The trader who legally withdrew 4.426 trillion BONK tokens from the BONK treasury through the governance process is reportedly continuing to sell.
According to on-chain data shared via X, the trader in question sold another 800 billion BONK tokens today. The sale is said to be worth approximately $2.48 million.
In the incident on July 6th, the trader gained control of a total of 4.426 trillion BONK tokens from the BONK treasury, worth approximately $21.2 million. Since then, the price of BONK has fallen by about 40%.
According to the shared data, the trader still holds 2.4 trillion BONK tokens in their wallet. This amount is said to be worth approximately $6.94 million at current prices.
BONK, once one of the largest memecoins in the Solana ecosystem, is experiencing difficult times due to the decline in the memecoin movement and the recent cyberattack. The token continued its losses today, experiencing a 14% drop. Having reached a peak market capitalization exceeding $4 billion, the token currently holds a market capitalization of $243 million at the time of writing.
*This is not investment advice.
