⚠️ DeFi Wracked By DNS Vulnerabilities
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GM Defiers!
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
🙏Sponsored
📈 Markets in the last 24 hrs:
| Ticker | Value | 24h | |
|---|---|---|---|
 | Bitcoin | $57,944 | 0.25% |
 | Ethereum | $3,122.68 | -0.69% |
 | BNB | $530.27 | -0.29% |
 | Solana | $138.53 | -1.42% |
 | XRP | $0.46 | 3.60% |
🎬WATCH
Check out our interview with Dr. Marwan Al Zarouni, the CEO of the Dubai Blockchain Center and advisor to Dubai’s government. Catch up on our interview with Chris Bradbury, the CEO of Summer.fi, to learn about the project’s new points campaign. Plus, watch our explainer diving into passive income strategies using DeFi protocols 👀
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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.
SPONSORED POST
The OEV Network was recently launched by API3 and is available on 37 networks, marking a significant milestone in the next evolution of oracle infrastructure used to secure DeFi protocols.
The OEV Network is a major upgrade for the API3 Oracle Stack and is designed to address the pervasive issue of maximal extractable value (MEV) on lending protocols, which has historically led to millions of dollars of lost value each year. By offering lending protocols a solution to recapture this value, the OEV Network not only enhances the financial viability of these protocols but will likely disrupt the existing business models in this competitive on-chain industry.
READ MORE: API3's OEV Network Transforms Lending Protocols with Next-Generation Oracle Solution
⛏️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 (CryptoSlate)
- 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)
🔥 TRENDING
- CFTC Chair Asserts At Least 70% of Crypto Assets Are Not Securities
- Lyra Finance Offers Leveraged Exposure to ETH Through Ethena
- Terraform Labs To Sell Four Businesses Amid Bankruptcy Proceedings
- Messi-Promoted Memecoin Faces Backlash Over Alleged Hefty Insider Allocations
- Crypto Markets Rally as Fed Chair Cautions Against Prolonged High Interest Rates
- Filecoin Foundation Partners With Theoriq To Build Smart AI Agents
- Curve Finance Users are Locking Record Amounts of CRV Tokens in the DEX
- Grayscale Targets July 18 for Potential ETH ETF Creation
- Liquid Staking on Solana Soars To All-Time High
- Crypto Markets Rally as Spot Bitcoin ETFs Record Highest Inflows Since June 6
- Paxful's Co-Founder Pleads Guilty to Anti-Money Laundering Charges
- Trump Doubles Down On Pro-Crypto Pivot In RNC-Backed Policy Doc
- Blackrock’s Tokenized Treasuries Fund BUIDL Tops $500M
- Solana DEX Raydium Flips Uniswap in Weekly Fees
- Crypto Markets Roiled as Mt. Gox’s Multi-Billion Payouts Start
