The post BONK Price Falls After BonkDAO Treasury Loses $20 Million in Governance Attack appeared on BitcoinEthereumNews.com.
A single wallet gained enough voting power to approve a $20 million BONK treasury transfer. BonkDAO confirmed the governance proposal resulted in the loss of 4.42 trillion BONK tokens. BONK price declined 10% after the treasury incident and traded near $0.000004260.. BONK faced selling pressure after BonkDAO confirmed that a wallet used its governance system to transfer approximately $20 million worth of treasury tokens. The incident involved a malicious proposal that received enough votes to execute the transfer without intervention from the wider community. Notably, blockchain analysts found that the wallet accumulated voting power before the proposal passed, using purchased BONK tokens and borrowed funds to influence the governance outcome. The event shifted attention toward the risks associated with token-based voting systems. Wallet Gains Control of BonkDAO
The post Did Ansem Buy Cash Cat (CASHCAT)? $233,000 Wallet Move Raises Questions appeared on BitcoinEthereumNews.com.
A wallet named Ansem-2 spent $233,000 to buy 2.79 million Cash Cat (CASHCAT) tokens within three hours. On-chain data links the wallet to a Solana address tied to trader Ansem (@blknoiz06). The Solana address, CLM6E4zpTviEC77nWKogpVLQoXx9tgoQCYJ8NibxKg1Q, holds 10.5 million The Black Bull (ANSEM) tokens. It has generated roughly $2.6 million in past ANSEM profits. Ansem has not confirmed any link to the purchase. A Fast, Targeted CASHCAT Buy Blockchain analytics firm Lookonchain flagged the transaction on July 8. The wallet, labeled “Ansem-2” and starting with 0x6f5b, moved quickly, accumulating 2.79 million CASHCAT tokens in under three hours. Did Ansem(@blknoiz06) buy $CASHCAT? A wallet (0x6f5b) named “Ansem-2” spent $233K to buy 2.79M $CASHCAT over the past 3 hours. The wallet is linked to the Solana wallet CLM6E4, which currently holds 10.5M $ANSEM ($2.7M) and has m
The integration of perpetual futures in Solana wallets could drive increased DeFi activity and attract diverse market participants, boosting network growth.
The post Solana wallet to integrate perpetual futures, boosting DeFi capabilities appeared first on Crypto Briefing.
The post SpaceX Bitcoin Wallet Wakes Up With a Tiny Transaction: What’s Next? appeared on BitcoinEthereumNews.com.
A tagged SpaceX Bitcoin address has moved funds for the first time in months, raising speculation about whether a larger transfer could follow. Arkham Intelligence reported today that a SpaceX-tagged wallet has made a small test transaction after roughly six months of being inactive. The address, identified as SpaceX (15atF), sent about $88 worth of BTC to another wallet that begins with bc1q9. The transaction itself is very minor, but the market is starting to pay attention because corporate-linked Bitcoin wallets rarely move BTC without a reason. Small transactions are usually used to test address control or custody setup. SPACEX JUST MOVED BITCOIN A tagged SpaceX address just moved Bitcoin for the first time in 6 months. SpaceX (15atF) made a test transaction of $88 of BTC to SpaceX (bc1q9). Is SpaceX about to move more BTC? pic.twitter.com/vQITSDKtGI — Arkham (@arkh
The post BONK Treasury Vote: DAO Governance Risk Returns appeared on BitcoinEthereumNews.com.
So here we are again. Not a smart contract exploit in the classic sense, but a rules-as-written treasury drain that sailed through governance because nobody showed up. If you hold meme tokens with DAOs attached to them, this is the wake-up call. The BONK saga isn’t just a one-off. It shows how cheap it can be to buy enough votes, meet quorum, and walk out with a treasury haul if a community is disengaged. The fix isn’t magical. It’s mostly better parameters, better process, and people actually voting.
Aspect
What to Know
What happened
An anonymous wallet filed a proposal to move roughly 4.426 trillion BONK from the BonkDAO treasury to their own wallet, and it passed with minimal turnout, triggering an automatic transfer (CoinCentral).
How it was executed
The attacker reportedly spent about $4.4 million buying roughly 882.285 billion BONK on centralized exchanges to
The post BONK Treasury Loses $20M to Malicious Governance Vote appeared on BitcoinEthereumNews.com.
BONK News South Korea’s three largest digital-asset exchanges — Upbit, Bithumb and Coinone — placed BONK, the Solana-based meme coin, under a formal trading-caution designation on July 7. The exchanges’ official announcements state the flag took effect at 4:00 p.m. local time and runs through the first week of August, citing an unresolved security incident and the inadequate disclosure of material information. The coordinated action followed the draining of roughly 20 million dollars in BONK from the project’s decentralized treasury. Under the designation, each platform will conduct an additional review that could end in reinstatement or a full delisting, leaving holders facing weeks of uncertainty around the token’s exchange standing. On-chain data shows the exploit was executed entirely through legitimate transactions. An anonymous actor spent roughly 4.4 million dollars accumulating B
The post Someone Stole $21M From BonkDAO Without Hacking Anything appeared on BitcoinEthereumNews.com.
An attacker has stolen $21.2 million from the BonkDAO treasury without hacking anything. He purchased BONK tokens for $4.4 million, proposed via the governance forum that nobody checked for seven days. He voted yes for the proposal with his own tokens, and watched the funds move to his wallet automatically. Once executed, it was irreversible. In a few hours, BONK price has dropped approximately 6.59% with 955.47 billion volume. The token went from a high near 0.00000490 to 0.00000417 as the news spread. Market cap lost approximately $40 million and some exchanges halted BONK withdrawals. BONK price has dropped approximately 6.59% Details of the BonkDAO Steal The proposed name for the project was BIP #76, Sowellian BonkDAO. It talked about governance improvements, asset monetization, and rebuilding the token, but it didn’t explain what this meant in concrete terms. The transaction con
