Woofun AI reports that on-chain analyst EmberCN disclosed details of a governance attack on the BONK protocol. An address initiated a proposal on June 30 to transfer 4.426 trillion BONK, valued at approximately $21.2 million, from the bonk_inu treasury to a controlled wallet (9bxW...JHvQ). The proposal required support from at least 1% of the total supply, or 879.95 billion BONK, to pass.

Over two days, the attacker withdrew 882.285 billion BONK, worth $4.4 million, from Binance and Bybit to cast votes in favor, surpassing the approval threshold. The proposal executed automatically yesterday afternoon, moving the treasury funds to the 9bxW...JHvQ wallet. Subsequently, the address transferred 40 billion BONK ($190,000) to OKX and 4.386 trillion BONK ($18.64 million) to address EXaJ...eh42.