BonkDAO’s estimated $20M drain exposes how memecoin treasuries can be raided by a simple vote
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