Someone just bought their way into BonkDAO’s treasury. The attacker spent approximately $4 million in BONK tokens to accumulate enough voting power on Solana’s Realms governance platform to pass a malicious proposal, then walked away with roughly $20 million in BONK from the DAO’s coffers.
How a $4M vote became a $20M heist
The attack on July 6 exploited the most basic feature of token-weighted governance: whoever holds the most tokens wins the vote. The assailant acquired enough BONK to secure a majority, then pushed through a proposal that effectively authorized the treasury to be drained.
Once the proposal passed, the stolen tokens were quickly moved toward exchanges. South Korean exchange Upbit responded by temporarily suspending BONK deposits and withdrawals, cutting off at least one exit route.
BonkDAO historically controlled around 15-16% of the total BONK supply, making its treasury a sizable target. BONK’s price dropped by over 9-10% in the immediate aftermath.
