KuCoin User Manipulates Governance System to Transfer 20 Million BONK

A user purchased 4 million BONK tokens from KuCoin and proposed transferring an additional 20 million BONK to themselves.

The proposal was initially delayed for seven days, but after the waiting period expired, the user voted in favor of the transfer using their own BONK tokens, effectively passing the proposal.

This raises questions about the security and openness of decentralized finance (DeFi) governance systems, as a single individual was able to manipulate the system and approve their own self-serving proposal.