Hedera Hit by Irregularities and Exploit Fears
Hedera Hashgraph is currently experiencing network irregularities that are affecting various decentralized applications (dApps) and their users, according to the HBAR Foundation, the organization behind the Hedera network.
The Hashport bridge project temporarily suspended its services due to smart contract irregularities on Hedera, and the Pangolin decentralized exchange recommended that users withdraw liquidity from the platform.
We’ve noticed network irregularities that are impacting various Hedera dApps and their users.
The Foundation is in communication with impacted partners. We’re monitoring and working to help resolve the issue.
Please standby for more information.
— HBAR Foundation (@HBAR_foundation) March 9, 2023
The HBAR Foundation is working with its partners to resolve the issue and is monitoring the situation closely.
According to SaucerSwap Labs, a DeFi project on Hedera, there are concerns about an ongoing exploit impacting the network.
The exploit allegedly targets the decompiling process in smart contracts, which is the process of converting compiled bytecode back into human-readable code.
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SaucerSwap also claims that an unknown attacker has already targeted Pangolin and HeliSwap decentralized exchange pools containing wrapped assets, but it is uncertain if any tokens were stolen.
However, the exact nature of the exploit is unclear, and the HBAR Foundation has not yet commented on the possibility of an exploit.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
