Hedera's top lending protocol Bonzo Lend loses $9M in oracle exploit

Bonzo Lend, the largest decentralized lending protocol on the Hedera blockchain, has announced a loss of approximately $9.05 million from an oracle vulnerability exploit. According to Bonzo, a flaw in the signature verification process of its oracle provider, Supra, allowed an attacker to manipulate the price of a source token. This enabled the attacker to borrow assets far exceeding the value of their deposited collateral. The protocol has been temporarily suspended to prevent further losses. Bonzo Labs and the Bonzo Finance Foundation stated they are working closely to devise recovery and compensation measures.