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Bonzo Finance’s Hedera lending pool was drained of $9 million via a manipulated oracle, wiping 77% of its TVL and triggering a near‑40% drop in Hedera’s total
Bonzo Finance confirmed that an attacker exploited a third‑party Supra oracle on Hedera on July 11, borrowing roughly $9.05 million against a $250 SAUCE token deposit, slashing the protocol’s value‑locked by 77% and sending Hedera’s overall TVL down almost 40% in 24 hours【2】.
| At a glance | |
|---|---|
| Loss | $9.05 million |
| TVL drop (Bonzo) | –77% |
| Hedera TVL fall | –≈40% in 24 h |
| Catalyst | Supra oracle price manipulation |
The attacker first deposited 250 SAUCE tokens—worth only a few dollars—as collateral, then fed a falsified price update to the Supra oracle, inflating the token’s value by about twelve orders of magnitude. Within seconds the attacker borrowed 6.63 million USDC and 34.52 million wrapped HBAR (WHBAR), equivalent to $9.05 million at the report’s reference HBAR price of $0.06998【2】. A second wallet seized an additional $1 million before the price feed was corrected; its operator later identified as a white‑hat responder promising to return the funds【1】.
DefiLlama recorded three hacks in July 2026 totalling over $28 million, with the Bonzo incident contributing the largest single loss. Hedera’s total value locked fell to $25.7 million, a near‑40% contraction from the previous day【2】. The broader DeFi sector has seen a 39% TVL decline from January to June 2026, and Q2 2026 became the most‑hacked quarter on record with 83 exploits and $755 million stolen【3】. These trends suggest heightened risk perception and potential capital outflows from platforms perceived as vulnerable.
The hack underscores the systemic risk posed by third‑party oracle dependencies in DeFi, especially on newer chains like Hedera, and raises questions about the resilience of lending protocols that rely on external price feeds.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 12, 2026 · How we report
BillsOnChain is a Web3 platform that turns physical receipts into tokenised digital assets on Hedera's distributed ledger, providing immutable storage, auditability, and the ability to mint NFTs.
The platform reports scanning more than 830,000 bills and minting over 430,000 NFTs using Hedera's network.
An attacker exploited a verification flaw in a third‑party Supra oracle contract, inflating token prices and borrowing assets worth about $9.05 million.
Hedera's total value locked dropped by nearly 40% within 24 hours after the exploit.
The sources present both significant adoption use cases and a notable security incident, resulting in a neutral overall sentiment.