Hedera

<ul><li>On March 9, Hedera successfully disabled IP proxies, cutting off network access.</li><li>The network’s token, Hedera (HBAR), has dropped 9% in the previous 24 hours.</li></ul>The developers of the Hedera Hashgraph distributed ledger have revealed that some tokens from the network’s liquidity pool were stolen due to a smart contract vulnerability on the Hedera Mainnet. The hacker, according to <a href="https://hedera.com/" rel="noopener noreferrer nofollow">Hedera</a>, went after tokens in DEXs’ liquidity pools that used code adapted from Ethereum’s Uniswap v2 and deployed on its Hedera Token Service.The Hedera team said that the attacker’s attempt to transfer the stolen tokens through the Hashport bridge, which included tokens from the SaucerSwap, Pangolin, and HeliSwap liquidity pools, triggered the alarm. The bridge was momentarily stopped after quick action by the operators.<h3 id="proxies-disabled-after-attack-discovery">Proxies Disabled After Attack Discovery</h3>The stolen token total was not verified by Hedera. The Hedera Token Service (HTS) was modified on February 3 to support smart contract code that is compatible with <a href="https://ethereum.org/en/developers/docs/evm/" rel="noopener noreferrer nofollow">Ethereum’s Virtual Machine</a> (EVM).A key step in this procedure is decompiling <a href="https://thenewscrypto.com/tag/ethereum-eth/" rel="noopener noreferrer nofollow">Ethereum</a> contract bytecode to the HTS, and here is where Hedera-based DEX SaucerSwap thinks the attack vector originated. Nevertheless, in its most recent update, Hedera does not affirm this. On March 9, Hedera successfully disabled IP proxies, cutting off network access. The group claims to have found the exploit’s “root cause” and to be “working on a remedy.For token holders “comfort,” the Hedera team recommended they verify their account ID and Ethereum Virtual Machine (<a href="https://thenewscrypto.com/tag/evm/" rel="noopener noreferrer nofollow">EVM</a>) address balances on hashscan.io after the company disabled proxies soon after discovering the possible attack. The network’s token, Hedera (HBAR), has dropped 9% in the previous 24 hours, trading at $0.05497 as per CMC as of this writing.

Hacker Steals Tokens From Hedera Exploiting Smart Contract Vulnerability

Table of Contents

TheNewsCrypto

Other articles published on Mar 10, 2023

A Beginner’s Guide to Fantom Part 1

Get Started With Prediction Market Testnet

Best 4 Decentralized Exchanges on Cosmos

24 Hrs Crypto Update, Mar 8: "Is the two-month rally in the market coming to an end?"

DIFI Market to HBIT and ARB

Shido is preparing something massive!

Join our free newsletter for daily crypto updates!