CoinWorld news, a governance attack is a way to exploit a decentralized organization's own voting system. BonkDAO suffered a governance attack on July 6, 2026, where the attacker purchased approximately $4 million worth of BONK tokens, gaining control of nearly 100% of voting power, and eventually legitimately withdrew about $20 million from the DAO's treasury. There was no hacking in this incident; the voting system operated exactly as designed. The characteristic of a governance attack is that it requires no technical skills, only capital and a voting system with weak defenses. As more DAOs, especially memecoin projects with large treasuries, emerge, the frequency of governance attacks is rising.