BitBox patches ‘severe’ wallet flaws that could put funds at risk
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Bloomberg: Quantum computing puts approximately 34% of the existing Bitcoin supply at risk of being hacked.
PANews reported on July 7th, citing Bloomberg, that quantum computing is considered a new threat that could potentially crack the cryptographic algorithms of crypto assets such as Bitcoin. Quantum computers are expected to far surpass traditional computers in decrypting complex mathematical problems, and theoretically, could deduce private keys from public keys, thereby stealing on-chain assets. Wallets with early address formats and those that reuse addresses are at the highest risk. Galaxy Digital estimates that approximately 34% of circulating Bitcoin, worth about $470 billion, may become targets for future quantum attacks. Coinbase has established an advisory committee, and Strategy, where Michael Saylor works, has also launched a related risk project.
The escalating conflict between Russia and Ukraine has drawn attention from risk markets, with Trump speaking separately with Putin and Zelensky.
According to BlockBeats, on July 6th, CNBC reported several significant developments in the Russia-Ukraine situation over the past 72 hours. US President Trump spoke separately with Russian President Putin and Ukrainian President Zelensky. Following the Ukrainian drone attack on Russian oil depots and port facilities in St. Petersburg, Russia launched its second large-scale airstrike on Kyiv within a week, prompting renewed market focus on geopolitical, energy security, and European defense risks. Zelensky stated that he had discussed the situation on the front lines with Trump and agreed to continue consultations at the upcoming NATO summit, saying, "There is a real chance to end this war, and America's resolve is crucial." The Kremlin stated that Trump and Putin spoke for approximately 90 minutes, discussing ending the Russia-Ukraine conflict and the prospects for future US-Russia cooperation. Kremlin aide Ushakov stated that the call was "pragmatic and constructive," with Trump emphasizing the need to end the conflict as soon as possible to unlock the potential for cooperation between the two countries. Meanwhile, Ukraine has recently intensified its attacks on Russian energy facilities and military targets. According to Ukraine, it attacked a large oil terminal in St. Petersburg and the Kronstadt naval base, home to the Russian Baltic Fleet, causing fires at the facilities. In response, Russia launched a large-scale missile and drone attack on Kyiv early Monday morning, killing at least 11 people and severely damaging several residential buildings. The Institute for War Studies (ISW), a US think tank, believes that Russia is attempting to convey to the West a narrative that it still maintains the initiative on the battlefield, while the Trump administration has recently been more publicly mentioning Ukraine's progress in long-range strikes against Russian military and energy facilities, indicating that the public relations battle between the two sides over the battlefield situation continues.
Warning: A wallet generation vulnerability known as "Ill Bloom" leaves thousands of accounts at risk.
PANews reported on July 6th that, according to Coinspect Security, a wallet generation vulnerability called "Ill Bloom" is being exploited by attackers, allowing them to control affected wallets and steal funds. This vulnerability has affected wallets on multiple blockchains since 2018, and the affected wallets were still being generated weeks ago, indicating it did not originate from a single software wallet. Coinspect stated that hundreds of accounts had already lost approximately $3 million on May 27th, and another $2 million has been transferred from exposed wallets in the last few hours. Thousands of accounts remain at risk, covering Bitcoin, Ethereum and L2, Tron, and Solana. Coinspect has released an affected address checking tool and is urging wallet providers to integrate lightweight weak seed phrase detection functionality.
Security firm Coinspect reports that a wallet vulnerability dating back to 2018 resulted in the theft of $3.14 million last month, with Chinese users' assets at higher risk.
PANews reported on July 5th that security firm Coinspect Security published an article on the X platform stating that through analysis of crypto wallet seeds generated using insecure code since 2018, they discovered thousands of seeds that had been actually used. Last month alone, they found that these wallets had a total of $3.14 million stolen, most of which went unreported. Some funds were concentrated in a single address, exhibiting money laundering patterns. One affected address transferred $2 million out just hours after the alert was issued; it is unclear whether this was for theft. Coinspect warned that users who believe many of their assets remain at risk may be located in China.
Analysis: The AI computing power market is undergoing a shift, with funds flowing from memory chips to cloud providers.
PANews reported on July 5th that Garrett Jin, an agent for "1011 Insider Whale," analyzed that the market structure has changed significantly this week. Funds within the AI industry chain are being redistributed, and signs of a temporary peak in the memory chip market are emerging. Micron's stock price encountered resistance and fell back around $1250. Despite stronger-than-expected earnings, the stock price continued to decline with increasing volume, exhibiting typical top characteristics of "weakening after good news is priced in." SK Hynix and Samsung Electronics in the South Korean market also weakened. Data shows that foreign capital has withdrawn more than 100 trillion won (approximately $65 billion) from the South Korean stock market in the past two months. The real destination of funds is not small and mid-cap AI concept stocks, but core cloud computing giants such as Google, Microsoft, and Amazon.
Tether CEO warns AI giants' computing power subsidy model: Multiple cycles of mismatch continue to accumulate industry risks.
On July 4th, PANews reported that Tether CEO Paolo Ardoino published an article on the X platform, questioning the current expansion model of AI giants subsidizing computing power in exchange for user scale. He stated that leading global AI technology companies are continuously increasing their investment in computing infrastructure to seize market share, resulting in huge capital expenditures. However, the economic depreciation cycle of computing assets such as GPUs and servers is only 3 to 5 years, and the hardware depreciates extremely quickly. This creates structural mismatch risks: token prices are decoupled from the real value of assets, the profit realization cycle lags behind the capital investment cycle, and the cost of capital does not match the debt repayment period. At the same time, open-source AI models continue to divert market demand and compress commercial revenue space.