Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

Today in crypto, DeFi protocol Bonzo Lend lost about $9 million after an attacker manipulated the price of SAUCE through a flaw in Supra’s oracle verifier on Hedera. The US Department of Justice is reportedly seeking to drop its case against alleged BitClub fraudster Matthew Goettsche, while New Hampshire rejected a proposal to issue $100 million in Bitcoin-backed bonds, dealing a blow to one of the most closely watched state crypto initiatives in the US.

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.

In a preliminary incident report published Saturday, Bonzo said the attacker deposited 250 SAUCE, worth only a few dollars, before submitting a price update that inflated the token’s value by roughly 12 orders of magnitude. The wallet then borrowed 6.63 million USDC and 34.5 million wrapped HBAR from the lending pool.

Read more