$BONK faces a $20 million treasury drain after an attacker reportedly spent $4 million buying enough BONK tokens to take control of a community vote. After winning the vote, they sent the project's treasury to a wallet they controlled and started selling. A $4 million investment gave them access to $20 million. Governance attacks are becoming a much bigger problem in crypto.

$BONK faces a $20 million treasury drain after an attacker reportedly spent $4 million buying enough BONK tokens to take control of a community vote.

After winning the vote, they sent the project's treasury to a wallet they controlled and started selling.

A $4 million investment gave them access to $20 million.

Governance attacks are becoming a much bigger problem in crypto.

— That Martini Guy ₿ (@MartiniGuyYT) Jul 7, 2026