BonkDAO hit by $20M governance attack, recovery ongoing
6.7 Security BonkDAO lost $20M in BONK tokens after a malicious governance proposal drained its treasury. The stolen funds are moving to exchanges, and recovery efforts are ongoing.
BonkDAO recently experienced a significant security breach, resulting in the loss of approximately $20 million worth of BONK tokens from its treasury. The attacker exploited Solana’s Realms governance platform by passing a malicious proposal. To do so, they reportedly purchased around $4 million in BONK tokens, amassing enough voting power to authorize the transfer of treasury funds. Following the exploit, the stolen tokens began moving to various exchanges. In response, BonkDAO has coordinated with exchanges, the Solana Foundation, bridges, and law enforcement agencies to track and recover the assets. The incident has caused downward pressure on the BONK token price and raised concerns about the security of token-weighted voting in decentralized organizations. BonkDAO has identified the wallets involved and is actively investigating the breach while working to recover the stolen funds.
