🚨 Bonzo Lend loses $9M in oracle exploit on Hedera
Bonzo Lend, a lending protocol on Hedera, fell victim to an oracle manipulation attack that resulted in $9 million in losses. An attacker exploited a flaw in Supra's on-chain oracle verifier to artificially inflate the value of SAUCE collateral.
The exploit allowed the attacker to borrow $9 million against the inflated collateral. The vulnerability highlights risks in oracle-dependent DeFi protocols, where price feed manipulation can lead to significant fund losses.
📰 Source: Cointelegraph
#Security #Hedera #DeFi #Oracle #Exploit
Bonzo Lend, a lending protocol on Hedera, fell victim to an oracle manipulation attack that resulted in $9 million in losses. An attacker exploited a flaw in Supra's on-chain oracle verifier to artificially inflate the value of SAUCE collateral.
The exploit allowed the attacker to borrow $9 million against the inflated collateral. The vulnerability highlights risks in oracle-dependent DeFi protocols, where price feed manipulation can lead to significant fund losses.
📰 Source: Cointelegraph
#Security #Hedera #DeFi #Oracle #Exploit