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BonkDAO has become the victim of a crypto attack. This was reported on Bonk Inu’s official X page.
According to the project team, an attacker used a malicious governance proposal, which resulted in about $20 million worth of BONK being drained from the BonkDAO treasury.
The attacker managed to push through a suspicious governance proposal that opened access to the treasury’s funds. After that, the stolen tokens began moving toward exchanges, adding pressure on the BONK price.
Market reaction to the incident
Following the incident, the BONK token fell by more than 9%. Against this backdrop, South Korean exchange Upbit warned users that BONK deposits and withdrawals had been temporarily suspended.
The Bonk team said it had already notified law enforcement. BonkDAO continues to work with relevant parties to recover the funds and identify those responsible for the attack.
What is known about BONK
BONK is considered one of the most notable memecoins in the Solana ecosystem. The token appeared in December 2022 and quickly gained popularity after a large-scale airdrop to users and community members.
That is why the attack on BonkDAO drew significant attention. The project has long moved beyond being just another memecoin: it has built an active community around it, while BONK itself has become part of Solana’s broader infrastructure. The loss of treasury funds could affect not only the token’s price, but also confidence in the project’s governance.
Earlier, we prepared a selection of the best memecoins for investment.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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