BonkDAO reports $20M theft from ‘malicious governance proposal’
Summary
BonkDAO said an unknown party drained about $20 million in BONK tokens from its Solana treasury through a “malicious governance proposal.” The DAO reported the incident to law enforcement and is trying to recover the funds and identify those responsible. BONK, a dog-themed memecoin launched in December 2022, fell about 7% over 24 hours after the report. The attack comes amid weakness across the memecoin market: major tokens such as DOGE, SHIB, and PEPE recently pushed the sector’s market cap to a two-year low before a partial rebound, and the total remained far below last year’s level.
