⚠️ DeFi Wracked By DNS Vulnerabilities

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Several leading DeFi protocols were hit by domain name server (DNS) attacks, with more than 120 dApps also flagged as vulnerable. The incident resulted from the migration of Google’s domain business to Squarespace, which disabled the two-factor authentication securing many websites.

Crypto prices pulled back after rebounding from the weekend’s violent sell-off throughout the week. The move comes after the German government offloaded $2.2 billion worth of BTC in the past five days.

The Malaysian government estimates that underground Bitcoin miners were responsible for $682 million worth of stolen electricity since 2018. The data comes despite Malaysian authorities seeking to clamp down on Bitcoin mining since 2019.

Plus, MOCA rockets 100% to $140 million market cap despite Mocaverse NFT prices crumbling.

✍️ In today’s newsletter:

Google domains migration leaves DeFi vulnerable to DNS attacks
Crypto markets dip after Germany offloads $2.2 billion in BTC
Malaysia says illegal Bitcoin miners are stealing electricity
MOCA rallies as Mocaverse NFTs crash

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👀More Than 120 DeFi Front-End Could Be Vulnerable To DNS Attacks

More than 120 front-ends for popular DeFi dApps may have been placed at risk amid the migration of Google’s domain business to Squarespace. The migration caused the two-factor authentication securing websites to be disabled, leading to DNS attacks targeting Compound, Pendle, and Celer.

📉Bitcoin Price Dips As Germany Offloads $2B Of BTC In One Week

Digital assets pulled back after a week of steady recovery following last weekend’s heavy sell-off. The move coincides with German Authorities offloading $2.2 billion worth of BTC in the past five days. The German government’s wallet now holds 3,846 BTC ($223,000) — down from 50,000 BTC ($3.2 billion) on June 19.

⛏️Malaysian Government Blames Bitcoin Mining for Electricity Theft

Malaysia’s Minister of Energy and Water estimates that black market Bitcoin miners were responsible for stealing $682 million worth of electricity since 2018. The minister said that combating electricity theft is now a top priority for the government.

↕️️MOCA Token Soars to $800M Fully-Diluted Valuation as Mocaverse NFTs Crater

The price of MOCA, the governance token of the Mocaverse NFT community, has doubled since debuting at a roughly $70 million market cap less than 48 hours ago. However, the move comes as the floor price of Mocaverse NFTs suffered brutal losses, with the tokens tumbling 47% since July 9.

🌍 ELSEWHERE

Morgan Creek Digital to Raise up to $500M for New Web3 Venture Capital Fund (CoinDesk)
UK Law Commission sets roadmap to identifying legal status of DAOs (C ryptoSlate)
US lawmakers push for hostage designation in Binance exec’s detention in Nigeria (The Block)
Solana’s Firedancer Client Builds First Block on Testnet (Unchained)