Sa. Apr 20th, 2024

• Hedera has been experiencing “network irregularities” due to an exploit targeting its smart contracts.
• The HBAR Foundation and core team are actively investigating the issue.
• Users with HBAR tokens in Pangolin pools and farms should withdraw their funds as soon as possible.

Hedera Experiencing Smart Contract Irregularities

Hedera (HBAR) has announced that their network is currently experiencing „network irregularities“ due to a discovered exploit targeting its smart contracts. The HBAR Foundation and core team have since been actively investigating the issue and have urged users with HBAR tokens in Pangolin pools and farms to withdraw their funds as soon as possible.

What’s Happening?

The exploit is targeting the decompiling process in smart contracts and affecting all Hedera dApps that are using Hedera Token Service (HTS). It was noticed that attackers had already hit pangolin and HeliSwap pools containing wrapped assets, leading Hashport to temporarily pause its bridge. Pangolin advised all users to withdraw their funds immediately after detecting the irregularity.

HBAR Foundation Response

The HBAR Foundation released a statement earlier today saying they are working on discovering what caused the issue, but no other information has been provided at this time. They also encouraged teams across the DeFi ecosystem to help determine potential impact of the attack. Updates will be provided when available.

Advice for Users

Users who hold HBAR tokens in Pangolin pools or farms should withdraw their funds immediately until further notice from the team at Hedera or more information becomes available about this attack. This is especially important because it is a time-sensitive situation, so any delay may lead to serious losses of capital for those affected by this attack.

Conclusion

Hedera (HBAR) is currently experiencing network irregularities due to an exploit attacking its smart contracts, leading some users with HBAR tokens in certain pools or farms to experience losses if not withdrawn quickly enough before any additional updates become available from the team at Hedera or more information surfaces about this incident.

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