BonkDAO suffered a $20 million loss after a malicious governance proposal passed, transferring treasury funds to an attacker-controlled wallet. The attacker spent about $4.4 million buying BONK tokens to gain enough voting power, exploiting the DAO's token-weighted voting system without any smart contract hacks. This incident highlights risks in DAO governance where low quorum and concentrated voting power can lead to major treasury drains. BonkDAO is now working with exchanges and law enforcement to trace and possibly recover the stolen funds, while the BONK token price weakened following the attack.
An attacker spent about $4.4 million to buy just over 1% of BONK tokens, meeting the quorum to pass a governance proposal that transferred $20 million from BONK DAO's treasury to their wallet. The proposal passed with 99.9% 'yes' votes in a low-turno...
Cryptocurrency markets experienced mixed price changes, with Bitcoin rising 1.86% to $63,791 and Ethereum increasing 1.11% to $1,792.52. Other notable movements include AAVE up 7.98% and DEXE surging 17.23%, while some coins like ADA and ZEC saw decl...
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 sy...
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...
