BonkDAO confirms $20M BONK treasury exploit after attacker buys voting power and triggers transfers

BonkDAO confirmed a treasury exploit that drained about $20 million in BONK via a malicious governance proposal, according to multiple reports on the incident ^{[1] [2] [3]}.

Reporting cited that the attacker spent roughly $4.4 million buying BONK to gain enough voting power for the proposal, which then moved treasury holdings to a wallet controlled by the attacker—after which stolen tokens began moving to exchanges ^{[4] [1] [3]}.

The exploit triggered market and operational responses, including reports that BONK’s price fell amid the news and that at least one exchange temporarily halted BONK deposits and withdrawals while it monitored activity related to the stolen funds ^{[1] [2]}.

BonkDAO and exchanges are responding to the reported $20 million treasury drain, with coverage indicating the attack executed through the DAO’s governance process and that stolen BONK was subsequently moved for sale ^{[1] [2] [3]}.