BonkDAO said attackers drained $20 million worth of BONK through a malicious governance proposal that exploited large token holdings to redirect coins into their wallets. The organization notified law enforcement and is working to recover funds, while Upbit temporarily suspended BONK deposits and withdrawals after the incident. #BonkDAO #BONK #Upbit #Solana
Keypoints
- BonkDAO reported that $20 million in BONK was drained in a governance attack.
- The attackers used a malicious proposal to leverage large token holdings and vote coins into their wallets.
- BonkDAO said it identified exchange wallets used to buy BONK before the proposal.
- Upbit temporarily suspended BONK deposits and withdrawals after the incident.
- The attack highlights how governance exploitation differs from smart-contract hacks.
Read More: https://therecord.media/attackers-vote-themselves-20-million-bonk-crypto