Hacker Continues Selling BONK Tokens After Exploit Draining Trillions

The hacker who extracted 4.426 trillion BONK tokens from the altcoin's treasury is still liquidating the stolen assets, recently offloading 800 billion tokens worth about $2.48 million.

Ongoing Sell-Off Impacts BONK Market

After the exploit on July 6, which granted control over 4.426 trillion BONK tokens valued at approximately $21.2 million, the token's price dropped by roughly 40%. Today alone, the trader sold 800 billion BONK, further pressuring the market and causing an additional 14% decline in the token's value. BONK's market capitalization has shrunk significantly from a peak above $4 billion to $243 million at present.

Remaining Holdings and Altcoin Status

Despite the continued sales, the hacker still retains 2.4 trillion BONK tokens in their wallet, worth around $6.94 million at current prices. BONK, once a leading memecoin in the Solana ecosystem, has faced severe challenges due to the memecoin sector's downturn and this recent cyberattack.

This content is for informational purposes and does not constitute financial advice.