Security firm PeckShield issued an alert, crediting analyst Specter, claiming that the Hedera network has been exploited with approximately $5.25 million bridged from the network to Ethereum. Hedera has not yet confirmed the incident, nor has it paused the network or issued any official statement.
Exploit Details: Tornado Cash Funding, Wallet Holds 2,360 ETH & 15.58 WBTC
According to PeckShield, the attacker's wallet was initially funded with 1 ETH from Tornado Cash, a mixer commonly used to obscure fund origins. The wallet now holds about 2,360 ETH (worth ~$4.25M) and 15.58 WBTC (~$1M). The alert does not disclose the exploit technique — whether it's a smart contract bug, a bridge vulnerability, or something else. Further details are awaited.
Official Silence, Market Already Reacts
As of press time, Hedera's blog and X account have not posted any update confirming the hack, pausing the network, or reassuring users. This silence could mean the team is still investigating or that the claim requires more evidence. However, the market has already moved: HBAR price stood at $0.06908, down 2.42% in 24 hours, while trading volume spiked 77.47%. CoinMarketCap even displayed the question "Why is HBAR's price down today?" on its page, indicating the alert has drawn broad attention.
Hedera Not a Stranger to Hacks: $600K Loss in March 2023
Hedera has faced security issues before. In March 2023, the network confirmed its first exploit, losing about $600,000 after attackers hit its smart contract layer. Back then, Hedera responded within hours and patched the bug quickly. If this new claim is confirmed, it would be the largest security incident in Hedera's history.
Recent weeks have also seen multiple bridge and protocol hacks: In June 2026, a software bug allowed hackers to rebuild private keys, leading to $2.4M losses in ADA across 374 wallets. On June 26, a third-party vendor hack at Polymarket led to $3M theft. On June 22, a bridge lost $1.7M due to a leaked key but fully refunded within 10 days. In May 2026, THORChain ($10.8M), Verus Bridge ($11.5M), and Echo Protocol (real loss ~$821K) were hit in just four days.
This article covers an unconfirmed report and is for informational purposes only. Please verify all details independently before making any decisions.