The post BONK Treasury Loses $20M to Malicious Governance Vote appeared on BitcoinEthereumNews.com.
BONK News South Korea’s three largest digital-asset exchanges — Upbit, Bithumb and Coinone — placed BONK, the Solana-based meme coin, under a formal trading-caution designation on July 7. The exchanges’ official announcements state the flag took effect at 4:00 p.m. local time and runs through the first week of August, citing an unresolved security incident and the inadequate disclosure of material information. The coordinated action followed the draining of roughly 20 million dollars in BONK from the project’s decentralized treasury. Under the designation, each platform will conduct an additional review that could end in reinstatement or a full delisting, leaving holders facing weeks of uncertainty around the token’s exchange standing. On-chain data shows the exploit was executed entirely through legitimate transactions. An anonymous actor spent roughly 4.4 million dollars accumulating B
The post Treasury and Commerce Are Fighting Over Who Gets to Run America’s Bitcoin Reserve appeared on BitcoinEthereumNews.com.
More than 16 months after President Donald Trump signed the […] More than 16 months after President Donald Trump signed the executive order creating a U.S. Strategic Bitcoin Reserve, the government still hasn’t decided who is allowed to run it. The Treasury and Commerce departments are now in open competition for control of the reserve, according to a Bloomberg report published Monday and citing people familiar with the internal discussions. At issue isn’t just bureaucratic turf. It’s a live legal question: whether Treasury actually has the statutory authority to hold and manage an asset as volatile as bitcoin on the government’s balance sheet at all. That question wasn’t supposed to still be open. Trump’s Executive Order 14233, signed March 6, 2025, was explicit: the Treasury secretary would establish an office to administer the reserve, capitalized entirely
The post Someone Stole $21M From BonkDAO Without Hacking Anything appeared on BitcoinEthereumNews.com.
An attacker has stolen $21.2 million from the BonkDAO treasury without hacking anything. He purchased BONK tokens for $4.4 million, proposed via the governance forum that nobody checked for seven days. He voted yes for the proposal with his own tokens, and watched the funds move to his wallet automatically. Once executed, it was irreversible. In a few hours, BONK price has dropped approximately 6.59% with 955.47 billion volume. The token went from a high near 0.00000490 to 0.00000417 as the news spread. Market cap lost approximately $40 million and some exchanges halted BONK withdrawals. BONK price has dropped approximately 6.59% Details of the BonkDAO Steal The proposed name for the project was BIP #76, Sowellian BonkDAO. It talked about governance improvements, asset monetization, and rebuilding the token, but it didn’t explain what this meant in concrete terms. The transaction con
The post Bonk Price Slides After $20M DAO Attack Hits Solana Memecoin appeared on BitcoinEthereumNews.com.
Key Insights Bonk Price dropped after a DAO treasury attack. BonkDAO blamed a malicious governance proposal. Bonk crypto faced pressure as memecoin demand weakened. Bonk Price fell after BonkDAO reported that an unknown entity drained treasury tokens through governance. The attack hit the Solana-based memecoin project and forced the team to contact law enforcement. The move added pressure on bonk crypto during a weak period for memecoins. Traders reacted because the exploit targeted governance, not only wallet or exchange security. Bonk Price Reacts To Treasury Drain Bonk Inu said on X that BonkDAO detected a malicious governance proposal behind the treasury loss. The project said it worked with law enforcement to recover funds and identify responsible parties. Source: Bonk Inu CoinMarketCap data showed BONK traded near $0.000004 after dropping 7.89% over the past 24 hours. The mo
The Fed's hawkish stance could lead to increased Treasury yields, impacting risk assets like Bitcoin and altering market rate expectations.
The post Fed minutes set to reveal hawkish surprise that could rattle crypto markets appeared first on Crypto Briefing.
Brazil's intervention in its bond market highlights the challenges of managing sovereign debt amid rising yields, impacting global investor confidence.
The post Brazil’s Treasury plans to intervene in $447B inflation-linked bond market appeared first on Crypto Briefing.
The post DOJ Advances US Strategic Bitcoin Reserve Plan. appeared on BitcoinEthereumNews.com.
DOJ reviews legal authority for the US Strategic Bitcoin Reserve with federal agencies. Treasury and Commerce continue discussions over oversight of national Bitcoin holdings. Congress considers BITCOIN and ARMA Acts to establish the reserve through legislation. The U.S. Department of Justice is working with the Treasury and Commerce departments to establish a Strategic Bitcoin Reserve despite ongoing disagreements over oversight. The legal review marks another step toward implementing the reserve, although federal agencies continue evaluating the most appropriate governance structure. DOJ Reviews Legal Authority for Bitcoin Reserve The U.S. Department of Justice’s Office of Legal Counsel is working closely with the Treasury and Commerce departments on the Strategic Bitcoin Reserve initiative. The effort aims to determine which federal agency has the legal authority to oversee the proposed res
DOJ reviews legal authority for the US Strategic Bitcoin Reserve with federal agencies. Treasury and Commerce continue discussions over oversight of national Bitcoin holdings. Congress considers BITCOIN and ARMA Acts to establish the reserve through legislation. The U.S. Department of Justice is working with the Treasury and Commerce departments to establish a Strategic Bitcoin Reserve […]
The post DOJ Advances US Strategic Bitcoin Reserve With Treasury, Commerce appeared first on Live Bitcoin News.
