Governance Attacker Transfers BONK Again, Cumulative Cash-Out Exceeds $4 Million in 10 Days

TechFlow news, July 17: According to monitoring by on-chain analyst Yu Jin (@EmberCN), the address that previously drained the BONK treasury through a governance attack transferred another 1.186 trillion BONK (approximately $4.11 million) to Binance 3 hours ago.

Reviewing the course of events: 10 days ago, this address spent approximately $4.4 million to purchase enough BONK tokens to reach the governance voting approval threshold, subsequently initiated a governance proposal and forced its passage, transferring 4.426 trillion BONK (valued at approximately $21.2 million) from the BONK treasury. On the day of the incident, it had already transferred 40 billion BONK (approximately $190,000) to OKX, with the remaining tokens staying on-chain. As of now, approximately 3.2 trillion BONK (approximately $10.98 million) of the BONK drained from the treasury remains.

Due to the continuing impact of this incident, the BONK price has cumulatively fallen 28% since the incident (from $0.0000047 to $0.0000034).