BONK Trader Sells 800 Billion Tokens After July 6th Treasury Withdrawal

A trader who withdrew 4.426 trillion BONK tokens from the BONK treasury through a governance process sold another 800 billion BONK tokens today, worth approximately $2.48 million according to on-chain data. The sales follow the July 6th incident where the trader gained control of tokens worth approximately $21.2 million from the treasury. BONK price has fallen about 40% since the July 6th withdrawal, with the memecoin experiencing a 14% drop today amid declining memecoin market activity and the impact of the governance exploit.

Trader Withdrew 4.426 Trillion BONK via Governance Process on July 6th

On July 6th, the trader gained control of a total of 4.426 trillion BONK tokens from the BONK treasury. The withdrawal occurred through the governance process and the tokens were worth approximately $21.2 million at the time of the incident. According to on-chain data shared via X, the trader legally executed the withdrawal through established governance mechanisms.

Trader Still Holds 2.4 Trillion BONK Tokens Worth $6.94 Million

According to shared data, the trader currently holds 2.4 trillion BONK tokens in their wallet. This amount is worth approximately $6.94 million at current prices. The trader has sold portions of the originally withdrawn 4.426 trillion tokens through multiple transactions, with today's sale of 800 billion BONK being the latest reported transaction.

BONK Price Dropped 40% Since July 6th Incident

BONK price has fallen approximately 40% since the July 6th treasury withdrawal. The token experienced a 14% drop today, continuing its losses. BONK, once one of the largest memecoins in the Solana ecosystem, reached a peak market capitalization exceeding $4 billion. The token currently holds a market capitalization of $243 million at the time of writing.

FAQ

How did the trader withdraw 4.426 trillion BONK tokens from the treasury?

The trader withdrew 4.426 trillion BONK tokens from the BONK treasury through the governance process on July 6th. The withdrawal was executed legally through established governance mechanisms, and the tokens were worth approximately $21.2 million at the time of the incident.

How much BONK does the trader still hold after today's sale?

According to on-chain data, the trader still holds 2.4 trillion BONK tokens in their wallet after today's sale of 800 billion tokens. This remaining amount is worth approximately $6.94 million at current prices.