The BONK price dropped around 8% on July 6 after BonkDAO. The decentralized governance body behind Solana’s popular memecoin $BONK, confirmed that a malicious governance proposal drained an estimated $20 million from its treasury. The attacker strategically planned the attack by using DAO’s voting rules to carry out the exploit. The exploiter carted away an
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Matthew Ruthven is a crypto journalist and blockchain strategist with a passion for exploring the intersection of technology, finance, and decentralized governance. With a background in software development and digital economics, he brings a technical yet accessible approach to analyzing the latest trends in cryptocurrency and Web3 innovation.