BonkDAO loses $20 million following ‘malicious governance proposal’ attack
The Block·
60-second summary
BonkDAO is experiencing a significant loss of $20 million due to a malicious governance proposal attack, with the funds being tracked to crypto exchanges. South Korea-based Upbit has suspended BONK deposits and withdrawals, indicating a potential risk to users' assets. This incident highlights the vulnerability of DeFi protocols to malicious activities, impacting investor trust and confidence in the market.
The funds have been tracked to crypto exchanges, and South Korea-based Upbit said it has suspended BONK deposits and withdrawals.