On July 6, 2026, an attacker spent about $4 million in BONK tokens to gain majority voting power in BonkDAO and passed a malicious proposal to steal $20 million from its treasury. This exploit highlights a key weakness in token-weighted governance systems where the largest token holder controls decisions. BonkDAO lacked safeguards like timelocks or multisig controls, allowing the attacker to drain funds quickly. The DAO is now working with law enforcement and exchanges to trace the stolen tokens, while BONK’s price dropped about 10%. This incident underscores the ongoing risks in decentralized governance without stronger protections.
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BonkDAO's treasury was drained of about $20 million in BONK tokens after an attacker exploited the DAO's governance system on Solana's Realms platform. The attacker accumulated enough BONK tokens through exchange wallets to pass a malicious proposal,...
BONK DAO suffered a $20 million loss after attackers passed a malicious governance proposal, draining treasury funds. The attacker used $4 million worth of BONK tokens to gain voting power and approve the transfer. Stolen tokens are now moving to exc...
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