$19.3 Million Drained from BonkDAO in Governance Attack
BonkDAO suffered a loss of $19.3 million due to a governance attack. The incident involved a treasury transfer hidden within a proposal that was passed with low voter turnout.
An attacker acquired 1% of BONK tokens and executed a governance attack by embedding a treasury transfer in a proposal. The proposal was approved with only 2.9% voter turnout, allowing the attacker to drain the funds without any code vulnerabilities or key leaks. This incident highlights the risks associated with token-weighted governance voting systems.