The Wire — August 1, 2026

The Wire — August 1, 2026

Coldcard losses grew to $70 million as CZ told users to spread their coins The tally from this week's Coldcard hardware wallet flaw rose to roughly $70 million, up from the $38 million first reported, after Galaxy Research widened its estimate of drained funds. Binance founder Changpeng Zhao responded by urging holders to diversify across multiple wallets and setups rather than trust one device or seed. The root cause still points to predictable seed generation on some older units, not a break in the Bitcoin network itself. Self-custody sits under every onchain position, and a seed an attacker can reconstruct undoes every strategy built on top of it. This is the risk that never shows up in an APY. Source: CoinDesk and Galaxy Research, published August 1. How we score risk

Solana Foundation's new CISO warned that AI is sharpening crypto scams Solana Foundation's newly appointed chief information security officer said generative AI is making phishing, fake support and impersonation attacks far more convincing, lowering the skill needed to run them at scale. The warning lands as wallet-draining kits and cloned interfaces spread across the ecosystem. For anyone farming Solana yields, the attack surface is rarely the protocol contract itself, it is the approval you sign and the site you signed it on. Verifying the destination before approving is now the cheapest security you can buy. Source: CoinDesk, published August 1. How we score risk

Jupiter Lend still leads Solana USDC yields as chain TVL holds near $4.7 billion On Solana, Jupiter Lend is paying the top USDC rate at scale, about 5.33% on roughly $421 million in deposits. Smaller markets on Loopscale and Kamino quote higher headline numbers near 6.7%, but on only a few million dollars of liquidity, where a single large withdrawal can move the rate. Solana DeFi TVL sits around $4.73 billion, roughly flat on the week. With the majors soft on the day, stablecoin lending is where the steady onchain return still lives, and the spread between the top rate and the rest is a reminder to check where a yield comes from before chasing the biggest figure. Source: DeFiLlama and yieldwire data, live. Compare Solana yields

Bitcoin ETFs closed July in the green despite a late-month selloff US spot Bitcoin ETFs finished July with net inflows even after selling picked up in the final week, a sign that longer-term allocators kept adding while short-term traders trimmed. The funds have become the main on-ramp linking traditional balance sheets to Bitcoin, and their monthly flows now read as a proxy for institutional appetite. For DeFi, steady ETF demand supports the collateral base under Bitcoin-backed lending and wrapped-BTC yields on chains including Solana. Source: Cointelegraph, published August 1. Explore verified yields

Russia widened its crypto mining ban to Moscow through 2032 Russia extended its regional mining restrictions to include the Moscow area, with the ban now set to run until 2032, citing pressure on the power grid. The move pulls a meaningful slice of potential hashrate offline and adds to a patchwork of national rules that keep reshaping where Bitcoin gets mined. Mining policy rarely moves DeFi yields directly, but it shifts the geography of network security and the energy costs that set a floor under miner selling. Source: Cointelegraph, published August 1. See yields across chains

An XRP Ledger upgrade restored features once pulled over critical bugs The XRP Ledger shipped an upgrade that reintroduces functionality removed earlier after critical bugs were found, this time with fixes the developers say address the original flaws. Reactivating code that previously failed audit is a live test of how much the review process has matured. The episode is a useful case study for DeFi generally: shipping a feature is easy, and the hard part is proving the same edge cases will not resurface. Source: CoinDesk, published August 1. How we score risk

Numbers

• BTC: $63,038 (-1.1%)
• SOL: $72.90 (-0.8%)
• ETH: $1,867 (-0.7%)
• Solana DeFi TVL: $4.73B
• Top USDC yield (Solana): Jupiter Lend at 5.33%

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