Lending protocol Bonzo loses 77% of value locked as $9 million oracle exploit rattles Hedera
Bonzo Lend lost approximately $9.05 million after an attacker exploited a verification flaw in a third-party Supra oracle contract on the Hedera network....
Key takeaways
- 1Bonzo Lend lost $9.05 million after attacker exploited Supra oracle verification flaw on Hedera network.
- 2Attacker deposited low-value SAUCE tokens, manipulated price data, and borrowed 6.63 million USDC and 34.52 million wrapped HBAR.
- 3Bonzo's total value locked plummeted 77% while Hedera's TVL fell 40% within 24 hours post-exploit.
Coins in this story
Why it matters
Oracle vulnerabilities expose critical risks in DeFi protocols, especially on emerging networks like Hedera, potentially eroding investor confidence and highlighting security gaps that regulators and Indian retail investors must monitor before entering such platforms.
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