Specter reveals clues about the governance attack on BONK DAO, founder of Realms' funds suspected to be linked to the attacker

On-chain security agency Specter released preliminary investigation results on the BONK DAO governance attack. After tracing the on-chain fund flow, important suspicions were discovered: the founder of Realms, addresses related to Crypto Notte, and the suspected attacker’s wallet showed traces of fund transactions.

According to the review, the attacker released a malicious governance proposal on June 30, with a proposal approval threshold of 1% of the total circulating supply of BONK voting rights. From July 4 to 5, the attacker acquired sufficient voting weight of approximately 4 million USD through purchasing coins on exchanges and borrowing from Marginfi, facilitating the proposal's implementation and completing the governance attack.