Bonk DAO treasury drained of $20 million in malicious governance attack

The Bonk DAO treasury on the Solana blockchain was exploited in what has been described as a "malicious" governance attack, with roughly $20 million worth of the dog-themed meme coin drained from the wallet. Attackers leveraged the decentralised organisation's governance mechanism to authorise fraudulent transactions. The incident ranks among the largest exploits targeting a meme coin project in the Solana ecosystem.

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🪙 Crypto $20M stolen from BonkDAO: attacker bought voting quorum and approved own transfer BitHub.pl · 18d ago 🪙 Crypto BonkDAO loses $20 million in malicious governance proposal attack The Block · 19d ago 🪙 Crypto Shiba Inu surges 36% driven by South Korean traders in mystery rally CoinDesk · 7h ago