The “HBAR Hack” Wasn’t a Network Failure, Analyst Says

An analyst debunks claims of a Hedera core network hack, clarifying that Hedera’s consensus and HBAR were unaffected. The incident centered on Bonzo Finance’s lending platform and an oracle breach that mispriced collateral, enabling multi-million-dollar borrowing. Key takeaways for Hedera users: external oracles and bridges introduce risk, not Hedera itself. Critical questions include oracle sanity checks, automatic borrow pauses on extreme moves, and distributed emergency controls. Approximate loss: $9.05 million, with some funds potentially returned by a white-hat actor.