News has broken that the Bonk DAO governance attacker has once again deposited a massive amount of BONK into an exchange. The hacker, who previously siphoned funds from the treasury through governance manipulation, has moved a staggering 1.186 trillion tokens to Binance. This amounts to approximately $4.11 million, and following the news, the price of BONK has shown significant volatility, falling more than 28% from its recent peak.

This large-scale deposit flowed into major centralized exchanges like Binance and OKX. The market views this as the hacker beginning to cash out in earnest, leading to heightened anxiety over potential additional selling pressure. The drop feels even more severe given the recent cooling of market sentiment, marked by massive outflows of memecoin funds from exchanges like Binance.

Ultimately, this situation serves as a prime example of how devastating governance security vulnerabilities can be to a token's price. Since the attacker could dump the remaining holdings at any time, it would be wise to keep a close eye on the hacker's wallet movements when trading BONK for the time being.

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