An attacker exploited BonkDAO's governance system on July 6, draining 4.426 trillion BONK tokens — worth approximately $21.2 million — from the protocol's treasury.
The attacker has since sold 800 billion BONK for around $2–2.48 million and still holds an estimated 2.4 trillion tokens, creating persistent selling pressure. BONK's price has fallen roughly 40% since the incident.
Governance exploits of this kind highlight the risk of poorly secured on-chain voting mechanisms, where an attacker can pass malicious proposals and execute treasury withdrawals without breaking smart contract code. Users with BONK exposure should monitor on-chain activity closely as further sales remain possible.
🌐 Malaysia Blockchain Week 2026 Eyes Kuala Lumpur as Web3 Hub
Malaysia Blockchain Week 2026 is positioning Kuala Lumpur as a central destination for Web3 and AI development in the Asia-Pacific region, targeting builders, investors, and institutions active in the space.
The event reflects broader momentum in Southeast Asia, where Web3 adoption and real-world use cases are expanding. Malaysia is being presented as a meeting point for global capital and innovation in the blockchain sector.
As APAC's Web3 activity grows, events like this signal the region's increasing role in shaping the next phase of decentralized infrastructure and institutional engagement.
🧩 Crypto-Style Perps Bring AI Compute to Derivatives Markets
Crypto-native derivatives are entering the AI compute sector before traditional exchanges, with perpetual futures and prediction markets already tracking GPU pricing ahead of planned regulated offerings.
According to Bernstein, CME and ICE are targeting late 2026 for regulated GPU futures. In the meantime, platforms like Hyperliquid are already seeing activity — a prediction market contract on Hyperliquid reaching $100 by December 31, 2026 is currently priced at 30% YES.
The development signals growing crossover between crypto-native financial infrastructure and AI compute markets, with decentralized venues moving faster than their regulated counterparts.
🏦 SBI Holdings acquires majority stake in Singapore's Coinhako
Japan's financial conglomerate SBI Holdings has completed a majority acquisition of Coinhako, a Singapore-based crypto exchange, following approval from the Monetary Authority of Singapore (MAS).
Coinhako holds a digital payment token license in Singapore and serves approximately 400,000 users. The deal folds the exchange into SBI's expanding digital asset network across Asia, strengthening its foothold in Southeast Asia.
SBI has indicated the acquisition could accelerate its plans in stablecoins, tokenized assets, and cross-border digital finance — areas of growing regulatory and institutional focus across the region.
🔐 UK Gang Jailed for $5.4M Crypto Impersonation Scam
A UK criminal gang has been sentenced to prison after stealing over £4 million (~$5.4M) in cryptocurrency by impersonating police officers.
The group used convincing fake police websites to deceive eight victims into handing over their crypto holdings. By posing as law enforcement, the gang exploited victims' trust in official institutions to carry out the fraud.
The case is a reminder that legitimate police and regulatory bodies will never contact individuals to request cryptocurrency transfers.
Tether has taken a $20 million strategic stake in Ualá, the Argentine neobank, as part of a broader $197 million funding round completed in March that valued the company at $3.2 billion.
The investment is purely financial — Ualá has confirmed no operational integration with Tether's stablecoin products is planned, citing regulatory hurdles facing banking institutions seeking to bring such assets to Latin American markets.
The move signals Tether's continued push to deepen its presence in Latin America, where stablecoin adoption has been growing steadily amid currency volatility across the region.