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

Web3 Lending protocol Bonzo loses 77% of value locked as $9 million oracle exploit rattles Hedera 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. By Francisco Rodrigues | Edited by Nikhilesh De Jul 11, 2026, 6:06 p.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show 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. The attacker deposited low-value SAUCE tokens and submitted a manipulated price update to inflate the tokens' value, enabling them to borrow assets well beyond their collateral. Following the exploit, Hedera's total value locked (TVL) fell by nearly 40% in 24 hours, while Bonzo's TVL plummeted by 77%. Bonzo Lend, a decentralized lending protocol on the Hedera network, suffered an estimated $9.05 million loss after an attacker exploited a verification flaw in a third-party Supra oracle contract, allowing them to borrow assets far exceeding the value of their collateral. The attacker deposited 250 SAUCE tokens with little value, before submitting a manipulated price update that inflated the token’s HBAR-denominated value, according to a preliminary incident report from Bonzo. The protocol said the account subsequently borrowed 6.63 million USDC and 34.52 million wrapped HBAR. At the report’s reference HBAR price of $0.06998, the two withdrawals were worth approximately $9.05 million. A second wallet, the report adds, borrowed roughly $1 million of additional assets while the abnormal price remained active. The wallet later contacted Bonzo through Discord, identified itself as a white-hat responder to the incident and said 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, according to DeFLlama data , now has $25.7 million in total value locked (TVL). The figure dropped nearly 40% in the last 24 hours after the exploit. With Bonzo’s TVL Web3 Crypto News Latest Crypto News 1 Crypto IPO market stalls as capital rotates to AI and macro uncertainty weighs 59 minutes ago 2 The UK has finally shown it’s serious about crypto 3 hours ago 3 Bitcoin treasury company Empery Digital sold about half of its BTC stack 5 hours ago 4 AI found an Ethereum bug that could take validators offline, but humans had to prove it 6 hours ago 5 Bitcoin analysts predict $300,000–$500,000 price in 2029. The math says no 15 hours ago 6 Meta's Chief Data Officer Says Agentic Commerce is the "Next Tier of Business" 20 hours ago 7 U.S. government digital dollar set to be banned tonight under housing law's CBDC limit Jul 10, 2026 8 Hyundai becomes first major South Korean company to introduce internal stablecoin transfers Jul 10, 2026 9 OKX, MetaMask, Matter Labs back dispute resolution court for AI agents Jul 10, 2026 10 Circle soars after securing U.S. trust bank approval in crypto expansion Jul 10, 2026 Latest Research Digital Assets: Quarterly Review and Outlook Q2 Digital Assets: Quarterly Review and Outlook Q2 Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch. By CoinDesk Research Jul 10, 2026 Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch. Why it matters : Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch. View Full Report More From Web3 BNB Chain is building a new layer-1 for high-frequency trading and AI agents DeFi protocol Summer.fi halts Lazy Summer vaults after $6 million exploit Mysterious Solana project World unveiled as fully onchain prediction market