![\"Bonzo](\"https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-image-for-evergreenguide-about-iota-price-prediction-1.jpg\")
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An attacker inflated the value of SAUCE collateral and borrowed $9 million from Bonzo Lend through a flaw in Supra\u2019s onchain oracle verifier.<\/p>\n
Hedera-based lending protocol Bonzo Lend lost about $9 million after an attacker manipulated the price of SAUCE used as collateral, allowing the account to borrow assets far beyond the value deposited.<\/p>\n
In a preliminary incident report published Saturday, Bonzo said<\/a> the attacker deposited 250 SAUCE, worth only a few dollars, before submitting a price update that inflated the token\u2019s value by roughly 12 orders of magnitude. The wallet then borrowed 6.63 million USDC and 34.5 million wrapp<\/a>ed HBAR from the lending pool.<\/p>\n The case illustrates how oracle failures can turn low-value collateral into a tool for draining large amounts of liquidity from lending protocols, even when the application and underlying network continue operating as designed. <\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n