BONK Attack Wallet Shows Links to Realms Founder in $20 Million Governance Exploit

A wallet tied to the theft of $20 million from Solana-based meme coin BONK through a governance exploit appears to be linked to addresses associated with the founder of governance platform Realms and others.

On-chain security analyst Specter wrote on X on July 7 that his tracing of fund flows showed the Realms founder and an address tied to Cryptonote had previously used the same exchange deposit address as a wallet believed to belong to the attacker, according to Binance News.

The attacker on June 30 submitted a malicious governance proposal that exploited BONK's governance system. The attacker then used about $4 million in voting power to steal $20 million. The proposal was approved on Realms.

Specter also wrote that Cryptonote is known as an early user of BONK and Realms and as the founder of Viper Protocol. One of the wallets linked to the incident was also found to have carried out multiple on-chain transactions with Viper Protocol.