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Today's Top Crypto Headlines:
CZ Proposes Privacy DEX | BitoPro Confirms Exploit | Moonbirds IP Sold Again and more...
King Fatrick Gil Añasco
June 03, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
CZ Proposes Privacy DEX: Binance co-founder CZ has suggested a “dark pool” DEX to protect large traders from front-running and MEV attacks.
BitoPro Loses $11.5M in Hack: Taiwan’s BitoPro confirmed a breach that led to $11.5M in losses across multiple chains.
💡Feature of the Day - Moonbirds IP Sold Again: Yuga Labs sold the IP rights to Moonbirds, Mythics, and Oddities to crypto gaming firm Orange Cap Games.
All this and more in today’s headlines!
📰 News Highlights:
Binance co-founder Changpeng “CZ” Zhao has proposed the creation of a “dark pool” perpetual decentralized exchange (DEX) to protect large crypto traders from front-running and MEV attacks.
Given recent events, I think now might be a good time for someone to launch a dark pool perp DEX.
I have always been puzzled with the fact that everyone can see your orders in real-time on a DEX. The problem is worse on a perp DEX where there are liquidations.
Even with a CEX
— CZ 🔶 BNB (@cz_binance)
6:38 PM • Jun 1, 2025
These private trading venues would conceal large order details until after execution, minimizing slippage and manipulation risks.
agreed. I opened a 13.27 dollar long the other day and immediately the whales saw my order on the DEX, dumped and liquidated me. I demand a refund.
— doncrypto (@DonCryptoDraper)
6:40 PM • Jun 1, 2025
Implementing a dark pool DEX, however, would require advanced solutions like ZK-proofs or delayed settlement systems for both privacy and verifiability.
You mean to say potentially develop an L2 and use ZK roll off on top of that dark pool to finalise the transactions ?
— Crypto 🔶 ₿N (@Crypto_bn)
6:42 PM • Jun 1, 2025
🎁Freebie:
Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!
Taiwan-based crypto exchange BitoPro has confirmed a security breach resulting in $11.5 million in digital asset losses across hot wallets on Ethereum, Tron, Solana, and Polygon.
Do you want to explain to the community why multiple of your hot wallets saw suspicious outflows of ~$11.5M on May 8, 2025 where you still have not disclosed the security incident on X or Telegram several weeks later?
— ZachXBT (@zachxbt)
5:57 AM • Jun 2, 2025
Despite the exploit, BitoPro assured that user withdrawals and trading were unaffected. Onchain analyst ZachXBT reported that the stolen funds were funneled through Tornado Cash and THORChain, suggesting deliberate attempts to anonymize them.
🚨ALERT🚨Our system has detected multiple suspicious transactions involving @NervosNetwork.
A suspicious address appears to have taken control over the bridge, stealing ~$3M in assets:
257.8K $USDT
539.09 $ETH
898.3K $USDC
60.4K $DAI
0.79 $WBTC
All funds were swapped to $ETH and— 🚨 Cyvers Alerts 🚨 (@CyversAlerts)
6:42 AM • Jun 2, 2025
Notably, BitoPro delayed public disclosure for several weeks, prompting community scrutiny and complaints over withheld transparency.
💡 Feature of the Day:
Yuga Labs has sold the intellectual property of Moonbirds, Mythics, and Oddities NFT collections to crypto gaming startup Orange Cap Games (OCG).
x.com/i/article/1928…
— Orange Cap Games (@Ocapgames)
5:00 PM • May 30, 2025
The move comes just over a year after Yuga acquired these assets through its purchase of PROOF in early 2023.
Moonbirds has been acquired by @Ocapgames
Spencer and the team at Orange Cap Games are among the smartest, most detail-oriented builders in consumer crypto.
They put love, genuine craft, and a fair bit of neurotic perfectionism in everything they touch (ask @spencer to tell you
— Garga.eth (Greg Solano) (@CryptoGarga)
5:05 PM • May 30, 2025
OCG will now oversee these collections while maintaining their integration with Yuga’s Otherside metaverse and ApeChain.
Orange Cap Games has acquired @moonbirds, Mythics, & Oddities.
Real the full announcement 👇
— Orange Cap Games (@Ocapgames)
5:01 PM • May 30, 2025
😂 Crypto Meme of the Day:
Meme of the day provided by @GainsAssociates
And that’s it for this today.
See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com