This is probably the biggest development for 2025! RAIN Coin has a corporate treasury strategy buyer! There’s only 1 Million! 🔥🔥🔥 https://t.co/nG7KuTwGet
99PC just bought RAIN for the first time for the corporate treasury! @GetRainCoin ⛈️⛈️
This is my favorite problem with decentralized voting. Talk about unintended consequences of not thinking your project design through! https://t.co/QlQjDUjs0g
HOW DO YOU STEAL $20 MILLION IN CRYPTO WITHOUT HACKING ANYTHING? YOU BUY THE VOTE
HOW DO YOU STEAL $20 MILLION IN CRYPTO WITHOUT HACKING ANYTHING? YOU BUY THE VOTE
That's exactly what just happened to the memecoin solana:DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263 Here's the play:
BONK is a Solana-based memecoin, governed by a DAO where token holders vote on proposals.
Hold enough tokens, pass a vote, and it executes automatically onchain.
That design was the weapon.
On June 30, an anonymous wallet proposed sending the entire treasury to a wallet it controlled.
To pass, it needed yes votes equal to just 1% of supply.
Over July 4 and 5, a separate wallet bought exactly that much, spending about $4.4 million on BONK across Bybit and Binance, reportedly borrowing more through DeFi.
The vote passed with just seven wallets voting.
More than 18,000 members didn't. Turnout: 2.9%.
The result was 99.9% "yes," effectively one voter agreeing with itself.
The treasury, about $20 million, was drained late Monday.
Now the chase is on.
The attacker has started moving the stolen tokens to exchanges to cash out, while the first exchanges have begun suspending BONK transfers to block the exit.
Recovery is still uncertain.
Happy New Year! BTC price is squeezing between the 50 day sma and the 100 week sma. I really think we'll see our bull trap in the next month or so. If we exit the red zone, we'll start right into it. If the 100 fails, we'll probably sweep the lows and then start.
BTC yearly chart… three green, one red? If I didn’t know anything about this chart, I’d say this is about to reset to the downside. Will this be a doji yearly?
This is the #BTC daily chart. This is what I mean that we’re bouncing up and down between the 50 day and 200 day. Today’s action tagged the 200 pretty precisely. As this squeezes it’ll be less volatile short term. Then explosive as it makes the decision.