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🚨Unbelievable: $BONK DAO just lost $20M, and it wasn't because of a smart contract hack 😱
An attacker reportedly bought around $4M worth of BONK, giving them enough voting power to submit a malicious governance proposal that would transfer 4.4 trillion $BONK , worth about $20M, to their own wallet.
The proposal went unnoticed for seven days, and just before voting closed, the attacker used their voting power to push it through. Since the proposal was approved, the DAO automatically executed the transfer.
The attacker later sold the tokens, turning a $4M position into roughly $20M. This wasn't a technical exploit, it was a governance attack where voting power was used to pass a malicious proposal. BONK DAO says it has notified law enforcement and is working to recover the funds.