Bonzo Lend experienced a loss of around $9.05 million due to an exploit of a verification vulnerability 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 readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Bonzo Lend experienced a loss of around $9.05 million due to an exploit of a verification vulnerability in a third-party Supra oracle contract on the Hedera network.
- The perpetrator deposited low-value SAUCE tokens and submitted a manipulated price update, inflating the tokens' value, which allowed them to borrow assets significantly exceeding their collateral.
- In the aftermath, Hedera's total value locked (TVL) decreased by nearly 40% within 24 hours, while Bonzo's TVL dropped by 77%.
Bonzo Lend, which operates as a decentralized lending protocol on the Hedera blockchain, faced an estimated loss of $9.05 million following an exploit that took advantage of a verification flaw in a third-party Supra oracle contract. This flaw enabled the attacker to borrow assets far exceeding the value of their collateral.
According to a preliminary incident report from Bonzo, the attacker deposited 250 SAUCE tokens, which were of minimal value, and then submitted a manipulated price update that artificially inflated the token's HBAR-denominated value.
This led to the account borrowing 6.63 million USDC and 34.52 million wrapped HBAR, which, based on the HBAR price of $0.06998 at the time, amounted to approximately $9.05 million.
Additionally, another wallet borrowed about $1 million in assets while the inflated price was still active. This second wallet later identified itself as a white-hat hacker via Discord and expressed intentions to return the funds.
Bonzo excluded these assets from their overall loss calculation, estimating the total amount borrowed during the incident to be around $10.06 million prior to any recovery.
As reported by DeFLlama data, Hedera's total value locked now stands at $25.7 million. This figure represents a nearly 40% drop in the last 24 hours following the exploit. At the same time, Bonzo’s TVL
Web3Crypto NewsLatest Crypto News- 1Crypto IPO market stalls as capital rotates to AI and macro uncertainty weighs1 hour ago
- 2The UK has finally shown it’s serious about crypto 4 hours ago
- 3Bitcoin treasury company Empery Digital sold about half of its BTC stack6 hours ago
- 4AI found an Ethereum bug that could take validators offline, but humans had to prove it7 hours ago
- 5Bitcoin analysts predict $300,000–$500,000 price in 2029. The math says no16 hours ago
- 6Meta's Chief Data Officer Says Agentic Commerce is the "Next Tier of Business"21 hours ago
- 7U.S. government digital dollar set to be banned tonight under housing law's CBDC limitJul 10, 2026
- 8Hyundai becomes first major South Korean company to introduce internal stablecoin transfersJul 10, 2026
- 9OKX, MetaMask, Matter Labs back dispute resolution court for AI agentsJul 10, 2026
- 10Circle soars after securing U.S. trust bank approval in crypto expansionJul 10, 2026
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, marking 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 ResearchJul 10, 2026Digital assets posted a third consecutive quarter of losses in Q2 2026, marking 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, marking 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 ReportMore From Web3