BONK Slides 8% After BonkDAO Treasury Drained of $20M in Governance Attack

The $BONK price dropped around 8% on July 6 after BonkDAO. The decentralized governance body behind Solana’s popular memecoin $BONK, confirmed that a malicious governance proposal drained an estimated $20 million from its treasury. The attacker strategically planned the attack by using DAO’s voting rules to carry out the exploit. The exploiter carted away an estimated sum of $20 million.