Bonzo Lend reports $9.05 million loss after oracle exploit on Hedera

com reported. The attacker deposited 250 SAUCE tokens with little value before submitting a manipulated price update that inflated the token’s HBAR-denominated value. The account then borrowed 6.63 million USDC and 34.52 million wrapped HBAR.

At the report’s reference HBAR price of $0.06998, those withdrawals totaled roughly $9.05 million. A second wallet borrowed about $1 million in additional assets while the abnormal price remained active. That wallet contacted Bonzo through Discord, identified itself as a white-hat responder, and stated it intended to return the funds.

Bonzo excluded those assets from its headline loss estimate, placing total principal borrowed during the incident at approximately $10.06 million before recovery. Hedera’s total value locked fell by nearly 40 percent in the 24 hours after the exploit, according to DeFiLlama data cited by coindesk.com. The network now holds $25.

Bonzo’s own total value locked dropped 77 percent. Bonzo Lend operates as a decentralized lending protocol on the Hedera network.