BonkDAO Reports $20 Million BONK Theft in Governance Attack
Summary
BonkDAO reported that attackers used a malicious governance proposal to drain $20 million in BONK. The organization notified law enforcement and is working to recover funds; Upbit temporarily suspended BONK deposits and withdrawals.
Key points
- BonkDAO reported that attackers drained $20 million worth of BONK through a malicious governance proposal.
- The organization said attackers used large token holdings to pass a proposal redirecting coins into their wallets.
- BonkDAO said it identified exchange wallets used to buy BONK before the proposal; crypto news sites reported about $4 million in advance purchases, a figure BonkDAO did not confirm.
- BonkDAO said it notified law enforcement and is working with relevant parties to recover funds and identify those responsible.
- Upbit temporarily suspended BONK deposits and withdrawals after the incident.
Article Details
- Victim Organization
- BonkDAO
- Incident Type
- Cryptocurrency theft through a malicious governance proposal
- Operational Impact
- BonkDAO reported that approximately $20 million worth of BONK was drained. The organization said it notified law enforcement and was working to recover funds and identify those responsible. Upbit temporarily suspended BONK deposits and withdrawals.
- Claim Status
- claimed
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Industries
CryptocurrencyThe decentralized finance organization that oversees BONK cryptocurrency announced Monday that attackers had drained $20 million worth of coins from the project.Decentralized financeThe decentralized finance organization that oversees BONK cryptocurrency announced Monday that attackers had drained $20 million worth of coins from the project.