BONK DAO Confirms $20M Treasury Drain in Malicious Governance Proposal Attack

BONK DAO confirmed attackers drained an estimated $20 million worth of BONK tokens from its treasury via a malicious governance proposal. According to BeInCrypto, the stolen funds have started moving to exchanges, prompting BONK DAO to coordinate with exchanges, the Solana Foundation, bridges and law enforcement to track and recover assets. The project said it identified exchange wallets used to accumulate voting power ahead of the proposal, which was approved through Solana’s Realms governance platform; investigators estimate the attacker bought roughly $4 million of BONK to secure votes.