HBAR price fell as low as $0.06673 on July 11 and fell from $0.07099 in 24 hours as news of a security exploit spread through the Hedera ecosystem.
The sell-off came after blockchain security firm PeckShield reported that Bonzo Finance, a lending protocol on Hedera, suffered a suspected oracle manipulation attack. The attacker drained between $5.25 million and $9 million from the protocol, then bridged the stolen funds to Ethereum.
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How the $9 Million Bonzo Finance Exploit Triggered a Sharp HBAR Sell-Off
The attacker used a sophisticated method to drain Bonzo Finance’s liquidity pools. According to on-chain data, the wallet initially received 1 ETH from Tornado Cash. The attacker then deposited 250 SAUCE tokens as collateral and manipulated the oracle price feed.
This spoofing tactic let the attacker borrow 6.63 million USDC and 34.5 million WHBAR against almost no real collateral. A second wallet grabbed roughly $1 million in the same window. However, the operator self-reported as a whitehat and said the funds would be returned.
🚨 BREAKING: Hedera ( $HBAR) has reportedly been exploited.
— Wise Advice (@wiseadvicesumit) July 11, 2026
According to PeckShield, over $5.25 million in stolen funds have already been bridged from Hedera to Ethereum.
The attacker's wallet currently holds:
• 2.36K $ETH ($4.25M)
• 15.58 $WBTC ($1M)
The wallet was… pic.twitter.com/5iuOl7S3hR
PeckShield tracked over $5.25 million in stolen funds bridged from Hedera to Ethereum. The attacker’s wallet now holds 2.36K ETH and 15.58 WBTC.
The exploit created immediate selling pressure on HBAR. Traders rushed to exit positions, fearing further vulnerabilities in the ecosystem. The drop ramped up as stop-loss orders triggered, which pushed the token towards its recent swing low.
Why Hedera Says Its Core Network Remains Secure Despite the Attack
Hedera responded quickly to the incident and stated that the exploit affected Bonzo Finance, an independently operated DeFi application built on its network. The core Hedera consensus mechanism and mainnet services were not compromised.
“Based on the findings to date, Hedera’s consensus mechanism and core network services were not compromised, and mainnet remained operational,” the Hedera team stated.
Bonzo Finance published its own update and confirmed the protocol remains paused while engineers investigate. The team revealed that additional compromised contracts had been discovered and advised users to revoke approvals for Bonzo contracts until further notice.
Read also: Here’s Why Silver Price Is About to Reset Before Its Most Explosive Move Yet
HBAR Price Analysis: Can Key Support Hold After the Exploit?
HBAR price now faces an important test at the $0.0685 support level. The token has been in a downtrend for weeks and traded below all major moving averages. The Relative Strength Index sits at 39.5 and shows bearish momentum.
The overall crypto market offers little help. The Fear & Greed Index reads 31, indicating “Fear” among investors. This cautious sentiment reduces appetite for altcoins like HBAR and makes it harder for the token to recover quickly.
If the $0.0685 support holds and the exploit investigation contains the damage, HBAR could stage a relief bounce toward $0.071 to $0.072.
A confirmed break below $0.0685 would likely intensify selling and could target the next support near $0.066.
HBAR Price Prediction: What’s Next for HBAR After the DeFi Hack?
HBAR faces an important few days as the market absorbs the exploit news. The immediate catalyst will be the resolution of the Bonzo Finance investigation. If the team recovers funds and patches vulnerabilities quickly, confidence could return to the ecosystem.
Technical factors will also decide the outlook. HBAR needs to reclaim the $0.072 resistance level to change the short-term bias from bearish to neutral. Without this move, selling pressure could persist.
The $0.0685 support is the line in the sand. If HBAR holds this level over the next 24 to 48 hours, traders may view the dip as a buying opportunity. A break lower would open the door to further losses.
Our Opinion: Is This a Buying Opportunity or a Warning Sign?
The Bonzo Finance exploit presents a confusing scenario for HBAR investors. On one hand, the core Hedera network remains secure, and the attack targeted a third-party application. This suggests the underlying technology is not at fault.
On the other hand, the incident exposes the fragility of Hedera’s nascent DeFi ecosystem. Until protocols mature and security practices improve, such exploits could recur and create ongoing volatility for HBAR.
For long-term believers in Hedera’s technology, the current price levels may offer an attractive entry point. The network’s enterprise focus and hashgraph consensus provide a solid foundation. However, the immediate risk-reward profile favors caution.
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