Through a governance proposal exploit, the "hacker" drained the Bonk treasury, depositing the remaining $1.17 million BONK into Coinbase.

BlockBeats News, July 20th, according to Embermonitor, the "hacker" who drained the Bonk treasury through a governance proposal has completed the selloff of 44.26 trillion BONK. Just 30 minutes ago, the remaining 400 billion BONK (US$1.17 million) in their possession was also deposited into Coinbase.

With this transaction, the 44.26 trillion BONK they withdrew from the Bonk treasury 13 days ago has now all been moved to a centralized exchange (CEX). Due to their selling pressure in recent days, the BONK price dropped by 40%. When they initially took these BONK tokens, they were worth $21.2 million. Considering the price drop during these days of selling, the final amount they cashed out should be around $13.58 million.