Governance attack costs BonkDAO US$20 million, Ethereum Foundation reorganizes, BNB builds AI Layer-

Governance failures, structural reorganization and infrastructure layout

Within a week, governance loopholes, organizational structure adjustments and infrastructure layout have jointly reshaped the discussion pattern of key ecosystems. A malicious governance proposal reportedly stole approximately $20 million from BonkDAO treasury; the Ethereum Foundation dissolved its protocol support team; and BNB Chain officially announced an independent AI-specific Layer-1 plan. These events all point to a market in flux-where DAO security, core protocol coordination, and the infrastructure needed for on-chain AI are simultaneously being tested.

BonkDAO governance breach

A governance proposal that went undetected for six days stole approximately $20 million worth of BONK tokens from the treasury. Only seven addresses participated in the voting, and according to Gu Xin, founder of Slowfog Technology, the wallet associated with the attacker controlled 99.878% of the voting weight. PeckShield's monitoring confirmed the funds were withdrawn and traced approximately $148,000 in BONK to an OKX recharge address. BONK prices fell 9% during the day. BonkDAO responded quickly, saying that investigators had targeted the exchange accounts used to buy BONK before the proposal, and that the team was coordinating with the exchange, Cross-Chain Bridge and the Solana Foundation, and had notified law enforcement. The incident highlights that low-participation governance voting-especially when large amounts of treasury assets are involved-remains a structural weakness that has not yet been addressed in many DAOs. The rapid transfer of funds through centralized channels also exposes the tension between transparency on the chain and accountability offline after an incident occurs.

Internal reorganization of the Ethereum Foundation

While the BonkDAO incident was brewing, a reorganization within the Ethereum Foundation quietly removed the coordination layer that had been supporting protocol development. As part of the overall organizational restructuring, the protocol support team was disbanded-the team responsible for organizing core developer meetings, tracking upgrade progress, promoting EIP (Ethereum Improvement Proposal) and running the Ethereum protocol scholarship project. The news was posted through the team's own X account and did not mention any alternative structure. This move raises practical questions: Who will coordinate the smooth progress of the Ethereum multi-client upgrade process? Among the top ten blockchains with developer activity this week, Ethereum still ranks first. At this time, any move that weakens the social support system for core development is worthy of attention. Some community members see the reorganization as a push for greater decentralization; others see it as a cost-cutting move that may slow down subsequent upgrades.

BNB Chain's AI Native Layer-1

At the same time, BNB Chain unveiled its new Layer-1 blockchain plan specifically built for AI proxy transactions. The test network is expected to be launched before the end of 2026, and the main network deployment target is set for early 2027. The network will operate in parallel with the existing BNB Chain, promising to provide transaction pre-confirmations of less than 50 milliseconds, 100,000 transactions per second (TPS), and final certainty in one second-execution capabilities that are often linked to centralized exchanges, but with on-chain autonomy and transparency. The design eliminates the public transaction pool to prevent run-ins and sandwich attacks, a feature that directly solves the friction AI agents face when executing high-frequency strategies on the chain. David Z, chief technology officer of BNB Chain, described the new chain as an infrastructure designed for transaction speed without sacrificing verifiability. The team also revealed that it is studying anti-quantum security technology, indicating that the chain's roadmap has taken into account long-term cryptographic risks. With growing interest in deploying AI agents on the chain-from scalable AI-driven Web3 applications to autonomous trading robots-a dedicated execution layer may appeal to the liquidity that currently remains in a centralized place.

Policy changes, bridge relocation and cost switching

This week also marks a regulatory milestone and multiple agreement-level actions. Polymarket, through its affiliate, Coming Home GBA LLC, applied for a futures commission license from the National Futures Association, seeking approval from the U.S. Commodity Futures Trading Commission (CFTC) to provide non-fully collateralized forecast market trading. The application demonstrates Polymarket's intention to attract more mature capital under a formal regulatory framework-a move that could change people's perceptions of on-chain forecasting markets, shifting from gray area novelties to licensed financial infrastructure. The advancement comes during a turbulent legislative period in the U.S. crypto sector, where the line between regulation and unlicensed activity is being redrawn. In the DeFi space, Uniswap Labs proposes to extend its Unification destruction mechanism to v4 liquidity pools, requesting UNI holders to approve charging agreement fees on selected pools, and using part of the revenue for UNI repurchase and destruction. Snapshot voting will be held from July 7 to 12, and on-chain voting will be held the following week. Although community sentiment appears to support the proposal, some liquidity providers are concerned that fees could push liquidity elsewhere. At the same time, Mantle completed the migration from LayerZero's OFT standard to Chainlink CCIP's CCT standard. Since May, more than $7.2 billion in cross-chain and encapsulated assets have been migrated from LayerZero. The wave of migration triggered by the Kelp Bridge attack earlier this year highlights how security awareness can quickly reshape cross-chain infrastructure.