BonkDAO Governance Attack Results in $20M Loss
BonkDAO experienced a governance attack leading to a significant loss. An attacker manipulated the voting system to transfer funds from the treasury.
On July 6, 2026, BonkDAO suffered a governance attack where the attacker acquired sufficient voting power by spending approximately $4 million to buy BONK tokens. This enabled the attacker to pass a malicious governance proposal, identified as BIP-76.
The proposal resulted in the transfer of around $20 million worth of BONK from the treasury to wallets controlled by the attacker. The incident did not involve a smart contract exploit; instead, it exploited the DAO's own voting mechanisms.