The decentralized autonomous organization (DAO) behind the Bonk (BONK) memecoin reported that an unknown entity had removed $20 million worth of the tokens in what it described as an attack using a “malicious governance proposal.”

In a Monday X post, the Bonk project said that it had informed law enforcement after the $20 million attack and was working to “recover funds and identify those responsible.” According to BonkDAO, the parties had drained $20 million in tokens from the project’s treasury on the Solana blockchain.

One of the dog-themed memecoins, along with tokens like Dogecoin (DOGE) and Shiba Inu (SHIB), BONK launched in December 2022, with its developers airdropping half of the token’s total supply. The price of BONK dropped about 7% over 24 hours amid reports of the attack, to about $0.05.

Source: Bonk Inu

The market capitalization of the top memecoins, including DOGE, SHIB and Pepe (PEPE), hit a two-year low last week, dropping to about $22 billion before recovering to more than $26 billion in July. According to CoinMarketCap data, the total market cap was $25.3 billion at the time of publication, down more than 54% over the previous 12 months.

Related: US senator calls for ban on elected officials issuing memecoins

In May, the memecoin launch platform DxSale reported losing $7.3 million in tokens following a cyberattack affecting liquidity providers on the BNB Chain. Although sleuths were able to identify the attacker’s wallet, one expert said the infrastructure used to move the funds could make tracing them difficult.

Trump memecoin holders lose big as president reports billions in crypto earnings

On Saturday, the New York Times reported that about 1 million investors in US President Donald Trump’s memecoin, Official Trump (TRUMP), had collectively lost $3.8 million as of June 30. The report, citing data from blockchain analytics company Nansen, came a few days after the president disclosed that he had earned more than $1.4 billion from his crypto-related ventures, including about $635 million from memecoin projects.

Magazine: Does ‘Paper Bitcoin’ mean there’s an unlimited supply of BTC?

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Crypto-related losses have fallen 46.8% year over year to $1.32 billion during the first half of 2026, but blockchain security firm CertiK has warned that the decline does not indicate a safer digital asset ecosystem.

According to CertiK’s H1 2026 security report, the lower loss figure is heavily influenced by the absence of an event on the scale of the $1.4 billion Bybit exploit recorded in the same period last year.

The firm said a simple comparison of headline numbers creates a misleading impression because attackers are carrying out fewer random campaigns and instead executing more targeted operations that inflict heavier damage per incident.

Attack patterns have become more concentrated

Breaking down the first-half figures, CertiK reported that phishing remained the leading cause of crypto theft during the first quarter, resulting in losses of $508.2 million. During the second quarter, however, wallet compromises overtook phishing as the largest attack method, accounting for $807.5 million in stolen assets.

A significant share of those losses came from just two major incidents. CertiK said more than 70% of the second-quarter total stemmed from attacks targeting KelpDAO and Drift Protocol, both of which are believed to have been carried out by North Korean state-sponsored hackers.

While total losses appear lower, CertiK said the industry is facing a structurally higher rate of attack activity than a year earlier. Excluding the exceptional Bybit hack from 2025, the firm concluded that individual attacks are becoming more financially damaging and increasingly focused on high-value targets instead of opportunistic exploits.

Separate findings from blockchain intelligence firm TRM Labs support that assessment. In its H1 2026 report released on Wednesday, TRM Labs said the decline in the total value stolen should not be interpreted as evidence that attackers have become less capable. According to the firm, the lower figure is largely the result of there being no record-breaking theft comparable to the Bybit incident during the reporting period.

TRM Labs also found that the number of crypto-related security incidents rose sharply from 83 in the first half of last year to 207 in H1 2026, the highest six-month total the company has recorded. Its analysis further showed that smart contract exploits accounted for 125 incidents, representing roughly 60% of all recorded attacks.

Private key security remains the main defense

Alongside its assessment of attack trends, CertiK identified private key management and multisignature wallet controls as the most critical areas requiring stronger protection. The firm recommended that crypto protocols and institutions securing substantial onchain assets strengthen every layer of key management, including hardware security, multisignature governance and geographic distribution of wallet signers.

CertiK said investments in these controls can produce disproportionately strong security benefits because they directly reduce the impact of attacks targeting sensitive wallet infrastructure.

Attention has also turned to the growing role of North Korean cyber operations. According to TRM Labs, North Korean hackers have stolen more than $6 billion worth of cryptocurrency since 2017. The recent attacks linked to KelpDAO and Drift Protocol prompted officials from the United States, Japan and South Korea to meet late last month to discuss ways to curb North Korea’s cyber activity and the illicit revenue generated through crypto theft.

During those discussions, government representatives acknowledged that North Korean IT workers are increasingly using artificial intelligence to improve the scale, speed and sophistication of cyber operations. Several cybersecurity leaders have separately warned that AI-assisted techniques are making protocol exploits harder to detect and defend against.

Meanwhile, hardware wallet maker Ledger has continued to advise crypto users to keep recovery seed phrases offline and never disclose them, describing those practices as basic but essential safeguards against phishing attacks and unauthorized wallet access.

Key takeaways:

• Bitcoin derivatives show resilience despite bearish pressure from Strategy’s Bitcoin sales.
• Onchain Bitcoin data points to sellers’ exhaustion, strengthening the $60,000 support level.

Bitcoin price quickly recovered from the selloff to $61,300 that followed Strategy’s Bitcoin sale announcement. Despite the negative impact on traders’ sentiment, the additional $216 million cash position eased concerns about the company’s ability to pay dividends and cover its debt. Does the quick recovery suggest that Bitcoin bulls back in control?

Bitcoin perpetual futures annualized funding rate. Source: Laevitas

The Bitcoin perpetual futures annualized funding rate jumped to 9% on Monday, indicating balanced demand between bullish and bearish leverage. While far from displaying conviction, the indicator distanced itself from the bearish momentum on Saturday marked by negative funding rates. But unlike the futures markets, Bitcoin options signaled minor stress on Monday.

Bitcoin options premium put-to-call ratio at Deribit. Source: Laevitas

The put (sell) options premium at Deribit outpaced the equivalent call (buy) instruments on Monday, reverting the trend from Thursday and Friday. Typically, periods of stress can easily push the indicator above 2 times, hence the current 1.15 level remains under the neutral range. Bitcoin futures and options displayed resilience, although the bounce to $63,500 was unable to instill bullishness.

Bitcoin ETF flows reversal and long-term holders conviction favor $65,000 rally

Bitcoin bears might have underestimated the relevance of the $223 million net inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) on Friday, the first after 10 consecutive outflows. The record-high $4.51 billion net outflows in June negatively impacted trader sentiment.

Still, the sell pressure will eventually subside, and the potential reversal in ETF flows could be enough to instill bullishness in Bitcoin derivatives markets.

US-listed spot Bitcoin ETFs daily net flows, USD. Source: SoSoValue

Part of the recent bearishness can be pinned to the record drawdown in Strategy preferred perpetual equity Stretch (STRC US), which offers holders an attractive 12% yield. However, new stock issuance can occur only at the fixed $100 price; hence, the company currently has fewer instruments available to support the dividend payout.

Strategy holds sufficient cash reserves to cover 17 months of dividends; thus, the urgency of additional Bitcoin sales is debatable.

Strategy preferred perpetual equity Stretch (STRC US). Source: TradingView

Regardless of Strategy’s extremely low 8% debt leverage, Bitcoin bears have the upper hand as the company endures $8 billion in unrealized losses from its Bitcoin purchases. Bitcoin bulls’ biggest hopes rely on long-term holders’ conviction and onchain data pointing to selling exhaustion, strengthening the $60,000 support level.

Bitcoin transfers from long-term holders to exchanges, BTC. Source: Glassnode

Transfers from long-term holders to exchanges are down to 4,130 BTC per day on average, from 8,040 BTC one week prior. Nonetheless, unless the spot Bitcoin ETFs exhibit a sequence of relevant net inflows, derivatives traders will likely remain skeptical of sustained bullish momentum, reducing the odds of a sustained rally above $65,000.

Presently, Strategy’s huge unrealized losses and skepticism in Bitcoin derivatives point to further pressure from bears.

South Korea has given Polymarket an opportunity to defend its operations before regulators decide whether to seek corrective action over concerns that the prediction market platform may violate the country’s gambling laws.

The Broadcasting, Media and Communications Review Committee said on Monday that it will hear Polymarket’s explanation before reaching a final decision on a corrective request tied to the platform’s legality and service model. According to a machine translation of the committee’s statement, regulators decided to allow the company to present its position so they could fully examine both the legal status of Polymarket and how its services operate.

Rather than issuing an immediate recommendation, the committee said it wanted to verify whether the platform’s activities fall within South Korea’s legal framework governing online gambling-related services. The review could determine whether authorities proceed with corrective measures against the platform.

Regulators are reviewing whether Polymarket violates gambling laws

South Korea’s National Gambling Control Commission Act classifies illegal gaming businesses as services that facilitate speculative gambling over the internet. The law also gives regulators authority to identify, monitor, and respond to businesses that may fall into that category.

As part of that review, authorities are assessing whether Polymarket’s prediction markets comply with domestic regulations. The committee’s decision to seek the company’s response comes before any final enforcement recommendation is made.

Outside South Korea, Polymarket already limits access in multiple jurisdictions. According to the company, users in 33 countries cannot access its platform, including the United States, the United Kingdom, France, Germany, Brazil, Singapore, Japan and Australia. Polymarket says those restrictions are designed to comply with sanctions, local financial regulations, gambling and prediction market laws, anti-money laundering requirements and Know Your Customer rules.

The company also blocks access in selected regions within otherwise supported countries, including Alberta, British Columbia, Ontario and Quebec in Canada, along with Crimea, Donetsk and Luhansk in Ukraine.

Authorities have expanded scrutiny beyond individual users

Attention from South Korean authorities has increasingly moved beyond local users to the platform itself. The latest review follows an earlier criminal investigation involving South Korean users who allegedly participated in election-related prediction markets that authorities considered illegal gambling.

On June 5, the Gangwon Provincial Police opened what local media described as the country’s first investigation into local Polymarket users over suspected illegal gambling. According to those reports, the investigation was requested by the National Police Agency.

South Korean law carries financial penalties and possible prison terms for gambling-related offences. Under the country’s Criminal Act, gambling can result in a fine of up to 10 million won (about $6,500), while habitual gambling may carry a prison sentence of up to three years or a fine of up to 20 million won. Separately, operating a gambling venue for profit is punishable by up to five years in prison or a fine of up to 30 million won.

For now, the review committee has not announced any enforcement action against Polymarket. Instead, regulators have chosen to consider the company’s explanation before deciding whether corrective measures should be requested, leaving the platform’s status in South Korea dependent on the outcome of that legal assessment.

Ripple said it has received full authorization under the European Union’s MiCA crypto framework after Luxembourg’s financial regulator granted the company a Crypto Asset Service Provider (CASP) license.

The authorization follows Ripple’s preliminary approval in June and, together with the company’s existing Electronic Money Institution license, allows the blockchain payments company to offer regulated crypto-asset services across the European Economic Area (EEA).

Ripple said the approval makes it one of a small number of digital asset companies with full authorization under MiCA. The company now holds more than 75 regulatory licenses worldwide, including authorization from the United Kingdom’s Financial Conduct Authority secured in January.

“This CASP authorisation means Ripple enters the post-transitional MiCA era fully compliant and ready to scale,” said Cassie Craddock, Ripple’s managing director for the United Kingdom and Europe.

Source: Cassie Craddock

Related: Binance outflows triple to $1.2B as ETH withdrawals hit 3-year high

Europe begins enforcing MiCA crypto rules

Ripple’s approval follows the end of the European Union’s MiCA transition period on July 1, when crypto companies were required to obtain authorization or cease offering regulated services in the bloc. The framework allows authorized companies to generally passport regulated crypto services throughout the EEA under a single license.

On Friday, the European Securities and Markets Authority (ESMA) published an updated register listing 280 licensed crypto-asset service providers. The total rose from 243 a week earlier after 37 companies, including Standard Chartered, FalconX and Sygnum Europe, were added.

Not every company secured MiCA authorization before the deadline. Binance, the world’s largest cryptocurrency exchange by trading volume, withdrew its MiCA application in Greece ahead of the July 1 transition and said it would pursue authorization in another member state while taking steps to comply with the bloc’s new rules.

The bloc has now entered MiCA’s enforcement phase, with unauthorized crypto companies expected to wind down operations or face penalties. While ESMA coordinates supervision and maintains the bloc’s register of authorized crypto companies, day-to-day enforcement is carried out by national regulators, meaning implementation is likely to vary across member states.

Belgium’s Financial Services and Markets Authority has already begun applying the new rules. On Monday, the regulator identified six crypto-asset service providers it said were operating without authorization and added them to its list of unauthorized crypto-asset service providers.

Belgium’s FSMA warns against unauthorized crypto providers. Source: FSMA

Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express

Red candles don’t scare everyone off the market this week. Polkadot sits near $0.83 after a 6.53% weekly slide, still pinned below its major moving averages, while Zcash trades closer to $411.72 following a steadier 3.22% bounce off support. Both charts tell a familiar story of hesitation, sellers still holding one asset down and buyers slowly testing their footing under the other.

Then BlockDAG (BDAG) shifts the conversation entirely. Priced at $0.00000066 with a $0.03 buyback figure, the math points toward a 150X outcome, and a 100% World Cup bonus can push that toward 300X. BlockDAG X has opened pre-registration, and anyone who signs up before launch walks away with $1,000 in trading credit, making it the top crypto to buy today.

Polkadot Slips to $0.83 Under Bearish Pressure

The Polkadot price recently dipped to $0.83, marking a 6.53% decline over the past week. This drop keeps the asset well below its key weekly moving averages, confirming that sellers still control the market’s medium- and long-term direction.

Technical indicators like the MACD and RSI show strong downward momentum, with no immediate buy signals in sight. Because of this, the Polkadot price is expected to consolidate between $0.75 and $0.91 over the next week.

While the outlook remains cautious, some analysts suggest these deeply oversold conditions could eventually set up a reversal. However, until the Polkadot price breaks above $0.91, the current downtrend is likely to continue.

Zcash Holds Key Support Signaling Potential Rebound

The Zcash price has shown early signs of a rebound, recently rising 3.22% to trade around $411.72. The coin is currently holding a critical support zone, which technical analysts suggest could serve as the starting point for a broader recovery.

While buying pressure is slowly building, the Zcash price needs to clear immediate resistance levels at $428 and $436.92 to confirm a true bullish breakout. Bollinger Bands show that while selling pressure has eased, the market remains in a consolidation phase.

If buyers fail to defend the current support levels, a drop toward $361.92 could complicate recovery efforts. Ultimately, clearing these overhead barriers is essential for the Zcash price to sustain its upward momentum.

BlockDAG X Pre-Registration Delivers $1,000 Credit Bonus

BlockDAG continues to strengthen its position as one of the top crypto projects to watch, but its biggest milestone yet has just arrived. BlockDAG X is now officially live for pre-registration, marking the project’s next major step ahead of its full exchange launch in just 14 days. With the ecosystem expanding rapidly and the exchange almost here, the timing has made the overall BlockDAG story even more compelling.

The excitement around BlockDAG X goes beyond the launch itself. Users who pre-register at BlockDAGX.io will receive $1,000 in trading credit when the exchange goes live, with Spot Trading, Futures Trading, and dedicated iOS and Android apps available from day one. Those who enter the code “EARLY” will also unlock Priority Buyback Access, moving their payout date forward from October 1 to September 1, an added incentive for early participants.

The exchange launch is backed by an ecosystem that is already seeing significant real-world activity. The BlockDAG Casino has attracted more than 13,000 users in its first month alone, generating over $15 million in deposits and more than $150 million in wagers. These figures highlight that BlockDAG is building products people are actively using, rather than relying solely on future expectations.

The project’s pricing structure further boosts momentum. BDAG is currently available at just $0.00000066 per coin, while holders can sell their coins back to the network for $0.03 each, representing a potential 150X return. On top of that, the World Cup Bonus doubles every BDAG purchase with 100% extra coins, increasing the upside to a potential 300X return.

With BlockDAG X now open for pre-registration, a fully functional exchange launching in just two weeks, an ecosystem already generating millions in user activity, and a pricing model built around significant upside, BlockDAG is entering its next phase with considerable momentum and growing anticipation.

Conclusion

Polkadot’s slide to $0.83 and Zcash’s climb toward $411.72 sum up a week where caution and confidence sit side by side, with $0.75-$0.91 and $428-$436.92 as the levels to watch.

BlockDAG closes the stretch as the top crypto to buy today, with BlockDAG X pre-registration live, $1,000 in trading credit for early sign-ups, Spot and Futures trading, iOS and Android apps, and the EARLY code moving payouts to September 1. Its casino has drawn 13,000 users, $15 million in deposits, and $150 million in wagers, while $0.00000066 against a $0.03 buyback points toward 150X, doubled to 300X by the World Cup bonus.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

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