BonkDAO treasury drained of $20 million in BONK after malicious proposal
BonkDAO said it is working with exchanges, bridges, the Solana Foundation and law enforcement after a malicious governance proposal drained its treasury.
BonkDAO was hit by a malicious governance proposal that drained an estimated $20 million worth of BONK tokens from its treasury.
BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury.
During the investigation, BonkDAO identified the exchange wallets used to purchase BONK ahead of the proposal. BonkDAO is…
— BONK!!! (@bonk_inu) July 6, 2026
BonkDAO said that during its investigation it identified exchange wallets used to purchase BONK ahead of the proposal. The DAO is now working with exchanges, bridges and the Solana Foundation to manage the situation.
Law enforcement has also been notified. BonkDAO said it continues to work with relevant parties to recover the funds and identify those responsible.
The incident shows how DAO governance systems can become attack vectors when token voting power is accumulated and used to push through malicious proposals.