On-chain security researcher Specter said an initial review of the BONK DAO governance attack found notable on-chain links involving addresses tied to the suspected attacker. According to Specter, both the founder of Realms and Crypto Notte were found to have on-chain fund exposure to addresses associated with the suspected attacker.
Specter said the attacker created a malicious governance proposal on June 30, 2026 through a certain address. The proposal required support representing 1% of BONK’s circulating supply in voting power in order to pass.
He added that the attacker later obtained the needed voting power between July 4 and July 5 through exchange purchases and borrowing on marginfi. The borrowing portion was about $4 million. The statement was reported by ChainCatcher.
Initial probe points to on-chain links
ChainCatcher reported that on-chain security watcher Specter said an initial investigation into the BONK DAO governance attack found notable on-chain connections. According to Specter, both the founder of Realms and Crypto Notte had on-chain fund exposure to addresses linked to the suspected attacker.
How the voting power was assembled
Specter said the attacker used a certain address to create a malicious governance proposal on June 30, 2026. The proposal required voting support equal to 1% of BONK’s circulating supply to pass.
He said the attacker then acquired the required voting power between July 4 and July 5 through purchases on exchanges and borrowing on marginfi. The borrowing size was about $4 million.
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