[News Brief] Jul 6, morning | South Korea’s Supreme Court to Formalize Procedures for Seizure and Liquidation of Virtual Assets

South Korea’s Supreme Court to Formalize Procedures for Seizure and Liquidation of Virtual Assets

South Korea’s Supreme Court has issued for public notice a proposed amendment to court rules that would institutionalize civil compulsory execution and liquidation procedures for virtual assets.

According to PANews, the Supreme Court announced the proposed partial amendment to the Civil Execution Rules on July 2, will collect public comments through August 11, and plans to implement the changes on October 1.

The amendment includes procedures for the seizure of claims for the transfer of virtual assets as well as the virtual assets themselves, along with restrictions on disposition and liquidation procedures. Once a court seizure order takes effect, transfers by third-party obligors and the debtor’s disposition of rights will be restricted.

Seized virtual assets may be liquidated through transfer orders or sale orders. Proposed sale methods include entrusting the sale to a virtual asset service provider, transferring the assets to an enforcement officer’s account for sale, or exchanging them into highly liquid virtual assets before selling them.

CertiK: 344 Web3 Security Incidents in H1, Losses Reach $1.32 Billion

According to Odaily, Web3 security firm CertiK said in its 'Hack3D H1 2026 Report' that there were 344 security incidents across the Web3 ecosystem in the first half of the year, resulting in approximately $1.32 billion in losses.

The report said that excluding last year’s $1.45 billion Bybit security incident, the scale of losses rose about 28% year-over-year. Wallet compromises caused the largest losses at about $450 million, and while the number of phishing attacks declined, the decrease in damages was limited because attackers increasingly targeted high-net-worth individuals and institutions.

Code vulnerability exploits were the most frequent category, with 204 incidents. CertiK said smart contracts that had been operating for a long time without undergoing re-audits had become major targets, and that two major incidents related to KelpDAO and Drift Protocol accounted for about $577 million, or 44% of total losses.

'Ill Bloom' Wallet Generation Vulnerability Exploited, Thousands of Accounts Still at Risk

A wallet generation vulnerability known as 'Ill Bloom' has reportedly been exploited, leaving thousands of accounts still exposed to risk. The impact is believed to span Bitcoin, Ethereum and Layer 2 networks, Tron, and Solana wallets.

According to PANews, Coinspect Security said the 'Ill Bloom' vulnerability is being actively exploited by attackers and could lead to theft of funds from affected wallets.

Coinspect explained that the vulnerability has affected multiple blockchain wallets since 2018 and that vulnerable wallets were still being generated until just a few weeks ago. The issue was not limited to a single software wallet, according to the firm.

Coinspect said that as of May 27, about $3 million had been stolen from hundreds of accounts, and roughly $2 million more had recently been moved from exposed wallets within just a few hours.

Coinspect released a tool to check affected addresses and urged wallet providers to integrate vulnerable mnemonic detection features. SlowMist Chief Information Security Officer 23pds also said the team is tracking related random number generation risks and advised users to verify whether they had used mnemonics generated in the past.

Summer.fi Suffers Attack, About $6 Million Stolen

According to Blockaid monitoring, Summer.fi is under attack, and about $6 million has been stolen so far.

Specific details about the attack method and whether there has been additional damage have not yet been disclosed.

Visa Data Shows Adjusted Stablecoin Volume at $1.79 Trillion in June

According to Wu Blockchain, Visa Onchain Analytics data showed adjusted stablecoin transaction volume reached $1.79 trillion in June. That was up 63% from $1.10 trillion in May and surpassed the previous high of $1.78 trillion recorded in February.

By stablecoin, USDC accounted for about 67% of the total with $1.21 trillion in volume. USDT recorded $576 billion, representing about 32%.

By network, Base posted the highest transaction volume at $565 billion, narrowly ahead of Ethereum at $562 billion. Tron ranked third.

American Bitcoin Buys 500 More BTC, Holdings Surpass 8,000 BTC

According to @BitcoinMagazine, American Bitcoin, reportedly associated with Eric Trump, added 500 BTC to its holdings.

With the latest purchase, American Bitcoin’s total BTC holdings have surpassed 8,000. The move reflects the continuing trend of incorporating Bitcoin into institutional and corporate treasury strategies.

Strive Bought 17.76 More BTC Last Week, Holdings Rise to 19,882 BTC

According to Odaily, Matt Cole, CEO of Bitcoin financial services firm Strive, said on X that the company purchased an additional 17.76 BTC last week.

As a result, Strive’s Bitcoin holdings increased to 19,882 BTC. The company said it added a cumulative 6,236 BTC in Q2 2026, posted a 24% Bitcoin yield during the same period, and recorded a holdings increase of 3,264 BTC.

Figure Technology Solutions Plans $600 Million Senior Secured Notes Offering

According to Odaily, Nasdaq-listed blockchain financial platform Figure Technology Solutions plans to raise $600 million through an offering of senior secured notes to qualified institutional buyers.

The proceeds are expected to be used for the cash consideration in its acquisition of AI-based real estate lending platform Kiavi, as well as for general corporate purposes and offering-related expenses. Whether the offering proceeds and under what terms will depend on market conditions.

XRP Spot ETFs See $17.19 Million in Net Inflows Over One Week

Odaily, citing SoSoValue data, reported that XRP spot ETFs recorded $17.19 million in net inflows from June 28 to July 2, U.S. Eastern Time.

The product with the largest weekly net inflow was the Bitwise XRP ETF, which attracted $7.919 million. Its cumulative net inflows now stand at $501 million.

The Canary XRPC ETF recorded net inflows of $6.3886 million during the same period, bringing its cumulative net inflows to $467 million.

As of the time of reporting, total net assets of XRP spot ETFs stood at $988 million, and the ratio of ETF net assets to XRP’s total market capitalization was 1.47%. Cumulative net inflows totaled $1.49 billion.

Whale Address Withdraws 14,267 ETH From Binance

According to Odaily, on-chain analytics firm Lookonchain said a whale address withdrew 14,267 ETH, worth about $25.3 million, from Binance.

Large ETH outflows from exchanges are often interpreted as a sign of easing sell pressure, but since this was activity from a single wallet, further transactions should be monitored.