News / Crypto & Digital Assets / BONK faces $20 million treasury drain after attacker spends $4 million to pass malicious proposal
Crypto & Digital Assets
BONK faces $20 million treasury drain after attacker spends $4 million to pass malicious proposal
The attacker bought enough of the memecoin's tokens to pass a governance proposal that sent the group's holdings to a wallet they controlled, then began selling.
By Mr Usman1 min readUpdated Jul 8, 2026
BONK faces $20 million treasury drain after attacker spends $4 million to pass malicious proposal · Photo: Unsplash
The attacker bought enough of the memecoin's tokens to pass a governance proposal that sent the group's holdings to a wallet they controlled, then began selling.
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