BonkDAO Reveals $20M Treasury Raid After Malicious Governance Attack

BONK faces $20 million treasury drain after attacker spends $4 million to pass malicious proposal

The attacker bought enough of the memecoin's tokens to pass a governance proposal that sent the group's holdings to a wallet they controlled, then began selling.

BonkDAO reveals $20M treasury raid after malicious governance attack

BonkDAO has disclosed that attackers have drained roughly $20 million worth of BONK tokens from its treasury after exploiting a malicious governance proposal. According to a statement published by BonkDAO on X, the unauthorized proposal allowed an unknown entity to…

Was It a Hack or Governance? BONK's $21M Treasury Vote Divides Crypto

An anonymous wallet spent $4.4 million buying BONK tokens over two days, then used that stash to push through a governance vote that allowed it to drain $21.2 million from the BonkDAO treasury. The incident, which saw the attacker walk away with a $16.8 million profit, has split the crypto community between those calling it a theft and those insisting the DAO did exactly what it was built to do. How the Vote Went Through According to blockchain …

BonkDAO’s estimated $20M drain exposes how memecoin treasuries can be raided by a simple vote

BonkDAO said a governance proposal drained about $20 million in BONK from its treasury, exposing how DAO votes can become a path to treasury funds. The group behind BONK said the proposal was malicious and that investigators had identified exchange wallets that had been used to buy BONK ahead of the vote. It added that investigators had identified exchange wallets used to buy BONK ahead of the proposal and that the DAO was working with exchanges…

BonkDAO Lost $20M Because Only 7 People Showed Up to Vote Altcoin News ETHNews

An attacker drained $20 million from the BonkDAO treasury through a valid governance vote. The takeover required buying roughly 1% of the BONK supply for about $4.4 million. Only 7 out of more than 18,000 DAO members voted on the malicious proposal. BONK fell as much as 10% while Upbit and Kraken froze deposits and withdrawals. On July 6, 2026, an unknown actor transferred 4.43 trillion BONK tokens, worth roughly $20 million, out of the BonkDAO …

BonkDAO Loses ~$21M in BONK via Malicious Governance Proposal on Solana - The Cryptocurrency Post

BonkDAO, the decentralized organization governing the Solana-based meme coin BONK, confirmed on July 6 that its treasury was drained of approximately $20 million to $21 million worth of tokens. The loss occurred not through a technical smart contract exploit, but through a malicious governance proposal that was successfully passed and executed. BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BON…