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On July 6, Solana ecosystem’s popular meme project BonkDAO suffered a governance attack, resulting in losses of approximately $20 million worth of BONK tokens.

The attacker forcibly passed a malicious governance proposal on Solana’s Realms platform, stealing tokens from the DAO treasury. Preliminary on-chain analysis indicates that the attacker first purchased about $4 million worth of BONK tokens through an exchange wallet, thereby accumulating enough voting power to get the proposal approved. This was not a smart contract vulnerability, but a typical token-weighted voting attack.

The stolen tokens have already begun transferring to exchanges, increasing the risk of being sold off. After the news was announced, the BONK token fell by more than 10%. The team is working with major exchanges, the Solana Foundation, and law enforcement authorities to track the assets and freeze them if possible.

This incident once again rings the alarm for DAO governance security—mechanisms such as timelocks, multi-signature approvals, and delayed treasury execution were supposed to prevent a single proposal from draining protocol funds, but vulnerabilities still exist in real operations. On the Solana chain, the Trump-themed dogecoin Cona route is currently booming in its staking ecosystem, and its visibility is gradually ramping up.
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