• Hedera (HBAR) core team recently announced that it is investigating an issue with smart contracts on the network.
• The issue was first noticed by DefiIgnas and is believed to be targeting the decompiling process of smart contracts.
• Pangolin has advised users to withdraw their funds from pools and farms as soon as possible.
Hedera Experiencing Smart Contract Irregularities
The Hedera (HBAR) core team recently announced that they are actively investigating a smart contract irregularity that had been discovered. They are working directly with teams across the DeFi ecosystem to determine the cause and potential impact, and updates will be provided as they become available.
What’s Happening?
DefiIgnas published a thread describing the exploit about three hours before HBAR Foundation’s first tweet. According to him, the exploit is targeting the decompiling process in smart contracts and affecting all Hedera dApps using Hedera Token Service (HTS). There were also reports of attackers hitting pangolin and HeliSwap pools containing wrapped assets. Hashport then temporarily paused its bridge in response to these irregularities.
Advice From Pangolin
Pangolin then tweeted out advising users to withdraw their funds from pools and farms as soon as possible due to the network irregularities experienced by Hedera. This is a time-sensitive moment, so they urged everyone to act quickly while they update people with more information as it becomes available.
Impact On DeFi Ecosystem
The impact of this exploit on DeFi projects remains unknown at this point in time, but it does pose some risks for projects relying on HTS for its operations or transactions. Users should be aware of any irregular activities occurring on their wallets or accounts, especially those related to HBAR tokens, until further notice from either Pangolin or Hedera’s official channels regarding this incident is released.
Conclusion
Overall, Hedera’s core team has been working hard since discovering this exploit to determine its cause and impact within the DeFi ecosystem while issuing updates along the way. Until further details have been clarified by either Pangolin or HBAR Foundation’s official channels regarding this incident, users should remain vigilant when it comes dealing with any HBAR-related activities within their accounts or wallets
