โ ๏ธ BonkDAO Drained of $20M After Attacker Hijacks Governance With Fake Proposal
A hacker bought $4M worth of BONK tokens to seize ~99.9% of voting power, then slipped a malicious governance proposal (BIP #76) through while barely anyone was watching โ just 7 wallets voted. The $20M treasury transfer went through without a hitch, and BONK tanked ~9% on the news. Kraken and Upbit both paused deposits and withdrawals while BonkDAO works with law enforcement and the Solana Foundation to recover funds. Not financial advice. Could low-participation DAOs be DeFi's most exploitable vulnerability right now?
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