An attacker exploited a governance vulnerability in BonkDAO and made off with 4.426 trillion BONK tokens from the project's treasury. The hacker has already sold 800 billion of those tokens for roughly $2 million, but still holds 2.4 trillion BONK — a stash worth millions at current prices.
How the exploit worked
The attacker targeted the DAO's governance mechanism, though the exact technical details of the breach have not been fully disclosed. What is known is that the exploit allowed the hacker to drain a massive chunk of the treasury's BONK holdings in a single coordinated move. The BonkDAO team has not yet confirmed whether the vulnerability has been patched or if any funds can be recovered.
What the attacker did with the tokens
After the theft, the attacker quickly sold 800 billion BONK tokens, converting them into about $2 million. That sale likely caused a temporary dip in the token's price, though the market has since stabilized. The remaining 2.4 trillion BONK — more than half of what was stolen — remains in the attacker's wallet, creating an overhang that could pressure the token if sold in bulk.
The DAO now faces a difficult question: how to respond to a governance exploit that emptied its treasury. Without naming the attacker or detailing a recovery plan, the project's future depends on whether it can secure new funding, implement tighter controls, or negotiate with the hacker. No timeline for next steps has been announced.
