Attacker moved around $20 million $BONK tokens from the BonkDAO community treasure. The token is now down more than 9%.
A portion of the total token supply now sits in a thief’s wallet until they decide to sell.
How was BonkDAO attacked?
BonkDAO confirmed via its official X account that it was the target of a malicious governance proposal resulting in an estimated value of $20 million. $BONK tokens are drained from the BonkDAO treasury.
The attack took place on Solana’s Realms platform, which runs BonkDAO’s token-weighted voting system.
The first author has accumulated a large quantity of $BONK token via exchange wallets and then submitted a proposal. With this concentrated voting power, the proposal passed easily. Once approved, the proposal authorized the transfer of the treasure.
Blockchain investigators estimate the attacker spent around $4 million to purchase enough $BONK tokens for this attack.
Similar attacks took place on other Solana and cross-chain protocols between 2025 and 2026. At times, officials used flash loans to borrow enough tokens to win the majority vote in a single transaction.
However, it has not been confirmed whether this attacker borrowed the tokens or patiently accumulated them through exchanges.
What is $BONK are you doing now?
Following the incident, the theft $BONK started heading to the exchanges and the token fell by over 9%. South Korea’s Upbit has existed since frozen the tokentelling exchange users that $BONK Deposits and withdrawals had been “temporarily suspended”.
BonkDAO said in its statement. statement that it identified the exchange wallets used to purchase its tokens before the proposal went live. It would also work with other exchanges, bridges and the Solana Foundation to track stolen money and attempt to freeze it before it disappears.
The project has not yet proposed a timeline for recovering the funds.
