On July 7, BonkDAO suffered a malicious governance proposal attack, during which the attacker transferred approximately $20 million worth of BONK tokens from the treasury. The BONK price dropped more than 9%, Upbit suspended BONK deposits and withdrawals, and BonkDAO has notified law enforcement and is attempting to recover the funds.
BonkDAO Hit by Governance Attack, Loses $20M in BONK as Upbit Pauses Services
AiCoinShare
Summary
On July 7, 2026, BonkDAO suffered a governance attack involving a malicious proposal that drained $20 million in BONK from its treasury. The incident triggered a 9% decline in the BONK price, prompting Upbit to suspend deposits and withdrawals. The project has reported the on-chain incident to authorities and is actively working to recover the stolen funds.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.