BONK DAO Attacker Moves Another $1.19M to Coinbase as Price Slides 7%
The wallet address responsible for the $21.2 million $BONK DAO governance attack has deposited an additional 400 billion $BONK tokens, valued at approximately $1.19 million, into the Coinbase exchange, according to blockchain monitoring service EmberCN. The deposit triggered a further 7% decline in $BONKs price, compounding losses for token holders already reeling from the breach. Ongoing Fallout from the $BONK DAO Attack The attack, which occurred in late July 2024, exploited a vulnerability in the $BONK DAOs governance mechanism, allowing the attacker to drain 5.4 trillion $BONK tokens—worth $21.2 million at the time—from the DAO treasury. Since then, the attacker has been methodically moving small tranches of the stolen tokens to centralized exchanges, likely in an attempt to liquidate them without causing excessive slippage. This latest deposit brings the total moved to Coinbase to over 1.2 trillion $BONK. According to CoinMarketCap data, $BONK is currently trading at $0.00000293, down 8.74% over the past 24 hours. The token has lost more than 30% of its value since the attack was first disclosed, as investor confidence in the projects security has eroded. South Korean Exchanges Suspend $BONK Services Adding to the pressure, major South Korean cryptocurrency exchanges Upbit and Bithumb have temporarily suspended $BONK deposits and withdrawals









