BonkDAO Suffers Governance Attack as $4 Million Vote Push Drains $20 Million Treasury

According to BonkDAO's official statement disclosed on July 6, the Solana-based DAO suffered a governance attack that drained approximately $20 million worth of BONK tokens from its treasury. An attacker spent roughly $4 million to acquire sufficient voting power through token-weighted voting on BonkDAO's Realms governance infrastructure, then passed a malicious proposal authorizing the treasury transfer.

The attack exploited governance mechanisms rather than smart contract vulnerabilities. Blockchain investigators tracked stolen funds moving toward cryptocurrency exchanges, with South Korean exchange Upbit subsequently suspending BONK deposits and withdrawals.