How An Attacker Stole $20M From BonkDAO Using Its Own Rules | CoinDesk Daily

**Uyen Truong** (0:00)
An attacker drained $20 million from BONKDAO using its own governance rules. And is Bitcoin's July rally already losing steam? This is Coin Desk Daily.

**SPEAKER_2** (0:13)
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**Uyen Truong** (0:20)
An attacker drained $20 million from the BONKDAO Treasury without breaking a single rule.
By spending $4.4 million to buy just over 1% of BONK supply, the attacker met the quorum, needed to pass a governance proposal that sent the group's holdings to a wallet they controlled, then began selling. No smart contract was exploited, no private key was compromised, every step was a valid transaction. BONK is down 7% since the attack. Tara Wolf, a Bitcoin miner turned AI landlord, signed a 20-year lease with Anthropic for a Kentucky data center. The deal covers 401 megawatts of computing capacity and is expected to generate $19 billion in contracted revenue.
More than Tara Wolf's entire $12 billion market cap. The stock surged as much as 19% on the news.

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**Uyen Truong** (1:12)
And Bitcoin's six-day winning streak came to an end and the data behind the rally raises some questions. The Coinbase premium, which tracks the difference between Bitcoin's price on Coinbase versus Binance, has been negative for 50 straight days. That means BTC has been cheaper on the US exchange for close to two months, a signal of weak domestic demand.
Spot ETFs extended the concern, posting eight straight weeks of net outflows. Get more updates on coindesk.com.

**SPEAKER_2** (1:39)
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