context, but I'm not particularly interested in fintech. I don't get excited reading about stories about neobanks. You know,

I mean, startups operating in the in the fintech space, that's not really what gets me out of bed in the morning. Okay, the second thing, can I gain exposure to the value of the network? Tempo doesn't have a token. So, and in order for me to gain financial exposure to tempo, I'd probably have to be invested in tempo, but obviously me as just a regular person, I'm not able to gain, I'm not able to invest directly in tempo. So that's, now both of those conditions aren't being met, so that's two strikes. The third one, can any one person or entity control my assets related to the network or protocol or whatever it is? And yes, that seems to be the case on tempo, particularly when you get to the point that you're using proprietary stable coins

that by a centralized issuer. So I am not really finding that I myself am particularly interested in stable coins on tempo and DoorDash. I do appreciate that there will be, I'm sure many people that might save money by using the rails presented to them by Tempo and DoorDash. And it's cool, I suppose, that crypto, whatever that means within this context has allowed them to,

save that money and gain those efficiencies. But in terms of me personally being interested by what is essentially fintech, I just, I just wish that there was something more interesting happening than DoorDash and Tempo partnering for stable coins as part of an initiative that doesn't really check any of the three big boxes that converts to something being interesting within the crypto context, at least on a personal level. You know, I'm hoping that that makes sense to some people. I try very hard not to be so cynical and not to be a hater specifically, but over time and over the next few years, this is going to become incredibly common that fintech is going

to pretend to be crypto in order to make it seem edgier, make it seem cooler and more progressive when I would really encourage people to think about, really like look inside how you feel about crypto versus traditional finance rails. and what is your definition for what makes any of this interesting at all? Because if there is no line between crypto and fintech, then I would have to say that crypto is no longer interesting to me on not just on a philosophical level, but on a technological level as well.

But that said, I'm happy to see this play out. And you never know. I suppose that so many people could adopt tempo and stable coins that that that that liquidedly bleeds over into other networks and and and you know all of a sudden tempo and stable coin and stable coins that happen on that network are effectively an on ramp for more for a new generation of people to come into the crypto space that's my optimistic take uh somehow i don't believe it at this point in time but but we'll have to see but uh but that about covers uh what I'm looking at. I mean, other stories in the news right now that Justin's son has sued,

World Liberty Financial, which, you know, I mean, I guess it's part for the course. And also, I mean, something that might warrant to mention is that there is, that, you know, prices might be down and everything like that, but there is apparently no bear market for dumb shit because I don't know if you called this story about a two-year-old war. that had escaped from a zoo and had been missing for nine days before it was caught. And I mean, this is a story that feels like it was ripped straight from 2021 because Nuku escaped from a safari enclosure at OWorld on April 8th after digging under a fence and was captured on 17th of April near a highway interchange.

It became a sensation, at least within South Korea. And of course, a meme coin was minted in his name. And, you know, I mean, I just, I mean, so as bleak as everything is in, feels in the crypto space, there is still this stuff happening. You know, here's the website for the meme coin, the wolf that wouldn't stay caged. And there's really no utility or reason for this coin to exist other than to capitalize on the story.

And of course, if you pull up the coin gecko, I'm going to show the chart on my screen here. And of course, the coin did not do very well. I mean, it did do well in the very beginning. If we can look at the market cap, it got up to $1.6 million. market cap and then it tanked just like all the other meme coins tend to do. But I mean, as as sucky as this stuff is, as silly as meme coins are, when I saw this, I was, it just looks bullish to me that with everything that's going on, there are still folks minting these meme coins and still trying to capitalize on hype in any way that they can, which again,

I mean, just like the Iranian tanker story with tether and Bitcoin, it is. somewhat reassuring that there are supreme DGens out there paying attention to to what's happening and trying to filter that attention through crypto and obviously profit from them on their own and we can debate the morals or ethics of that all day but at least it's still happening this story could have happened and there could have been no crypto there could have been no crypto angle at all, which I suppose that might be when we might need to worry that we are headed into total irrelevancy. But that's about it for today. Let me know what you think about all of this in the comments. Any tips on stories or stuff to chat about on the podcast?

Please feel free to reach out to me at DeCanellis on Twitter. My email is David at blockworks.com. just get at me with anything you think is cool and you never know i might chat about it on on screen so uh so again look after yourselves and uh we'll see you next week bye