BonkDAO treasury drained of $20M in BONK tokens via malicious governance proposal

The Bonk DAO wallet was exploited for roughly $20 million worth of the prominent dog-themed meme coin on Solana.

The developers behind the memecoin project said they had informed law enforcement after the attack and were working to “recover funds and identify those responsible.”

The hack exposes critical vulnerabilities in DAO governance, highlighting the urgent need for stronger security measures to protect investor assets. The post BonkDAO hacked for $20M in BONK tokens via malicious governance proposal appeared first on Crypto Briefing.

BonkDAO, the decentralized autonomous organization tied to the Solana-based memecoin BONK, said Monday it was the target of a malicious governance proposal that drained an estimated $20 million worth of BONK tokens from its treasury, according to a post on its official X account. The DAO said the…

BonkDAO, the decentralized autonomous organization overseeing the BONK meme token ecosystem on Solana, confirmed on Monday that it was the victim of a targeted governance attack resulting in the loss of approximately $20 million in BONK tokens. The incident highlights a critical vulnerability in decentralized governance structures, as the attacker did not exploit smart contract […]

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