Bonzo Lend hacked for $9M after oracle glitch on Hedera

Bonzo Lend reported a significant security breach today after an attacker drained $9 million from its protocol. The theft took place on the Hedera network by targeting a flaw in the Supra onchain oracle verifier.

By manipulating the reported value of SAUCE tokens used as collateral, the attacker was able to trick the system into allowing unauthorized borrows. The protocol has since paused its operations to assess the damage and identify the root cause of the price feed failure.

This incident highlights the ongoing risks associated with relying on external data feeds for lending protocols. Investors should watch for updates from the Bonzo Lend team regarding potential recovery plans or security audits as the situation unfolds.