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BONK DAO Loses $20 Million in Governance Attack, Token Falls 10%

GateNews
Security IncidentsPrice VolatilityEnforcement ActionsDaily Crypto News
BONK-1.75%
SOL-1.27%
According to BONK DAO's official statement on July 6, attackers drained an estimated $20 million in BONK tokens from the DAO treasury through a malicious governance proposal. The attacker purchased roughly $4 million worth of BONK to secure sufficient voting power before the proposal was executed on Solana's Realms platform. The stolen funds have begun moving to cryptocurrency exchanges, and BONK DAO is coordinating with exchanges, the Solana Foundation, and law enforcement to track and recover the assets. The BONK token fell over 10% following the announcement.
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