BONK DAO Hit by $20M Treasury Drain After Attacker Exploits Governance Vote

A malicious actor targeted the BONK memecoin community by purchasing enough tokens to gain majority control in a governance vote. The attacker spent approximately $4 million acquiring these tokens to push through a fraudulent proposal. The proposal, once passed, authorized the transfer of the group's treasury holdings to a wallet under the attacker's control. The attacker then began liquidating the stolen funds, putting roughly $20 million in treasury assets at risk.