The wallets tied to the BONK governance incident have reportedly moved another 400 billion BONK to Coinbase, lifting the cumulative amount of BONK routed to centralized exchanges to 1.626 trillion tokens, according to on-chain tracking of the addresses involved.
The latest movement was flagged by blockchain monitoring account Lookonchain, which has been tracking the flow of tokens connected to the BONK governance episode, in a post on X. The figures should be treated as reported rather than fully confirmed, given the reliance on a single social-post source trail.
BONK attackers move another 400 billion tokens to Coinbase
The newest transfer of 400 billion BONK went to Coinbase, according to the tracking data. That deposit brings the running total sent to centralized exchanges to 1.626 trillion BONK, indicating a series of movements rather than a one-off transaction.
The receiving address activity can be inspected directly through the associated Solana account on Solscan, which shows the token balance changes tied to the addresses under scrutiny. This follows an earlier reported pattern in which BONK treasury-linked funds were routed through a governance proposal and sent to Binance.
Why the Coinbase destination matters
Coinbase is named as the receiving exchange for the latest tokens. Deposits to a major exchange are closely watched because they are often a precondition for selling, since assets generally must sit on an exchange before they can be liquidated into the order book.
A transfer to an exchange does not, by itself, prove that any selling has occurred. On-chain movement and confirmed exchange sales are separate events, and the tracking data referenced here shows only the deposits, not any subsequent trades.
Because the research trail does not include verified price, volume, or market-cap figures, any market impact can only be framed qualitatively. Traders monitoring the situation are watching whether the deposited balances are drawn down over time, a pattern also scrutinized in other large transfers such as a recent 30,000 ETH sale routed through an OTC desk.
What remains unverified
The underlying research carries only partial verification and low confidence, and the primary source is a Lookonchain social post rather than an official statement. Readers should weigh the claims accordingly.
Several elements remain unconfirmed: the identity of the parties behind the wallets, the exact method used in the governance incident, and the final disposition of the funds once they reach Coinbase. The episode has been characterized as governance-related, echoing how earlier BONK movements were tied to a Realms DAO proposal, but the specifics of the latest transfer have not been independently confirmed.
How the transfer fits the broader timeline
The 400 billion BONK deposit is distinct from the 1.626 trillion cumulative total. The gap between the single transfer and the running tally implies multiple prior movements to centralized venues, consistent with the earlier reported deposit to Binance.
Beyond that cumulative framing, no verified timeline of exact timestamps or wallet histories is available in the current research, so a precise chronology cannot be reconstructed here. Governance-driven fund movements have drawn similar attention elsewhere, including debates over how Uniswap governance proposals would direct protocol fees.
FAQ
Does a Coinbase deposit confirm a sale? No. It shows tokens arriving at an exchange address; actual selling would require separate trade execution that the tracking data does not establish.
What does the 1.626 trillion BONK figure represent? It is the reported cumulative amount of BONK sent to centralized exchanges across multiple transfers, not the size of any single move.
What should holders watch next? Confirmation from on-chain trackers and any official statements, along with whether the deposited balances are drawn down, which would be visible through the exchange addresses on Solscan.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
