Hedera Confirms Hackers Stole Tokens From DEX

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Last Updated on March 11, 2023 by Bitfinsider

According to the main team at Hedera, there was a recent network exploit in which hackers took funds via users’ accounts on decentralized marketplaces.

The attackers exploited a flaw in the “Hedera smart contract service” to move Hedera Token Service (HTS) coins from users’ accounts to their own. The Hedera smart contract service is a distinct computing layer combined with the network that aids in the execution of Ethereum-compatible applications.

“Today, attackers used the Hedera mainnet’s smart contract service code to move Hedera Token Service tokens owned by victims’ accounts to their own accounts,” the team said on Twitter.

According to the core team at Hedera, the attackers targeted liquidity pools on various decentralized exchanges (DEXs) that had transferred Hedera tokens to the network’s smart contract service via a bridge. Multiple DEXs were impacted, including Pangolin, SaucerSwap, and HeliSwap.

The exploit was confirmed today, one day after the HBAR Foundation, the organization behind the blockchain, officially announced “network irregularities” impacting different Hedera-based decentralized apps (dApps) and their users.

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