The post Was It a Hack or Governance? BONK’s $21M Treasury Vote Divides Crypto appeared on BitcoinEthereumNews.com.
BonkDAO says it has alerted law enforcement about the treasury drain and is coordinating with exchanges to manage the situation. An anonymous wallet spent $4.4 million buying BONK tokens over two days, then used that stash to push through a governance vote that allowed it to drain $21.2 million from the BonkDAO treasury. The incident, which saw the attacker walk away with a $16.8 million profit, has split the crypto community between those calling it a theft and those insisting the DAO did exactly what it was built to do. How the Vote Went Through According to blockchain analytics platform Lookonchain, preparations for the theft started on June 30 when the attacker filed a proposal asking BonkDAO to move 4.426 trillion BONK, worth about $21.2 million, to a wallet they controlled. To pass, the proposal had to be supported by at least 1% of the BONK supply, which, per dat
The post Can WLD Soak Up Daily Supply as AI Tokens Cool? appeared on BitcoinEthereumNews.com.
Worldcoin pushes fresh WLD into circulation every day. That’s by design. The protocol hands out tokens to the folks operating Orbs and to verified users through grants. The question is whether the market can keep absorbing that drip while the broader AI token trade cools off. It’s not a simple yes or no. It comes down to how quickly supply actually hits exchanges, who’s buying on the other side, and whether Worldcoin’s identity utility starts to matter more than the AI narrative that drove early hype. If you want a clean read on it, break the problem into three buckets: the emission pipes, the demand spigots, and the near-term risks that could tilt the balance.
Point
Details
Daily emissions are programmatic
WLD enters circulation via Operator and User Grants, per Worldcoin docs; size and pacing can be adjusted within program limits Worldcoin Docs.
Absorption hinges on
The post Someone Stole $21M From BonkDAO Without Hacking Anything appeared on BitcoinEthereumNews.com.
An attacker has stolen $21.2 million from the BonkDAO treasury without hacking anything. He purchased BONK tokens for $4.4 million, proposed via the governance forum that nobody checked for seven days. He voted yes for the proposal with his own tokens, and watched the funds move to his wallet automatically. Once executed, it was irreversible. In a few hours, BONK price has dropped approximately 6.59% with 955.47 billion volume. The token went from a high near 0.00000490 to 0.00000417 as the news spread. Market cap lost approximately $40 million and some exchanges halted BONK withdrawals. BONK price has dropped approximately 6.59% Details of the BonkDAO Steal The proposed name for the project was BIP #76, Sowellian BonkDAO. It talked about governance improvements, asset monetization, and rebuilding the token, but it didn’t explain what this meant in concrete terms. The transaction con
The post SEC Targets New Crypto Exchange Rules in 2026 Policy Shift appeared on BitcoinEthereumNews.com.
The U.S. Securities and Exchange Commission has signaled another major shift in its cryptocurrency strategy by placing digital asset regulation among its top priorities for 2026. The agency plans to revise rules affecting exchanges and broker-dealers while reshaping how existing securities regulations apply to crypto markets. Besides reducing uncertainty, the initiative aims to modernize oversight without slowing innovation. The proposals also reflect the SEC’s broader effort to replace enforcement-driven policies with clearer regulatory standards that market participants can follow. Broker-Dealer Rules Face Major Revisions The SEC intends to review capital, customer protection, and recordkeeping requirements for broker-dealers handling crypto assets. Consequently, firms could receive updated compliance standards tailored to digital assets rather than traditional securities. The a
The post CLARITY Act Clock: August 7 and U.S. Crypto Market Stakes appeared on BitcoinEthereumNews.com.
We are officially in crunch time. The CLARITY Act has a narrow summer window, and the U.S. crypto market is basically running a two minute drill. If the clock expires, the playbook for exchanges, stablecoin issuers, and token teams could look very different through the rest of 2026. This piece breaks down what the bill is trying to solve, why August 7 matters, how a fresh Supreme Court ruling and ethics fights are altering the math, and what you can do with the time left. No hype. Just the moving parts that actually change decisions. If you build, trade, or advise in crypto, this is the part of the calendar where federal timing becomes a business risk. Let’s map it cleanly. The CLARITY Act is up against a real summer cutoff. After missing a July 4 target for a White House signing, advocates are treating August 7, 2026 as the last credible day for Senate passage before recess. If it d
The post Bonk Price Slides After $20M DAO Attack Hits Solana Memecoin appeared on BitcoinEthereumNews.com.
Key Insights Bonk Price dropped after a DAO treasury attack. BonkDAO blamed a malicious governance proposal. Bonk crypto faced pressure as memecoin demand weakened. Bonk Price fell after BonkDAO reported that an unknown entity drained treasury tokens through governance. The attack hit the Solana-based memecoin project and forced the team to contact law enforcement. The move added pressure on bonk crypto during a weak period for memecoins. Traders reacted because the exploit targeted governance, not only wallet or exchange security. Bonk Price Reacts To Treasury Drain Bonk Inu said on X that BonkDAO detected a malicious governance proposal behind the treasury loss. The project said it worked with law enforcement to recover funds and identify responsible parties. Source: Bonk Inu CoinMarketCap data showed BONK traded near $0.000004 after dropping 7.89% over the past 24 hours. The mo
The post BonkDAO’s estimated $20M drain exposes how memecoin treasuries can be raided by a simple vote appeared on BitcoinEthereumNews.com.
BonkDAO said a governance proposal drained about $20 million in BONK from its treasury, exposing how DAO votes can become a path to treasury funds. The group behind BONK said the proposal was malicious and that investigators had identified exchange wallets that had been used to buy BONK ahead of the vote. It added that investigators had identified exchange wallets used to buy BONK ahead of the proposal and that the DAO was working with exchanges, bridges, the Solana Foundation, and law enforcement to manage the aftermath and pursue recovery. The disclosed path points to the vote itself as a security boundary: a proposal moving through the DAO’s own decision system, with treasury assets on the other side. For DAOs with liquid treasuries, participation levels and execution delays become core security controls. Related Reading Build Finance DAO hostil
The post BonkDAO Attacker Moves $19M Loot Into New ‘BONK 2.0’ DAO appeared on BitcoinEthereumNews.com.
The wallet behind BonkDAO’s $20 million governance attack has parked most of the stolen BONK in a multisig controlled by a newly created shadow DAO, Chainalysis said in a post on its official X account Tuesday. The wallet behind BonkDAO’s $20 million governance attack has parked most of the stolen BONK in a multisig controlled by a newly created shadow DAO, Chainalysis said in a post on its official X account Tuesday. The blockchain analytics firm calls the structure “BONK 2.0.” The multisig is governed by three parties: the malicious voter wallet, the exploiter wallet that received the drained treasury, and a third wallet with financial ties to the voter, according to Chainalysis’s thread. The Defiant previously reported the initial drain of BonkDAO’s treasury. Attack Timeline Chainalysis traced the scheme back to June 30, when an anonymous wallet first proposed draining BonkDAO’s tr
