Today's Top Crypto Headlines:

Trump Endorses Bitcoin | Fake IT Drains $1M | Across DAO Misuse and more...

King Fatrick Gil Añasco
June 30, 2025

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

Trump Endorses Bitcoin Potential: President Trump praised Bitcoin’s capped supply and potential to ease global demand for USD.
Fake IT Hacks Steal $1M: Hackers impersonated IT staff to breach Web3 projects like Replicandy and Favrr, stealing $1M via NFT mint exploits. Some funds remain idle, others were laundered through obfuscation tools.
💡Feature of the Day - Across DAO Faces Misuse Claims: Anonymous sleuth “Ogle” accused Across Protocol of misusing DAO governance to divert $23M to Risk Labs.

All this and more in today’s headlines!

📰 News Highlights:

Trump Praises Bitcoin [Source][Source][Source]

President Donald Trump praised Bitcoin during a White House press conference, highlighting its potential to reduce pressure on the US dollar.

He noted the growing acceptance of Bitcoin for payments and the job opportunities created by the crypto industry.

Trump recently said that Bitcoin eases pressure on the dollar.
I think this is a much more significant statement than what it seems at first glance.
To me it signals that he understands the issue of the ”Triffin dilemma” which applies to any currency that holds the title of
— Anders 🏁🌏 (@X__Anderson)
9:28 AM • Jun 28, 2025

Trump previously suggested paying off national debt with Bitcoin, emphasizing the asset’s capped supply versus the inflationary nature of fiat.

Current U.S. National Debt: $37T
Current Bitcoin Market Cap: $2T
Debt Covered If U.S. Owned ALL Bitcoin: ~5%
🚫 Even with 10x growth and the US owned all 21M Bitcoin, it wouldn’t be enough to reduce the debt.l by half.
Lummis’ BITCOIN Act is fantasy.
— Justin Bechler (@1914ad)
3:22 PM • Jun 16, 2025

Critics argue that even full government ownership of all existing Bitcoin wouldn’t be enough to pay off the US’s $37 trillion debt.

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Fake IT Drains $1M [Source]

Hackers impersonating IT staff have stolen $1 million in crypto by infiltrating Web3 projects, according to cybersecurity researcher ZackXBT.

1/ Multiple projects tied to Pepe creator Matt Furie & ChainSaw as well as another project Favrr were exploited in the past week which resulted in ~$1M stolen
My analysis links both attacks to the same cluster of DPRK IT workers who were likely accidentally hired as developers.
— ZachXBT (@zachxbt)
2:02 PM • Jun 27, 2025

Victims include NFT projects Replicandy and ChainSaw, and token platform Favrr.

2/ On Jun 18, 2025 at 4:25 am UTC ownership for ‘Replicandy’ from Matt Furie & ChainSaw was transferred to a new EOA 0x9Fca.
Jun 18, 2025
6:20 pm UTC: 0x9Fca withdrew mint proceeds from the contract
Jun 19, 2025
5:11 am UTC: 0x9Fca unpauses the mint
The attacker then minted
— ZachXBT (@zachxbt)
2:02 PM • Jun 27, 2025

The attackers exploited the NFT minting mechanisms, crashing floor prices while extracting profits and transferring stolen funds across wallets and exchanges.

3/ On Jun 23, 2025 the attacker transferred ownership from the ChainSaw deployer to 0x9Fca for Peplicator, Hedz, Zogz.
Similarly the attacker minted NFTs and sold them into bids causing the floor price to fall to zero.
0x9Fca3AC75cd66f3c62bea8231886513b9fe191BD
— ZachXBT (@zachxbt)
2:03 PM • Jun 27, 2025

Some funds remain dormant, while others have moved through obfuscation tools, according to ZackXBT’s analysis.

4/ In total I estimate $310K+ from their projects was stolen and transferred primarily between the three address below.
0xf6a9349c54d51f7f76bbd2afd755b5dd75e617ee
0x7e580f916a8e93871b72a694407fb7d790de96a6
0x58f4299465b261e79713e5c78a7629cd656aed36
— ZachXBT (@zachxbt)
2:03 PM • Jun 27, 2025

💡 Feature of the Day:

Across DAO Misuse [Source][Source][Source][Source][Source][Source]

Across Protocol is under fire after allegations that its founders manipulated DAO governance to divert $23 million worth of tokens to their for-profit firm, Risk Labs.

TLDR: Across Protocol/Bridge ($ACX) team used secret votes to extract ~$23m from the Across DAO’s treasury for their own private company's benefit.
Background: I’ve many times posted about DAOs that are DAOs “in name only” - that is, organizations that pretend to be run by “the
— ogle | glue.net (@cryptogle)
11:37 PM • Jun 26, 2025

An anonymous onchain sleuth, Ogle, claims the DAO’s democratic process was a facade, with team-linked wallets secretly voting to approve funding.

x.com/i/article/1938…
— Hart Lambur (⛺️,⛺️) (@hal2001)
6:09 AM • Jun 27, 2025

Risk Labs’ founder Hart Lambur denies wrongdoing, arguing the company is a nonprofit foundation based in the Cayman Islands with transparent governance.

I am the founder of Across. The allegations in here are categorically untrue and I will vigorously defend our protocol and our team.
In no way has the Across team "extracted" value from the DAO. That is so insane it's hard to even respond to.
I've been building in this space
— Hart Lambur (⛺️,⛺️) (@hal2001)
12:58 AM • Jun 27, 2025

However, blockchain data suggests some of the largest voting wallets were initially funded by Lambur, raising questions of conflict of interest.

I tried to get replies to this stuff for quite a long time from you, and in fact left off a very suspicious second half of this report, as you know, in good faith. Probably best to chill with the "troll" and "lies" commentary and stick to facts.
— ogle | glue.net (@cryptogle)
1:08 AM • Jun 27, 2025

Critics say there were no formal agreements ensuring funds would be used for Across development.

Sir, we'll leave it to crypto twitter to decide if we appropriately responded to your completely false allegations.
We'll write it all up and share for the public to see. We have absolutely nothing to hide: that's why I use my legal name on the Internet, not some anon handle.
— Hart Lambur (⛺️,⛺️) (@hal2001)
1:11 AM • Jun 27, 2025

Lambur insists team members legally acquired tokens and had the right to vote.

Using one's legal name is completely irrelevant and should get no credit for credibility. SBF used his real name, so did Mashinsky, so did loads of other folks. It's a weird flex that people often use but it doesn't really carry weight.
That said, I do look forward to your
— ogle | glue.net (@cryptogle)
1:19 AM • Jun 27, 2025

😂 Crypto Meme of the Day:

Meme of the day provided by @upay

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com