Svmuu News: On-chain security firm Specter has released the preliminary findings of its investigation into the BONK DAO governance attack. After tracing the on-chain fund flows, the firm discovered a significant point of suspicion: there are traces of fund transfers between addresses associated with the founder of Realms and Crypto Notte, and the wallet of the suspected attacker.
According to the investigation, the attacker submitted a malicious governance proposal on June 30, with the proposal’s approval threshold set at 1% of BONK’s total circulating supply in voting power; From July 4 to 5, the attacker acquired sufficient voting weight—totaling approximately $4 million—by purchasing coins on exchanges and borrowing through Marginfi, thereby pushing the proposal through and completing the governance attack.