Bonzo Lend Loses $9M in Oracle Exploit on Hedera Network
DeFi lending protocol Bonzo Lend lost over $9 million after an attacker exploited a vulnerability in a third-party Supra oracle contract on Hedera.
Bonzo Lend, a decentralized lending protocol built on the Hedera network, has lost approximately $9.05 million after an attacker exploited a verification flaw in a third-party Supra oracle contract. The incident caused the protocol's total value locked (TVL) to plummet by 77%.
According to security analysts, the exploit targeted a weakness in the Supra price oracle, which is used by Bonzo Lend to fetch accurate asset prices. The attacker manipulated the oracle feed to drain funds from the protocol's liquidity pools.
Impact and Response
The exploit has rattled the Hedera ecosystem, with Bonzo Lend's TVL dropping from over $11 million to roughly $2.6 million. The project team has advised users to revoke contract approvals and withdraw any remaining assets immediately.
Both Hedera and Supra are investigating the incident. This case underscores the critical importance of oracle security in decentralized finance, as third-party oracles remain a common vector for large-scale exploits.