BonkDAO lost $20 million in BONK tokens through a malicious governance proposal on Solana's Realms platform. Here's how the attack worked and what it means.

BonkDAO lost $20 million in BONK tokens through a malicious governance proposal on Solana's Realms platform. Here's how the attack worked and what it means.

The Bonk DAO wallet was exploited for roughly $20 million worth of the prominent dog-themed meme coin on Solana.

The funds have been tracked to crypto exchanges, and South Korea-based Upbit said it has suspended BONK deposits and withdrawals.

BonkDAO confirms a $20M treasury drain via a malicious governance proposal. Investigations are underway to recover funds.

BonkDAO, the decentralized autonomous organization tied to the Solana-based memecoin BONK, said Monday it was the target of a malicious governance…

BonkDAO lost $20M in BONK tokens after an attacker spent $4M to buy enough voting power to pass a malicious governance proposal on Solana's Realms platform.

The price of BONK dropped about 7% amid an attack on the project, resulting in the removal of $20 million worth of tokens.

L'attacco governance BonkDAO ha svuotato la tesoreria di oltre 20 milioni di dollari, creando preoccupazioni per la sicurezza delle DAO.

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.

Bonk plummeted on Monday, July 6, after hackers drained nearly $20 million worth of the memecoin from the project’s treasury.

The wallet behind BonkDAO's $20 million governance attack has parked most of the stolen BONK in a multisig controlled by a newly created shadow DAO.