BonkDAO treasury drained of about US$20 million through malicious governance proposal BIP #76
An attacker bought about 1% of BONK supply, passed proposal BIP #76 and drained roughly US$20M of BONK from BonkDAO's treasury on 6 July 2026. No recovery or charges found. Nothing to patch; BONK holders should expect no refund and ignore "recovery" offers.
Nothing to update. If you hold BONK, treat any message offering to recover funds, a refund or a "YES voter" reward as a likely scam, and check news from Bonk's official account only.
What’s happening
On 6 July 2026 an attacker emptied about US$20 million of BONK from the treasury of BonkDAO, the community organisation behind the Solana memecoin BONK. No software bug was involved. The attacker spent about US$4.4 million buying just over 1% of BONK's supply, enough to pass a governance proposal on its own. The proposal, BIP #76, was submitted on 30 June and billed as a reward for YES voters, but it also moved about 4.43 trillion BONK to a wallet the submitter controlled. Analysts say the DAO had no delay between a vote passing and the proposal running, and the 1% quorum let the attacker's own votes carry it, so nobody had time to stop it. BonkDAO said it told law enforcement and is working with others to recover funds. Upbit and Kraken paused BONK deposits and withdrawals. The latest coverage we found, from mid-July, reports no funds recovered or frozen and no one charged. Later developments are not known.
- What
- Breach
- Affects
- BonkDAO treasury and governance (BONK token, Solana)
- Fixed in
- Nothing to patch
- Since
- 6 July 2026
- Closed
- 13 July 2026
Timeline
- Update
Halborn's analysis gave the cause as no timelock and a quorum of only about 1% of supply, so the attacker's own votes carried the proposal with about 99.878% of votes cast. It mentioned no recovery or arrests.
- Update
Rekt reported the stolen funds had been moved to a new three-signer multisig, not a mixer. It said no funds had been frozen or recovered, no one had been charged, and Upbit and Kraken had paused BONK deposits and withdrawals.
- Wider attacksNothing to patch
The vote closed and the treasury was drained in the same block. Rekt reports 4,426,104,450,305 BONK moved, worth roughly US$19.3 million at the time. The attacker had spent about US$4.4 million buying just over 1% of supply, and the rules had no delay between approval and execution.
- Update
The Record reported the attackers voted BONK into their own wallets. It noted BonkDAO had not confirmed the amount the attackers gathered beforehand, and that no recovery had been reported.
- UpdateNothing to patch
Bonk's official account announced a malicious governance proposal had drained an estimated US$20 million. BonkDAO said it had told law enforcement and identified the exchange wallets used to buy BONK beforehand. Upbit temporarily suspended BONK deposits and withdrawals.
- Made public
A proposal called BIP #76, "Sowellian BonkDAO", was submitted to BonkDAO's governance system on Solana. It was presented as a reward for YES voters but contained a hidden instruction to move about 4.43 trillion BONK from the treasury to a wallet the submitter controlled.
Sources
- BonkDAO loses $20 million following malicious governance proposal attackThe Block · 6 July 2026
- Attackers vote themselves $20 million in BONK cryptoThe Record · 6 July 2026
- BonkDAO - RektRekt · 10 July 2026
- Explained: the BonkDAO hack (July 2026)Halborn · 13 July 2026