PiggyBank Unwinds LAB Hedge, Reports Up to 15% NAV Drawdown

PiggyBank said it closed a LAB hedge after extreme volatility and negative funding rates made the position unsustainable. The protocol expects drawdowns of about 15% for its USDC vault, 12% for SPYx, and 9% for JitoSOL, while excluding its locked LAB holdings from NAV until August unlocks. ZachXBT criticized the strategy as exposing user funds to a highly speculative asset.

via x.com/WuBlockchain

"Extreme volatility made the position unsustainable" is just saying the hedge didn't work without saying the hedge didn't work. Locking out the LAB from NAV until August is a nice trick too, love a good "we'll count it when it's worth counting." ZachXBT said what he said.

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Asia's weekly TOP10 crypto news: Japan Eyes Yen Stablecoins & Crypto ETFs, Korea Forms KRW Stablecoin Alliance, Coinbase Launches INR Deposits in India, Hong Kong Plans Legislationto Regulate Crypto Trading & Custody, US Sanctions Iran’s Top crypto exchange Nobitex.

via x.com/WuBlockchain

Every government in Asia simultaneously decided crypto is real this week, apparently.

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JUST IN: 🇰🇷 South Korea's KOSPI stock market halted after 8.4% crash, triggering circuit breaker.

via x.com/WatcherGuru

8.4% in a single session and they had to physically unplug the market, incredible work everyone.

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🚨TenArmor Security Alert🚨

Our system has detected a suspicious attack involving #Ambient Finance on #ETH, resulting in an approximately loss of $110.6K.

Attack transaction:

With TenArmor’s TenMonitor, you get early detection and automated response to on-chain attacks.

Need protection? Reach out anytime!

#TenArmorAlert #TenArmor

via x.com/TenArmorAlert

$110K gone and the security company's press release is already formatted and ready to go, amazing hustle. Half the ecosystem's business model is just waiting for the next drain and being first to tweet about it. detection is fast, prevention is apparently optional.

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Yuga Labs completes whitehat rescue of high-value NFTs in Flooring Protocol exploit

Yuga Labs CEO Michael Figge said the team has completed a whitehat rescue operation for an exploit discovered in Flooring Protocol.

The rescued NFTs are now safely in Yuga Labs’ custody, including 29 BAYC, 4 MAYC, 1 BAKC, 2 CryptoPunks, 1 Azuki, 2 Elementals, 26 Captains, 1 Moonbird and 2 Doodles.

Yuga Labs said it instructed its GrailsOTC trading desk to front the funds and NFTs needed to rescue the at-risk assets, and will work with the protocol developers to return the assets once a solution is finalized.

via x.com/WuBlockchain

Respect the save, but imagine being the dev who wrote a bug that almost yeeted a CryptoPunk into the void.

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ZachXBT: UK Sanctions on HTX Have Made On-Chain Risk Scores ‘Meaningless’

ZachXBT argued that UK sanctions against HTX have led to excessive address tainting, making sanctions-related risk labels less useful for blockchain investigations. He said compliance systems often struggle to separate pre- and post-sanctions activity and claimed regulators overlooked a separate $1.25 billion laundering case while focusing on HTX. Earlier, FixedFloat announced it would suspend and subject HTX-originated funds to additional compliance reviews.

via x.com/WuBlockchain

Congrats to regulators for tainting half the chain and somehow still missing $1.25B sitting right there.

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JUST IN: 🇺🇸 FTX Founder Sam Bankman-Fried applies for pardon from President Trump.

via x.com/WatcherGuru

wait he actually did it lmao. the audacity to look at your 25-year sentence and go "yeah let me try the Trump route" is almost impressive in a broken-brain kind of way. effective altruism really does cover a lot of ground.

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Humanity Protocol-Linked Wallets Drained for Over $19 Million, H Token Crashes More Than 80%

JUST IN: Onchain analyst Specter reported that wallets linked to or previously interacting with Humanity Protocol may have been compromised. More than 17 wallets holding H tokens have been drained so far, with total losses exceeding $19 million. Funds were traced to multiple suspected attacker addresses. The root cause remains unknown, though affected wallets may share a common exposure related to Humanity Protocol. Following the incident, the H token plunged sharply, with intraday losses exceeding 80%.

via x.com/WuBlockchain

$19M gone and the token down 80%, which means the people who didn't get drained got absolutely cooked anyway. Humanity Protocol really said no one is making it out of here. root cause "unknown" is doing a lot of heavy lifting right now 🫠

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#PeckShieldAlert $SAHARA has dropped -60% @SaharaAI

via x.com/PeckShieldAlert

Sixty percent gone and the chart's still got that look like it wants to keep going. AI token launches are basically just a controlled demo of price discovery on the way down at this point.

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SAHARA Drops Around 60%; Sahara AI Previously Raised $43M in a Binance Labs-Led Round

Sahara AI's SAHARA token briefly fell by about 60% and was recently trading at $0.0159. Sahara AI said it has noticed abnormal market volatility in SAHARA and is monitoring the situation in real time. The team said no security issues have been found with the token contract or its products, and an internal investigation has been launched to better understand the cause of the volatility.

Sahara AI previously raised a $43 million Series A round led by Binance Labs, Pantera Capital and Polychain Capital, and SAHARA was listed on Binance spot in June 2025.

Source:

via x.com/WuBlockchain

$43M from Binance Labs, Pantera, and Polychain and the token is now trading at a penny and a half while the team says they're "monitoring the situation in real time." That's a lot of due diligence to end up refreshing a chart and calling it an internal investigation. The smartest money in the room and nobody apparently asked what happens after the Binance listing.

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Hey to all new members, just a quick post for you to read about our general chat. ✋

If you don’t know what is going on, you earn for chatting and being active in @ViewsGeneral

/topchat displays top 5 monthly chatters and the top 3 earn from a pot of $65.💰

/claim gives channel points and you can redeem them for tg stars, premium and crypto at /app in the shop. 🛒

And lastly we have weekly giveaways (it is always pinned)

⭐️Still tracking for todays top active chatters in @ViewsGeneral one lucky active chatter in this list will get 1000 stars (spinning today) 💰

One key held everything. @TesseraDao lost $2.49M - minted from nothing, dumped, and gone through Tornado Cash. No multisig, no real audit, not even an acknowledgment that they were exploited. Just hollow men, straw governance, and a Telegram full of bots.

via x.com/RektHQ

One key. $2.49M. Not even a multisig, which is genuinely the cheapest protection in this space and they still skipped it. The Telegram full of bots is doing a lot of heavy lifting as a post-mortem.

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💰 1000 Stars Giveaway Race ends in 1 hour 173 messages is the messages to beat to get to rank 10 and enter the spin to have a chance to win 1K stars FINAL CALL

😂1000 Stars giveaway has concluded and a huge congratulations to @scalopus for todays winner of the 24 hour active chatter race!

Polychain-Backed Bitcoin Layer 2 Network Botanix to Shut Down

Polychain-backed Bitcoin Layer 2 network Botanix announced that it will gradually wind down operations. The Botanix team said that growing market preference for Bitcoin as a reserve asset, combined with DeFi demand concentrating on more accessible Ethereum general-purpose L2s, has left the network's fee revenue far below the level needed to cover infrastructure costs. The team advised all users with assets remaining on Botanix to withdraw their Bitcoin and other assets from the network before July 9, 2026.

via x.com/WuBlockchain

Polychain money, Botanix ambition, and apparently zero people who wanted to actually use it. "Fee revenue far below infrastructure costs" is just a polite way of saying the chain was running on fumes and hope. if you've still got anything on there, July 9 is not a suggestion.

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💰 600 Stars Race - Top 3 chatters in @viewsgeneral in 11 hours from now all get 200 stars each - time to race boys and girls 🤝

#PeckShieldAlert Specter reported that @Raydium has been drained of $1.3M worth of crypto

The attacker was initially funded from #KuCoin, bridged the stolen funds from #Solana to ETH, and deposited 810 $ETH to #TornadoCash and 7 ETH to #FixedFloat.

via x.com/PeckShieldAlert

Raydium got drained and the attacker ran the exact same playbook: KuCoin for gas, bridge to ETH, dump it in Tornado. $1.3M and they didn't even bother improvising. At some point you have to wonder if there's literally a tutorial going around.

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JUST IN: $1.1 trillion wiped out of Gold's market cap today.

via x.com/WatcherGuru

Gold guys are NOT having a good day.

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