A recent exploit in the Hedera ecosystem has resulted in the loss of approximately $5.25 million in digital assets. The stolen funds were bridged from the Hedera network to Ethereum, where they were consolidated into a single wallet.
The incident came to light after on-chain investigators observed the suspicious activity, and blockchain security firm PeckShieldAlert reported that the attacker had already moved the stolen assets to Ethereum.
Early investigations suggest that the attack may have originated from Bonzo Finance, a decentralized lending platform built on the Hedera network. Preliminary reports indicate that the attacker manipulated a SAUCE token price oracle, artificially inflating collateral values before borrowing assets far beyond their legitimate value.