The wallet that drained $21.2M worth of BONK from the Bonk treasury via a governance proposal has sent another $𝟭.𝟮𝟴𝗠 to Coinbase, continuing the systematic sell-off. Of the 4.426 trillion BONK ($21.2M) extracted, $𝟱.𝟱𝟴𝗠 has now been moved to centralized exchanges — roughly 26% positioned for selling, with ~$15.6M still pending. BONK has dropped 𝟯𝟲% over 11 days since the drain began, falling from $0.0000047 to $0.000003. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: This is a governance failure — a single proposal drained the entire treasury, and the market is absorbing real selling pressure, not just anticipating it. Each subsequent CEX tranche adds incremental sell pressure on an already weakened token. The remaining ~$15.6M overhang raises questions about BONK's governance security and could dent broader Solana meme coin sentiment. Wallet tracked on Arkham: https://arkm.com/explorer/address/FhYPjrH12uLaLXFttCHgEKKFvBPoN6rztMPs2E8LWUNJ source: EmberCN Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=1456(Hupzy (Spot On Chain))