Bitcoin rebounds to surpass $60,000, with its 24-hour decline narrowing to 1.31%

Prediction market platform Polymarket disclosed on Thursday that a third-party vendor of its was hacked, with attackers injecting malicious code into the platform’s frontend to steal roughly $3 million in Polymarket’s proprietary stablecoin pUSD from fewer than 15 user accounts. The funds were later converted to ETH and aggregated into a single Ethereum wallet, and as of press time, the assets have not been moved. Polymarket noted that the frontend vulnerability has been identified and patched, with affected users to receive full compensation, though the platform declined to name the specific compromised vendor. This marks Polymarket’s second security incident in two months. Last month, hackers exploited a private key leak to breach an internal wallet used for user deposits and reward distributions, leading to approximately $700,000 in losses. Both incidents were peripheral breaches that did not impact the core protocol, but the consecutive security lapses underscore the potential risks stemming from the platform’s reliance on third-party vendors. Polymarket had recently faced controversy over a Wall Street Journal investigation that alleged it illegally marketed to U.S. users through simulated trades and fake profit videos; the latest security incident has added further pressure on the platform.

Blockchain security researcher Sergey Shemyakov issued a warning on June 25 that Tornado Cash DAO had a highly suspicious governance proposal approximately 8 hours prior, calling on the community to conduct an independent review. The proposal shows multiple red flags: First, its contract code is unverified, a rarity in Tornado Cash DAO’s historical proposals, which the researcher views as a clear sign of a malicious proposal. Second, the address that created the proposal received funds four days ago via privacy protocol Railgun, with obfuscated sources, making the behavior highly suspicious. Third, the proposal’s description appears misleadingly packaged, but its core lies in its target contract: once the proposal passes and is executed, the governance contract will call the target contract’s function via delegatecall, allowing attackers to gain extremely high privileges. The researcher noted that Tornado Cash’s mixing pools themselves remain secure, but if the proposal is approved, it would very likely constitute a direct attack on the Tornado Cash DAO itself. The DAO’s current treasury holds TORN tokens worth approximately $23 million, putting those funds at risk. In 2022, Tornado Cash DAO suffered a similar attack, where attackers successfully seized control of the protocol through a malicious governance proposal. The researcher is urging all TORN token holders to exercise extreme caution before voting on the proposal.

Last July, the U.S. government unveiled a copper tariff plan. Previously, it imposed a 50% tariff on semi-finished copper products, while refined copper was temporarily exempted, but the plan aims to phase in additional tariffs on refined copper starting in 2027. Whether the plan will take effect will be decided by the end of June. The U.S. Department of Commerce is required to submit its investigation report on Section 232 tariffs before June 30, and will make a final decision based on the findings. As the deadline for the U.S. Section 232 tariff report approaches on June 30, the global market for metals linked to AI computing power will face a new round of volatility. International investment banks including Goldman Sachs analyze that if the U.S. implements the new copper tariff policy, U.S. buyers may launch large-scale stockpiling. Currently, U.S. COMEX copper inventories have exceeded 650,000 tons, hitting a record high. Meanwhile, in the international market, supply tensions for small metals closely tied to the AI computing power industry chain—such as tungsten, tin, tantalum, and indium—are likely to further intensify. (Jinshi)

With crypto-related stocks declining broadly on Thursday, Cathie Wood’s investment firm ARK Invest once again added to its positions at discounted levels, boosting its holdings in stocks of Coinbase, Circle, Bullish, and Robinhood.

Crypto KOL Ansem has published a bullish view on the SOL/ETH trading pair. Earlier today, Ansem stated: "Solana has hit its bottom — I was the first to call it! Right now, everyone is extremely bearish on SOL, just like when it fell to $8 in 2023. I believe buying SOL at current prices with a holding period of over six months is a solid trade."

Crypto asset custody firm BitGo CEO Mike Belshe announced in a post today that the company will lay off approximately 15% of its staff. He characterized the layoffs as a one-time adjustment, emphasizing that no further cuts are expected. Belshe stated that the decision stems from profound evolutions in the crypto ecosystem and fundamental shifts in how financial services are structured. To remain competitive, BitGo needs to focus its resources on the most critical areas, including security, trading, stablecoins, settlement, and AI-powered infrastructure. BitGo is one of the world’s largest institutional digital asset custody providers, offering custody, trading, and wallet infrastructure services primarily to institutional clients. Affected employees have been notified directly by their direct managers and human resources departments.