South Korea · The Block
BonkDAO sheds $20 million following ‘malicious governance proposal’ attack
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BonkDAO appears to be the latest victim of a crypto attack, according to Bonk Inu’s official X page.
Key facts
- BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury," the X account wrote on Monday
- BONK is a popular dog-themed memecoin launched on the Solana blockchain in December 2022, known for its massive community airdrop
- In response to the attack, South Korean exchange Upbit posted a message alerting users that deposits and withdrawals for BONK have been "temporarily suspended
- BonkDAO appears to be the latest victim of a crypto attack, according to Bonk Inu’s official X page
Summary
"BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury," the X account wrote on Monday. According to the message, an attacker pushed through a suspicious governance proposal that allowed the treasury to be drained. The token is down over 9%, ’s price page. In response to the attack, South Korean exchange Upbit posted a message alerting users that deposits and withdrawals for BONK have been "temporarily suspended.