Will whales continue accumulating the memecoin despite the governance exploit?
An attacker spent ~$4M on BONK, then passed a fake proposal to move $20M out of the treasury. No smart contract exploit — just purchased voting power.
An attacker reportedly used token-weighted voting to pass a malicious proposal and move BonkDAO treasury funds.
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.
An attacker has moved roughly $20 million in BONK tokens out of the BonkDAO community's treasury. The token is now down more than 9%.
The hack exposes critical vulnerabilities in DAO governance, highlighting the urgent need for stronger security measures to protect investor assets. BonkDAO hacked for $20M in BONK tokens via malicious governance proposal.
The attack highlights vulnerabilities in DAO governance, urging enhanced security measures to protect community treasuries and investor interests. BonkDAO treasury drained of $20M in BONK tokens via malicious governance proposal.
A Bitcoin sell-off could quickly extinguish the flicker of hope in recent days and send BONK's price sliding once again.
The BONK core contributor argued memecoins skipping ETF and public-company rails end up rinsing retail.
Paxos integrated BONK into its crypto brokerage platform, allowing the memecoin to reach more than 500 million users worldwide. The integration enables platform partners to offer BONK without additional compliance requirements or new technical implementation.