10.3K @Stupifff Dude buys a huge amount of BONK on exchanges
Makes a governance proposal to send himself $20m
Votes with his huge token holdings
After 6 days no one notices and it passes
DAO performing exactly as designed
"Law enforcement has been notified." https://t.co/YpPNL6fGck
448.2K @bonk_inu 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 currently actively working with exchanges, bridges and Solana Foundation to best manage the situation.
Law enforcement has been notified. BonkDAO continues to work with relevant parties to recover funds and identify those responsible.
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32.3K @zubic_eth This is wild!! 🤯
BONKDAO just got rugged for $20M in BONK through a governance proposal. No smart contract hack, no flash loans. Just an attacker who bought around $4M worth of tokens, stacked enough voting power, and passed a malicious proposal that drained the treasury straight to their wallet.
It’s actually insane that this worked. Token-weighted voting let one person basically buy control, pass the proposal, and drain the treasury. Now the tokens are being sent to exchanges while the team scrambles with exchanges, the Solana Foundation, bridges, and law enforcement trying to recover.
This is exactly why governance can be such a massive attack vector in DAOs. Buy enough influence, vote yourself rich, and leave everyone else to deal with the fallout. “Decentralized” can also mean wildly gameable.
P/C: @definalist
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54.2K @Satoshi_Talks $BONK is down 11% after BonkDAO confirmed a malicious governance proposal drained an estimated $20M from its treasury.
The DAO says it has identified wallets that bought BONK ahead of the vote and is working with exchanges, bridges and the Solana Foundation to recover funds. https://t.co/u2bsJOqMZK
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