BonkDAO Treasury Drained of $20M BONK via Malicious Governance Attack; Upbit, Bithumb, Coinone Flag Token on July 7

According to BONK Foundation, on July 6 an estimated $20 million worth of BONK tokens were drained from the BonkDAO treasury through a malicious governance proposal attack. The foundation identified exchange wallets used to purchase BONK before the proposal was submitted and is coordinating with Solana Foundation, exchanges, and bridge operators to prevent further damage and recover funds. Law enforcement has been notified.

On July 7, South Korea's three major exchanges—Upbit, Bithumb, and Coinone—designated BONK as a caution trading subject due to unresolved security incidents affecting the asset's value and insufficient investor protection disclosures. Upbit's designation runs until the first week of August; Bithumb and Coinone flagged the token for approximately one month.