Mainstreet msUSD Depegged by 80%, Ventuals Shutting Down, and many more...
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Issuesâ ď¸
MainStreet Financeâs msUSD depegged 85% after Accountable terminated its proof-of-reserves verification agreement, pushing the Morpho msY/USDC market to 100% utilization. MainStreet says its assets remain fully backed and that it has deployed $8M in USDC to support liquidity while seeking a new verification provider.
Critics are calling out AlphaPingâs curation practices after its Alpha USDC Delta V2 vault allocated $17.86M USDC almost entirely into Morphoâs msY/USDC market, which is now exposed to MainStreetâs MSUSD depeg.
AlphaPing maintains that its vaults are fully isolated with no cross-exposure, and is working with MainStreet to assess liquidity timing on the affected positions.
Altura is winding down its vault after processing over 8.5M USDT in withdrawals in 24 hours, unwinding positions across exchanges, private credit, and RWA strategies to return capita
Only ~$200K remains in the instant withdrawal pool, and over half of reported reserves were never independently verified at the asset level â raising questions about whether remaining redemptions can be honored as liquidity dries up.
Taiko confirmed a compromise of its chain state verification mechanism, meaning bridge security assumptions across the chain can no longer be trusted. Users are urged to withdraw funds from all Taiko bridges immediately, and exchanges have been asked to suspend TAIKO deposits.
Secret Networkâs Axelar bridge was drained for $4.67M after an attacker exploited a missing source-channel check to mint unbacked wrapped tokens. The exploit went undetected for seven days due to Secretâs encrypted balances. About $672K remains in the attackerâs wallet â Axelar declined to freeze it.
JaredFromSubwayâs MEV bot was drained for $7.5M after an attacker deployed fake tokens and pools designed to look like profitable arbitrage opportunities. The bot approved the attackerâs helper contracts as spenders while chasing the bait, leaving unused approvals active until the attacker drained WETH, USDC, and USDT directly from the contract.
Thetanuts Finance was exploited on Ethereum for ~$2M via a single transaction draining 238 token transfers. The attacker has since claimed to be a white hat and offered to return funds, though no return has been confirmed.
LittleBoyPlus on BSC was exploited for ~$377K via a zero-value transferFrom bypass that triggered unauthorized token minting into a PancakeSwap pair, creating a reserve imbalance that allowed the attacker to drain USDT.
DIP on BSC was exploited for ~$111K via a transfer bug that desynced AMM reserves, allowing a single transaction to drain the DIP/AIC liquidity pool.
Protocol Winddowns âźď¸:
Ventuals is shutting down after trading $650M in volume across pre-IPO, commodity, and index markets on Hyperliquid. All markets settle by June 18, vHYPE holders get their HYPE back 1:1 plus staking yield starting June 19, and there will be no Ventuals token. The team is joining another Hyperliquid ecosystem project.
Satori Finance is shutting down due to unsustainable revenue. Users have until July 16 to close positions and withdraw assets â after that, the platform will no longer be operational.
Swellchain is shutting down â all assets must be bridged off via Superbridge by June 23 or they will be unrecoverable. Affected assets include weETH, wstETH, USDe, sUSDe, ENA, ezETH, rsETH, and others.
DeFiđ
GnosisDAO is voting on a one-time pro-rata treasury redemption allowing GNO holders to exchange tokens for their share of liquid treasury assets at net asset value, with participation entirely voluntary. So far, the proposal has overwhelming support with 48,337 votes in favor versus 301 against, indicating strong consensus among token holders.
Megaeth Terminal rewards go live with $1M total available in USDm payable to delegated addresses. MOSS launches June 17th, allowing eligible accounts to double rewards by linking their MOSS account before the deadline.
Aave proposed using V4âs hub-and-spoke architecture to bring securities financing onchain â covering securities-backed lending, repo, and securities lending, markets worth tens of trillions combined. The pitch: atomic settlement replaces T+1/T+2 delays, and the 20-30% cut lending agents currently take routes back to asset owners instead.
Boros launched a new maker incentive program, giving makers 20% of taker fees on fills in addition to existing limit order incentives â designed to deepen orderbook liquidity beyond the current ~$300M. Taker fees remain unchanged.
Ethereumâs Kohaku upgrade is approaching, aiming to bring full-stack privacy to the chain â a response to growing institutional adoption and the push for transactional confidentiality at the protocol level.
Stablecoins/RWAđŞ
Centrifugeâs tokenized US Treasuries (deJTRSY) and AAA CLO (deJAAA) launched on SushiSwap via Stellar.
Perps DEXđđ
Ondo Perps listed SpaceX ($SPCX) perpetuals with 10x leverage, following SpaceXâs IPO.
Privacyđ
Base launches Base Privacy, a native enterprise-grade infrastructure for private transactions on the blockchain. Financial institutions can now trade, pay, and settle with confidentiality on crypto rails.
Raises đ°
Multipli received an investment from Coinbase Ventures via the Base Ecosystem Fund to build RWA-backed credit infrastructure for institutions and retail investors.
Re Protocol received a strategic investment from Coinbase Ventures, with $490M in premiums written and policies covering nearly 1M households as of June 2026.
Newsđď¸
Coinbase announced a sweeping product expansion, including tokenized stocks, pre-IPO perps, equity indices, crypto derivatives returning to the US, an AI investment advisor, crypto-backed mortgages, ETH/SOL borrow with liquidation protection, and a full agent banking stack via Base MCP.
Sonic Labs announced a board overhaul, with co-founders Michael Kong, Andre Cronje, and David Richardson stepping down. Matt Visser takes over as CEO, with a pledge to rebuild trust through transparent governance and a new risk and compliance committee, while engineering continues shipping throughout the transition.
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