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An attacker spent roughly $4.4 million to buy just over 1% of BONK supply and passed a proposal that transferred about $20 million from the treasury on July 6. BONK DAO confirmed the drain and is working with exchanges and the Solana Foundation.
CoinDeskNom compared memecoin trading to high-risk sports betting and said most projects lack regulatory staying power. BONK has pursued traditional finance links through a Nasdaq-listed holding company, a proposed leveraged ETF and treasury allocations. The token launched as a no-presal…