Hedera suffered an exploit on July 11 that led to losses of about $5.25 million, according to Techub News, citing CryptoBriefing. The attacker moved funds from Hedera to Ethereum through the LayerZero cross-chain bridge, then sent the assets through Tornado Cash and swapped Wrapped Bitcoin for Ether to consolidate holdings. Hedera had not officially confirmed the incident at the time of publication. On-chain investigators were still reviewing transaction data to determine how the exploit worked. Two wallet addresses tied to the attacker were identified as 0x9A49...a494 and 0xaf20...D93e. The report said recovery is difficult after the funds were mixed. The incident came just one month after Canary Capital launched an HBAR ETF, a development that CryptoBriefing said could weigh on Hedera’s reputation.
About $5.25 million lost in Hedera exploit
Hedera was exploited on July 11, with losses of about $5.25 million, according to Techub News, citing CryptoBriefing.
The attacker moved funds from Hedera to Ethereum through the LayerZero cross-chain bridge. The assets were then sent through Tornado Cash, and Wrapped Bitcoin was swapped for Ether to consolidate the holdings.
Hedera has not confirmed the incident
Hedera had not officially confirmed the attack at the time of publication. On-chain investigators were reviewing transaction data to identify the details of the exploit. The attacker’s wallets were identified as 0x9A49...a494 and 0xaf20...D93e, and the report said the chances of recovery were low after the funds were mixed.
The incident came one month after Canary Capital launched an HBAR ETF. CryptoBriefing said the event could hurt the network’s reputation.
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