Hacker Steals Tokens From Hedera Exploiting Good Contract Vulnerability

• On March 9, Hedera efficiently disabled IP proxies, reducing off community entry.
• The community’s token, Hedera (HBAR), has dropped 9% within the earlier 24 hours.

The builders of the Hedera Hashgraph distributed ledger have revealed that some tokens from the community’s liquidity pool had been stolen because of a wise contract vulnerability on the Hedera Mainnet. The hacker, in line with Hedera, went after tokens in DEXs’ liquidity swimming pools that used code tailored from Ethereum’s Uniswap v2 and deployed on its Hedera Token Service.

The Hedera staff stated that the attacker’s try and switch the stolen tokens via the Hashport bridge, which included tokens from the SaucerSwap, Pangolin, and HeliSwap liquidity swimming pools, triggered the alarm. The bridge was momentarily stopped after fast motion by the operators.

Proxies Disabled After Assault Discovery

The stolen token whole was not verified by Hedera. The Hedera Token Service (HTS) was modified on February 3 to help good contract code that’s suitable with Ethereum’s Digital Machine (EVM).

A key step on this process is decompiling Ethereum contract bytecode to the HTS, and right here is the place Hedera-based DEX SaucerSwap thinks the assault vector originated. Nonetheless, in its most up-to-date replace, Hedera doesn’t affirm this. On March 9, Hedera efficiently disabled IP proxies, reducing off community entry. The group claims to have discovered the exploit’s “root trigger” and to be “engaged on a treatment. 

For token holders “consolation,” the Hedera staff beneficial they confirm their account ID and Ethereum Digital Machine (EVM) handle balances on hashscan.io after the corporate disabled proxies quickly after discovering the potential assault. The community’s token, Hedera (HBAR), has dropped 9% within the earlier 24 hours, buying and selling at $0.05497 as per CMC as of this writing.