Monday, July 6, 2026

Solana Meme Coin Bonk Treasury Drained of $20 Million in 'Malicious' Governance Attack

The Bonk DAO wallet was exploited for roughly $20 million worth of the prominent dog-themed meme coin on Solana.

  • The BonkDAO treasury on Solana was exploited for approximately $20 million worth of BONK tokens through a malicious governance proposal.
  • The incident involved the transfer of over 4.4 trillion BONK tokens to an attacker-controlled wallet, prompting investigations and law enforcement notification.
  • In response, crypto exchanges like Upbit and Kraken have paused BONK deposits and withdrawals, and the BONK token has seen a price decrease.

Topics: Asset types, Legal regulatory, Risk default, Alternative assets, Enforcement actions litigation, Smart contract vulnerabilities

Tags: #bonk #solana #memecoin #governanceattack #treasury #hack #dao #securityincident #cryptotheft

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