BONK Treasury Attack: Why DAO Governance Risk Is Back for Meme Tokens

Aave’s GHO stablecoin has always needed distribution to matter. The DAO’s approval of a native Arbitrum deployment is a step in that direction, giving the asset a clearer path into one of Ethereum’s busiest scaling ecosy

Aave’s GHO stablecoin has always needed distribution to matter. The DAO’s approval of a native Arbitrum deployment is a step in that direction, giving the asset a clearer path into one of Ethereum’s busiest scaling ecosy

The post American CryptoFed Met SEC Ahead of Decentralized Monetary System Token Approval appeared on BitcoinEthereumNews.com. American CryptoFed, Wyoming-approved first regulated DAO in the US, met with the US SEC to discuss approaches to addressing issues related to crypto regulation. The crypto organization also discussed its Locke governance token amid approval The organization aims to launch a decentralized monetary system with zero inflation and deflation, zero transaction costs, and maximum employment. It would operate as a parallel system to the Federal Reserve. American CryptoFed Meets with US SEC According to a SEC Crypto Task Force memorandum, the SEC staff met with and representatives of American CryptoFed DAO founder members Scott Moeller and Xiaomeng Zhou. During the meeting, American CryptoFed confirmed that it had converted to a Wyoming unincorporated nonprofit association under UNA/DUNA Act last month. They also filed a Form 10 last month to register their Locke govern

The post BONK Treasury Vote: DAO Governance Risk Returns appeared on BitcoinEthereumNews.com. So here we are again. Not a smart contract exploit in the classic sense, but a rules-as-written treasury drain that sailed through governance because nobody showed up. If you hold meme tokens with DAOs attached to them, this is the wake-up call. The BONK saga isn’t just a one-off. It shows how cheap it can be to buy enough votes, meet quorum, and walk out with a treasury haul if a community is disengaged. The fix isn’t magical. It’s mostly better parameters, better process, and people actually voting. Aspect What to Know What happened An anonymous wallet filed a proposal to move roughly 4.426 trillion BONK from the BonkDAO treasury to their own wallet, and it passed with minimal turnout, triggering an automatic transfer (CoinCentral). How it was executed The attacker reportedly spent about $4.4 million buying roughly 882.285 billion BONK on centralized exchanges to

Robinhood's blockchain success with meme tokens could drive broader adoption and innovation in real-world asset tokenization. The post Robinhood Chain works great for memes, CEO says appeared first on Crypto Briefing.

The post BONK Treasury Loses $20M to Malicious Governance Vote appeared on BitcoinEthereumNews.com. BONK News South Korea’s three largest digital-asset exchanges — Upbit, Bithumb and Coinone — placed BONK, the Solana-based meme coin, under a formal trading-caution designation on July 7. The exchanges’ official announcements state the flag took effect at 4:00 p.m. local time and runs through the first week of August, citing an unresolved security incident and the inadequate disclosure of material information. The coordinated action followed the draining of roughly 20 million dollars in BONK from the project’s decentralized treasury. Under the designation, each platform will conduct an additional review that could end in reinstatement or a full delisting, leaving holders facing weeks of uncertainty around the token’s exchange standing. On-chain data shows the exploit was executed entirely through legitimate transactions. An anonymous actor spent roughly 4.4 million dollars accumulating B

The post $12 Trillion Vanguard Signals Deeper Crypto Push With New Head of Digital Assets Position appeared on BitcoinEthereumNews.com. Key Takeaways Vanguard is hiring a Head of Digital Assets to lead Personal Wealth strategy and execution. The role covers tokenization, stablecoins, custody, settlement, governance, compliance, and client-facing capabilities. The posting gives Vanguard flexibility to shape its digital asset offerings over time. Why Is Vanguard Building a Digital Assets Roadmap Now? Vanguard’s July 6 job posting places digital assets inside a client-facing wealth division, giving the role strategic and operational weight. The Head of Digital Assets would define how the asset management firm, which manages about $12 trillion in global AUM as of Nov. 30, 2025, evaluates, prioritizes, develops, and implements capabilities, products, and operating models. The role spans Dallas, Scottsdale, Charlotte, and Malvern under a hybrid model. The issue is not simply the hiring of a

Vanguard, which manages about $12 trillion in global assets under management, is recruiting a senior executive to oversee digital assets within its Personal Wealth division, signaling a reassessment of how the firm develops, governs, and delivers digital asset capabilities for clients. Why Is Vanguard Building a Digital Assets Roadmap Now? Vanguard’s July 6 job posting […]