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 BTC, XRP, ETH news: Major tokens under pressure as U.S. attacks Iran appeared on BitcoinEthereumNews.com.
Bitcoin BTC$62,830.35 and the broader cryptocurrency market came under pressure Tuesday after the US and Iran exchanged aerial strikes, sending the dollar higher. BTC, the leading cryptocurrency by market capitalization, slipped to $62,657 in Asian trading hours, down nearly 1% since midnight UTC, according to CoinDesk data. Ether (ETH), XRP (XRP), and solana (SOL) fell between 1% and 2.3%. WTI crude futures jumped more than 2% to $72.27, while the Dollar Index held steady above 101.00, maintaining Tuesday’s gains. The U.S. said it launched “powerful strikes” against Iran following attacks on three ships in the Strait of Hormuz, including Qatari and Saudi tankers. In response, Iran said it targeted “85 US military installations” in retaliation for strikes on its Hormozgan and Mahshahr provinces. The scale of the escalation appears to have pushed the two nations’ ceasefire
The KOSDAQ's decline highlights heightened market sensitivity to global monetary policy, potentially affecting future Fed rate expectations.
The post South Korea’s KOSDAQ index drops 4% amid global policy concerns appeared first on Crypto Briefing.
The post Solana Price Near $80 as Exchange Outflows Lift Bullish Bets appeared on BitcoinEthereumNews.com.
Key Insights: Solana price holds near $80 after $120M in SOL exchange outflows. SuperTrend shows a buy signal as $75 to $77 support stays key. World prediction market adds a fresh SOL crypto ecosystem catalyst. Solana (SOL) price slipped 1.85% recently, trading near $79.48 after a sharp weekly rebound. The pullback followed a 13.67% seven-day rise. Traders now must decide whether this is normal profit-taking or fresh weakness. Crypto market data shows SOL trading near $80, with a daily decline and more than $1.6 billion in 24-hour volume. About $120 million in SOL crypto reportedly left exchanges over the past week. That shift can reduce near-term sell-side liquidity when demand holds. Solana Price Steadies After Weekly Exchange Outflows Around 1.5 million SOL crypto moved away from trading platforms over the past week, according to market commentary from Ali Charts. Traders often
The post Solana’s Resurgence: A Sign of Renewed Potential in the Crypto Space appeared on BitcoinEthereumNews.com.
Solana has broken a nine-month streak of losses with its first positive monthly close since going through a prolonged bearish phase. This marks a potential turning point for the cryptocurrency, which saw its price and market capitalization increase significantly, adding approximately $14 billion in value. Continue Reading:Solana’s Resurgence: A Sign of Renewed Potential in the Crypto Space Source: https://en.bitcoinhaber.net/solanas-resurgence-a-sign-of-renewed-potential-in-the-crypto-space
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 South Korea: Tech-led strain and shifting flows – BNY appeared on BitcoinEthereumNews.com.
BNY’s Geoff Yu highlights that institutional investors are exiting South Korean equities, contributing to the KOSPI’s brief bear-market move, while retail buyers still support the market. He notes concerns over AI and semiconductor concentration, questions the sustainability of retail support, and contrasts South Korea with more measured liquidation in Taiwan and ongoing interest in Chinese equities. Institutional selling pressures KOSPI “iFlow data suggest institutional investors are continuing to exit South Korean equities en masse, likely contributing to the KOSPI’s brief move into bear market territory overnight. Retail investors remain on the other side of the trade, but the market is increasingly questioning how sustainable that support is. Taiwanese equities have also benefited from the AI and semiconductor narrative, though liquidation there has been more measured in scale and pa
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 Was It a Hack or Governance? BONK’s $21M Treasury Vote Divides Crypto appeared on BitcoinEthereumNews.com.
BonkDAO says it has alerted law enforcement about the treasury drain and is coordinating with exchanges to manage the situation. An anonymous wallet spent $4.4 million buying BONK tokens over two days, then used that stash to push through a governance vote that allowed it to drain $21.2 million from the BonkDAO treasury. The incident, which saw the attacker walk away with a $16.8 million profit, has split the crypto community between those calling it a theft and those insisting the DAO did exactly what it was built to do. How the Vote Went Through According to blockchain analytics platform Lookonchain, preparations for the theft started on June 30 when the attacker filed a proposal asking BonkDAO to move 4.426 trillion BONK, worth about $21.2 million, to a wallet they controlled. To pass, the proposal had to be supported by at least 1% of the BONK supply, which, per dat
