BonkDAO says malicious proposal drained about $20 million in BONK from treasury
BonkDAO said attackers used a governance proposal on Solana’s Realms platform to remove about $20 million in BONK and that it is working with law enforcement, exchanges and other partners to trace and recover the funds.
BonkDAO said a malicious governance proposal drained roughly $20 million in BONK from its treasury on Solana after BIP #76 passed on the Realms governance platform. The DAO said one wallet supplied 99.878% of the voting weight among seven wallets, apparently after accumulating enough BONK to meet the threshold needed for passage, and that about 4.4 trillion BONK was then transferred automatically. BonkDAO said it has contacted law enforcement and is coordinating with exchanges to contain the fallout and try to recover the funds, while earlier disclosures said it was also working with bridges and the Solana Foundation. BONK fell about 8.5% over the following 24 hours to $0.0000044, and the incident has intensified scrutiny of DAO governance controls such as timelocks, quorum thresholds, review windows and multisig checkpoints.
- Realms: A Solana-based governance platform used by DAOs for proposal creation and token-weighted voting.
- governance proposal: A formal measure submitted for tokenholder voting that can authorize changes or treasury actions.
- token-weighted voting: A governance model in which voting power is based on the number of tokens a participant controls.