Six-Bug Exploit Halts Maya Protocol After $1.4 Million in Bitcoin Stolen
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MAYAChain halts network after estimated $1.7M exploit
A preliminary analysis says six chained bugs let a 23-message transaction drain 48.87 million CACAO, sending the token down nearly 89%.
Nasdaq-listed Empire Digital increased its holdings of Bitcoin by 1,200 coins in six days, worth approximately $72.65 million.
PANews reported on July 7th that, according to Onchain Lens monitoring, Nasdaq-listed Empire Digital has added another 200 bitcoins (worth $12.84 million). In the past six days, the company has accumulated 1200 BTC (worth $72.65 million).
StarkWare CEO proposes a 4% annual inflation rate for Bitcoin instead of the 21 million coin cap.
PANews reported on July 8th that, according to Cointelegraph, StarkWare CEO Eli Ben-Sasson posted on the X platform proposing to replace the current hard cap of 21 million Bitcoins with a 4% annual issuance rate. He believes the current hard cap is "unreasonable" because private keys will be lost over time, "and when time approaches infinity, all private keys will be lost." Ledger estimates that approximately 4 million Bitcoins have already been permanently lost. Ben-Sasson stated that a 4% annual issuance rate roughly matches the global population growth rate. This proposal has sparked strong opposition from the community. Opponents argue that the fixed cap is the core value of Bitcoin, and that Bitcoin can be divided into 2.1 quadrillion satoshis, which is sufficient to address the issue of declining available supply.
A whale short$31 million worth of Bitcoin at 40x leverage and is currently seeing a floating profit of $112,400.
According to Mars Finance, on July 8th, Onchain Lens monitoring revealed that the whale address "0x77ee" recently opened a 40x leveraged short position of 493 Bitcoins (approximately $31.08 million) on Hyperliquid. The opening price was $63,240.9, and the liquidation price was $73,962.2. Currently, this position has a floating profit of approximately $112,400, with a return on equity (ROE) of 14.47%. Data shows that this address currently holds 15 positions with a total open interest of approximately $79.79 million, of which 92% are short positions. However, the address's historical cumulative trading losses still amount to $5.66 million.
Polymarket launches Bitcoin Lightning Network instant deposits and integrates the Spark protocol.
BlockBeats reported on July 8th that prediction market platform Polymarket announced support for instant, self-custodied deposits via the Bitcoin Lightning Network, powered by the Spark protocol. Compared to the previous on-chain deposit method, which required 3 to 6 block confirmations and took approximately 10 to 60 minutes, the new solution achieves near-instantaneous deposits, lowering the deposit threshold and transaction costs. According to reports, Spark performs checks for double-spending risk, fees, and Replace-by-Fee (RBF) during transaction broadcasting, achieving "zero-confirmation" deposits. It also supports on-chain, Lightning Network, and stablecoin payment channels, eliminating the need for the platform to operate its own Lightning Network nodes. Polymarket stated that this move will further improve the efficiency of Bitcoin users' fund utilization and enhance its competitiveness against rival Kalshi.
VanEck executive: Strategy's $135 million Bitcoin sale last week did not use up its BTC Monetization Program quota.
According to ChainCatcher, Matthew Sigel, Head of Digital Asset Research at VanEck, stated on the X platform that, based on Strategy's latest 8-K filing, Strategy's $135 million Bitcoin sale last week did not utilize the $1.25 billion BTC Monetization Program quota. This is because the program only restricts sales used to replenish cash reserves; sales directly used to pay dividends are not included in this limit. Sigel points out that this means Strategy's actual Bitcoin sales capacity exceeds the commonly understood $1.25 billion.