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 Can WLD Soak Up Daily Supply as AI Tokens Cool? appeared on BitcoinEthereumNews.com.
Worldcoin pushes fresh WLD into circulation every day. That’s by design. The protocol hands out tokens to the folks operating Orbs and to verified users through grants. The question is whether the market can keep absorbing that drip while the broader AI token trade cools off. It’s not a simple yes or no. It comes down to how quickly supply actually hits exchanges, who’s buying on the other side, and whether Worldcoin’s identity utility starts to matter more than the AI narrative that drove early hype. If you want a clean read on it, break the problem into three buckets: the emission pipes, the demand spigots, and the near-term risks that could tilt the balance.
Point
Details
Daily emissions are programmatic
WLD enters circulation via Operator and User Grants, per Worldcoin docs; size and pacing can be adjusted within program limits Worldcoin Docs.
Absorption hinges on
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 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
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.
The post BonkDAO’s estimated $20M drain exposes how memecoin treasuries can be raided by a simple vote appeared on BitcoinEthereumNews.com.
BonkDAO said a governance proposal drained about $20 million in BONK from its treasury, exposing how DAO votes can become a path to treasury funds. The group behind BONK said the proposal was malicious and that investigators had identified exchange wallets that had been used to buy BONK ahead of the vote. It added that investigators had identified exchange wallets used to buy BONK ahead of the proposal and that the DAO was working with exchanges, bridges, the Solana Foundation, and law enforcement to manage the aftermath and pursue recovery. The disclosed path points to the vote itself as a security boundary: a proposal moving through the DAO’s own decision system, with treasury assets on the other side. For DAOs with liquid treasuries, participation levels and execution delays become core security controls. Related Reading Build Finance DAO hostil
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.
