Liquidity pools backing dozens of Sui ecosystem tokens were drained on July 11, with BlueMove, a decentralized exchange, identified as the source of losses estimated between $400,000 and $550,000. The BlueMove team allegedly shipped a backdoor themselves through a May 31 package upgrade that added a double-mint mechanism, then made the code immutable to lock it in place.
A Brazilian court ordered Coinbase to repay $100,000 to a customer, rejecting the company’s defense that self-custody wallets eliminate liability. The ruling applies consumer protection law to crypto products, requiring companies to ensure security regardless of technical architecture.
On-chain investigator ZachXBT traced a LAB team wallet that sold 18.4 million tokens worth $18.3 million, crashing the price 56% from $1.20 to $0.55. His analysis reveals over 95% of LAB tokens remain under insider control, raising serious questions about the token’s market integrity.
Ripple spent $150 million fighting the SEC’s claim that XRP was an unregistered security, even when walking away would have been cheaper. CEO Brad Garlinghouse refused a settlement offer to protect hundreds of jobs and prove that XRP—which confers no ownership rights—doesn’t fit the legal definition of a security.
A $5 million theft from the Hedera network on July 11 showcased sophisticated laundering tactics, with the attacker bridging funds to Ethereum via LayerZero and converting assets within hours. Hedera’s hashgraph architecture and poor block explorer made the theft harder to trace in real time, highlighting how non-EVM chains’ tooling gaps can compound security incidents.
Robinhood is opening its crypto trading infrastructure to AI agents, letting users deploy autonomous software that analyzes markets and executes trades within user-set limits. The move intensifies competition with Coinbase as both platforms race to become the default infrastructure for autonomous financial software.
Landmark crypto legislation quietly became law Friday when Congress passed a housing bill with overwhelming bipartisan support—358-32 in the House, 85-5 in the Senate. The bill bans the Federal Reserve from issuing a retail digital currency through 2030 while allowing private permissionless alternatives that preserve privacy protections.
SK Hynix raised $26.5 billion in its Nasdaq debut Friday, giving U.S. investors direct access to the world leader in high-bandwidth memory—the critical chip powering AI infrastructure. The South Korean chipmaker’s listing capitalizes on surging demand, with customers already telling management that its planned capacity increases won’t meet future needs.
Kraken is rebuilding its mobile app around autonomous AI agents that can observe markets, generate trade recommendations, and execute orders without user approval at each step. Unlike competitors treating AI as an add-on feature, Kraken is restructuring its entire application around agents—a fundamental architectural shift that carries new liability questions for users and exchanges alike.
Russia’s financial-intelligence agency is gaining sweeping authority to monitor cryptocurrency transactions above 60,000 rubles, requiring exchanges and banks to report detailed personal data on both parties. The move brings a functioning parallel payments infrastructure—with daily volumes exceeding $600 million—under state surveillance for the first time.