Yu Jin: BonkDAO Attacker Spent $4.4M to Buy Enough Votes, Malicious Proposal Passed to Transfer $21.2M BONK

CoinFeed July 7 news, according to on-chain analyst Yu Jin's monitoring, the BonkDAO attacker spent $4.4 million to buy enough BONK tokens to meet the governance voting threshold, then launched a governance attack proposal and voted, transferring $21.2 million worth of BONK from the treasury. The attacker first initiated a governance proposal: On June 30, a proposal was first launched on the governance platform, proposing to transfer 4.426 trillion BONK ($21.2 million) from the treasury to a wallet controlled by them. Buying tokens to vote: The proposal required a minimum of 1% of tokens, i.e., 879.95 billion BONK, to vote in favor.