Someone just pulled off one of the most brazen DAO heists of the year, and they didn’t need to write a single line of malicious code to do it. An anonymous attacker drained approximately 4.426 trillion BONK tokens from BonkDAO’s treasury by simply playing the governance game better than everyone else.
The attacker has already sold 800 billion BONK for roughly $2 million and still holds 2.4 trillion tokens.
How the attack worked
The attacker accumulated around 882 billion BONK tokens at a cost of approximately $4.4 million. That stake was enough to surpass BonkDAO’s voting quorum, the minimum threshold of participation required to pass a proposal.
With quorum in hand, the attacker submitted and passed a malicious governance proposal that directed treasury funds to a wallet they controlled. The entire operation was executed through legitimate on-chain transactions with no smart contract vulnerability, flash loan trickery, or re-entrancy bug exploited.
