Taiko (TAIKO)

Forever downtrend $TAIKO https://t.co/2NuUU8ok4O

Crypto had a brutal few days.

Taiko → halted block production after a bridge exploit.

Secret Network → lost $4.7M from an infinite mint bug.

JaredFromSubway → the infamous MEV bot got drained for over 10M.

MainStreet → MSUSD depegged below $0.40.

Altura → processed 8.5M+ in withdrawals in past 24 hours and is winding down.

Aztec Connect → lost ~$2.1M through an old contract exploit.

Ionic → shutting down after failing to recover from its previous hack.

Alloy by Tether → discontinued aUSDT minting.

Fishing Frenzy → shutting down after failing to find PMF.

Another day, another exploit.

But the real story isn't the $1.7M loss.

Taiko’s proof verification system accepted fake proofs as real. No valid on-chain event.

No proper backing. A design flaw, not a traditional hack.

The attacker moved $189K in TAIKO to MEXC before the team even finished investigating and still holds ~870 ETH ($1.5M).

This is the 20th+ bridge/DeFi hack in June alone.

These aren't isolated incidents.

Proof verification is becoming the biggest attack surface for L2 bridges.

Teams keep shipping. Attackers keep finding holes.

Bridges are starting to look less like infrastructure and more like liabilities with good marketing.