BONK DAO lost $20 MILLION without being hacked.

Here's what happened:

- An attacker bought ~$4M of BONK tokens.

- They created a fake governance proposal to send 4.4 trillion BONK ($20M) to their own wallet.

- The proposal went unnoticed for 7 days.

- At the last minute, they used their voting power to approve it.
The DAO automatically sent the tokens.

- The attacker sold them, turning $4M into $20M.

This wasn't a smart contract hack, the attacker simply bought enough voting power to approve a malicious proposal.

BONK DAO says it has notified law enforcement and is working to recover the funds.
#BONK$ $BONK ‌