The Ethereum (ETH) competitor acknowledged the exploit in a tweet on Thursday.
The attacker targeted accounts used as liquidity pools on multiple DEXs that use Uniswap v2-derived contract code ported over to use the Hedera Token Service, including Pangolin Hedera, SaucerSwap Labs and HeliSwap DEX.
When the attackers moved tokens obtained through these attacks over the Hashport Network bridge, the bridge operators detected the activity and took swift action to disable it.”
Hedera says it turned off mainnet proxies to remove the hacker’s access to the mainnet and prevent them from stealing additional tokens.
On Friday evening, Hedera’s chief marketing officer Christain Hasker announced Hedera was back online.
Aaaaaand we’re back! https://t.co/sUahtuSoA4 – thank you all so much @hedera community. Blog post incoming.
— Christian Hasker (@chasker) March 11, 2023
The TVL of a blockchain represents the total capital held within its smart contracts. TVL is calculated by multiplying the amount of collateral locked into the network by the current value of the assets.
HBAR, Hedera’s native asset, is trading around $0.0594 at time of writing, which is roughly equivalent to what it was priced at prior to the exploit.
Generated Image: Midjourney
Read the full article here