Lending protocol Bonzo loses 77% of value locked as $9 million oracle exploit rattles Hedera

CoinDesk·

Lending protocol Bonzo loses 77% of value locked as $9 million oracle exploit rattles Hedera

60-second summary

A $9.05 million oracle exploit is currently affecting Bonzo Lend, a lending protocol on the Hedera network, resulting in a 77% loss of value locked. The attack targeted a verification flaw in a third-party Supra oracle contract, compromising the protocol's security.

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.