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 Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
