SaucerSwap (SAUCE)

@bonzo_finance on Hedera got drained for $9.05M today.

Attacker dropped 250 SAUCE as collateral, spoofed the oracle price, then walked away with 6.63M USDC + 34.5M WHBAR against basically dust.

A second wallet grabbed ~1M in the same window, self reported as whitehat, says funds are coming back.

Lend + Points paused. Vaults, Bridge, staking all fine.

Attacker wallet (EVM, post-bridge):
https://t.co/VlXIWNfUrZ
https://t.co/f9SZI1D7cW

Attacker wallet (Hedera):
https://t.co/GtsR0ess8s

Whitehat wallet (Hedera):
https://t.co/L8YLLOsQxp

Key transactions:
SAUCE collateral deposit
https://t.co/QSCuiToTTa

USDC drain
https://t.co/cCtUlVchqq

WHBAR drain
https://t.co/WdANSlPrmL

someone exploited a pre-compile bug Supra oracle smart contract

they deposited a few hundred $SAUCE and forced it's value way out of whack

they used that forced valuation to borrow insane amounts of USDC and HBAR

it's not looking good...
but honestly not @bonzo_finance's fault

I want to talk about a token that most people in crypto have completely misjudged.

Not because the information is hidden. Because the default assumption about governance tokens is so low that most people stop looking before they find what is actually there.

SAUCE is not what most people think it is.

Thread 3 of Series 3. Here is what it actually represents 🧵