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anchored·4R5EkK…aUZBSummary
BonqDAO was a Polygon-based decentralized lending protocol that launched in December 2022, offering zero-interest borrowing against crypto collateral with a native euro-pegged stablecoin (BEUR). On February 1, 2023, the protocol suffered a critical oracle manipulation exploit in which an attacker staked approximately $175 worth of TRB tokens to manipulate the Tellor price feed for the WALBT collateral token, minting 100 million BEUR against near-zero collateral and liquidating other users for an additional 113 million WALBT, resulting in nominal losses of approximately $120 million. BonqDAO's TVL fell by over 99% following the attack; a successor protocol (3A DAO) was subsequently launched by the team but BonqDAO itself remains effectively defunct.
Connected Entities
4 entities · 60 linked investigations- BonqDAO→mentioned with→Polygon(70%)
- BonqDAO→mentioned with→Ethereum(65%)
- BonqDAO→mentioned with→Nexera(60%)
- Nexera→mentioned with→Ethereum(70%)
- Nexera→mentioned with→BonqDAO(80%)
- Polygon→mentioned with→Ethereum(70%)
Timeline(9 events)
15 December 2022
BonqDAO launches on Polygon as a zero-interest lending protocol with BEUR euro-pegged stablecoin.
February 2023
Attacker (0xcacf2d28b2a5309e099f0c6e8c60ec3ddf656642) manipulates TellorFlex oracle for WALBT, minting 100 million BEUR and liquidating 30+ user troves to collect 113.8 million WALBT. Nominal losses estimated at $120 million.
February 2023
AllianceBlock pauses bridge activity and issues public statement clarifying its own contracts were not breached. ALBT token price falls more than 51%.
3 February 2023
Attacker begins laundering approximately 1,105 ETH through Tornado Cash. BEUR falls to $0.15 low.
3 February 2023
BonqDAO's TVL falls from approximately $13 million to under $44,000 — a 99.6% decline.
27 February 2023
BonqDAO launches community governance vote on protocol recovery plan.
5 March 2023
BNQ governance vote concludes with community support for reboot and executive team. AllianceBlock begins ALBT airdrop compensation for affected users.
17 May 2023
Team publishes announcement of 3A DAO as successor lending protocol, describing the relaunch journey.
16 February 2024
3A DAO announces collaboration with Constellation Network (DAG), indicating continued successor protocol development.
Decision Log
- hash: EF2QLJSgSdSic7apfiMbCroGhH8j1z95H63P99Hie3Q7
This investigation is cryptographically anchored to the Solana blockchain (1 event). 13 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:44 AM
last updated: 8/29/2026, 1:34:23 AM
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