The Wire PM — July 6, 2026
BonkDAO's treasury is drained for $20 million in a governance attack as stolen BONK hits exchanges and Upbit halts withdrawals.
The Wire PM — July 6, 2026
BonkDAO treasury drained for $20 million in governance attack BonkDAO confirmed its treasury lost about $20 million after an attacker pushed through a malicious governance proposal, one of the largest on-chain governance exploits to hit Solana this year. The stolen BONK began moving to centralized exchanges within hours, and Upbit suspended BONK deposits and withdrawals while the team works with exchanges, the Solana Foundation and law enforcement to trace and freeze the funds. BONK fell roughly 7% on the day. Governance attacks turn a protocol's own voting mechanics into the exploit path, the kind of risk a security score has to price in before an APY, not after. Source: The Block, published July 6. How we score protocol risk →
Court revives fraud claim against Silbert and DCG over Genesis Yield A judge reinstated a fraud claim against Barry Silbert and Digital Currency Group in the class action over Genesis Yield, the lending program that let customers deposit crypto for interest payments before Genesis collapsed in 2023. The revived claim keeps DCG and its founder personally exposed as the case moves toward discovery. It is a reminder that centralized yield programs marketed as low risk carried counterparty exposure that only surfaced once redemptions froze. Source: The Block, published July 6.
Strategy sells 3,588 BTC for $216 million Strategy sold 3,588 BTC for about $216 million, a rare disposal for a company that has spent years accumulating. Its remaining stack still represents more than 4% of bitcoin's 21 million supply cap, worth roughly $52.3 billion, though the position sits underwater at current prices near $63,600. The sale funds obligations rather than signaling a change in thesis, but any selling from the largest corporate holder draws attention with bitcoin still well below its cycle high. Source: The Block, published July 6.
TeraWulf signs 20-year Anthropic lease worth $19 billion Bitcoin miner TeraWulf signed a 20-year data center lease with Anthropic expected to generate about $19 billion in revenue, sending its stock sharply higher. Anthropic will take 401 MW of IT load at TeraWulf's Justified Data site in Hawesville, Kentucky. It is the latest miner to convert power and hosting capacity into AI compute, a trade that has repriced several mining stocks this year as energy and cooling become the scarce asset. Source: The Block, published July 6.
Numbers (Updated)
- BTC: $63,636 (+1.4% 24h)
- SOL: $81.86 (+1.1% 24h)
- ETH: $1,792 (+0.6% 24h)
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