BonkDAO hacked for $20M in BONK tokens via malicious governance proposal

BonkDAO, the organization overseeing the BONK meme token on Solana, lost approximately $20 million in BONK tokens due to a malicious governance proposal. The attack exploited vulnerabilities in decentralized governance structures rather than smart contracts, causing BONK to slide 8%. Developers have informed law enforcement and are working to identify the perpetrators and recover the funds. This incident highlights a critical need for stronger security measures to protect investor assets within the DAO ecosystem.