Latest developments in the BonkDAO hacking incident: US$4.11 million BONK tokens flowed into Binance

BONK token dynamics: Hacker wallets began to sell BonkDAO treasury funds, involving US$20 million.

Previously stole the wallet of BonkDAO treasury and just sent US$4.11 million worth of BONK tokens directly to Binance. For holders still suffering the fallout of a $20 million governance attack, the move raises a troubling question: What happens next? The following will reveal details that most reports haven't mentioned-where the other $15.3 million went and why timing matters.

How is BonkDAO treasury funds today?

On-line monitoring from MLM showed that the wallet that stole approximately US$20 million from the BonkDAO treasury ten days ago is again active. The address has now begun transferring tokens and the position will be transferred out in two installments within two hours. The activity marks the first confirmation that the attacker controls wallets not just hold funds, but are ready for liquidation.

Why transferred 1.19 trillion BONK tokens to Binance?

In the past two hours, approximately 1.19 trillion tokens (worth nearly US$4.11 million) have been transferred to an address associated with Binance. Depositing tokens to a major exchange often means an intention to sell or exchange for other assets. According to the same chain report, the wallet had fully hedged its positions using the coin EY renewal contract before the token entered the exchange-a move that limited the risk of price fluctuations faced by attackers when selling spot.

Where is the remaining 4.4 trillion BONK going?

Another 4.4 trillion tokens (worth approximately $15.3 million) were transferred to a new wallet rather than an exchange. This address (identified on the chain as FhYPjrH12uLaLXFttCHgEKFvBPoN6rztMPs 2E8LWUNJ) has not yet seen any further transfer-out activity. Analysts tracking the wallet believe that this may be a preparatory step before subsequent deposit on the exchange-a model often adopted by large holders to avoid a one-time sell-off that causes prices to plummet.

Why do traders pay close attention to BONK wallet movements?

This is no ordinary whale transfer. The wallet is directly linked to a governance breach incident targeting the Solana Memin BonkDAO community treasury, so every transaction is seen as a signal for the attacker's next move. Community responses on social media expressed concerns about bulk selling and price fluctuations, especially as perpetual contract hedging suggested that this was a planned selling strategy rather than a one-time cash out.

How may the latest BONK transfers affect token prices?

After the treasury attack was first disclosed on July 7, the token has fallen by 9% to 10%. Today, the BONK token price fell 7.29%, with a market value of US$287.85 million and a transaction volume of US$70.38 million. Depositing funds to the exchange again by the same wallet increases the risk of a new round of selling pressure, especially if the remaining 4.4 trillion coins are also transferred to the exchange. Hedging in advance on the coin EY renewal contract means that even if spot prices fall, the attacker's losses will be limited-reducing its incentive to slow selling.

Details of the $20 million BonkDAO governance attack?

The original incident was confirmed on July 7, 2026. Attackers spent approximately $4 million on BONK tokens to gain dominant voting rights on Solana's Realms governance platform. A malicious proposal remained active for six days and attracted only seven wallets to vote-and the attackers controlled about 99.878% of the voting rights. Without a timelock, minimum quorum or multi-signature protection, the low-voting proposal was passed and authorized the transfer of treasury funds worth approximately 4.426 trillion tokens.

What is BonkDAO's stance on the treasury incident?

BonkDAO confirmed that the token itself was not attacked and that user wallets or funds outside the treasury were not affected. The team said it is working with exchanges, Cross-Chain Bridge, the Solana Foundation and law enforcement to track down and possibly recover funds. During the investigation, some exchanges have taken precautionary signs or temporarily suspended BONK's top-ups and withdrawals.

What will happen next after BONK deposits Binsecurity?

The effectiveness of the recovery effort depends on whether the exchange can quickly tag or freeze wallets associated with attackers before more tokens are transferred. At the same time, the DAO community has begun pushing for structural fixes-including timelocks, minimum voting thresholds and multi-signature verification-to prevent similar incidents from happening again.

Key points for BONK token holders to pay attention to

The attacker's wallet has transferred US$4.11 million to Binance and transferred another US$15.3 million to a separate address, while holding a pre-hedged position on the Binance Ernst contract renewal. Given that more than $15 million remains unaccounted for, the next few days may determine whether the token faces further downward pressure.

Summary

The BonkDAO treasury incident has evolved from a governance failure to an active sell-off, and the attacker's deposit behavior shows a clear intention of liquidation. Whether the remaining 4.4 trillion coins will follow the same path to the exchange will likely determine BONK's next price trend.