Bonk (BONK) remained under pressure on Tuesday, extending losses after a sharp decline triggered by a major security breach at BonkDAO. The Solana-based memecoin was trading below $0.0000045 after dropping more than 10% in the previous session, as investors reacted to news that approximately $20 million worth of BONK tokens had been stolen from the DAO’s treasury through a malicious governance proposal. The exploit has dented market confidence and raised concerns about additional downside if the stolen tokens are sold on the open market. Malicious governance proposal drained BonkDAO treasury According to Bonk’s official X account, attackers successfully pushed through a fraudulent governance proposal, enabling unauthorized access to the BonkDAO treasury. https://twitter.
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