BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury. During the investigation, BonkDAO identified the exchange wallets used to purchase BONK ahead of the proposal. BonkDAO is currently actively working

Governance capture hits BONK differently because the DAO doubles as a supply-control valve for burns. Blockworks pegged BonkDAO’s original allocation at 16% of supply and described Realms as the path for community governance, so a malicious proposal draining $20M turns the burn narrative into an execution-risk trade. Recovery now depends less on Solana forensics than CEX KYC and bridge freeze coordination, and BONK says it identified the exchange wallets used to buy BONK ahead of the July 6 proposal.

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