Bonk Treasury Drain Addresses Liquidated, Yielding $13.58M
2026-07-20 16:57

Woofun AI reports that the address responsible for withdrawing 4.426 trillion BONK tokens from the treasury through a governance proposal has completed liquidating its position. The final 400 billion BONK tokens, valued at approximately $1.17 million, were transferred to Coinbase, marking the complete offloading of assets withdrawn 13 days prior. This sustained selling pressure triggered a 40% decline in BONK's price. Although the initial withdrawal was valued at roughly $21.2 million, the realized cash proceeds amounted to approximately $13.58 million due to the falling asset price.

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BONK
Bonk
Coinbase
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