Hedera temporarily disables network services after exploit

Hedera has announced that it has turned off network proxies on its mainnet due to an exploit. Critical network services like wallets, decentralized exchanges, and others will be available again once the problem is solved.

Timeline of Hedera

The Hedera Network services are experiencing a critical moment with an ongoing exploit that compromises the network's tokens after discovering irregularities affecting various Hedera dApps, Liquidity Pool (LP) tokens, wrapped tokens, and their users. The Hedera Foundation (HBAR) tweeted: We've noticed network irregularities that are impacting various Hedera dApps and their users.The Foundation is in communication with impacted partners.

Key Points: The HBAR Foundation, the non-profit organization behind the Hedera blockchain, confirmed the problem about 4 hours ago. On March 9, the HBAR Foundation issued an unexpected warning concerning an unusual circumstance impacting decentralized apps (dApps) and Hedera users.

HBAR Crypto News: What comes as a surprise to the crypto community, major DApps running on top of the Hedera (HBAR) network recently pointed out suspicious activities and have therefore halted operations. Many are speculating it to be a malicious exploit or a planned attack, rather than a technical glitch in the system.

The HBAR Foundation, the organization working on the Hedera blockchain, said that it had noticed network irregularities affecting various Hedera decentralized applications (dApps) and their users.

The Hedera network is still one of the layer-1 blockchains that have been rapidly gaining popularity. While this was a big factor in HBAR's bullish bounce since the start of the year, it has not been enough to prevent the loss of a third of its YTD gains.

HBAR Crypto News: According to market reports, it's estimated that roughly $102 billion worth of crypto tokens are locked up, and are scheduled to be released over the coming years. Token lockup, also commonly known as “vesting period” refers to the time span in which cryptocurrencies are barred from being transferred or traded.

HBAR Crypto News: Hedera, which is powered by its own proprietary Hashgraph technology, has seen a recent surge in its Total Value Locked (TVL), as it currently sits at $127 billion. The majority of this occurrence may be attributed to the increasing number of DeFi activities that are taking place on the network through DEXs such The post Hedera Records Massive Jump In TVL; Is HBAR's Price Gunning For Bull Run?

Mance Harmon, the man behind the popular layer 1 DLT Hedera, recently appeared in an interview on Paul Barren Network. The interview saw Harmon discuss various aspects of his blockchain firm including decentralization, its growing governance council, and recent partnerships.

The founder of proof-of-stake layer-1 blockchain Hedera (HBAR) is revealing the project's ambitions for the year, saying that the network has managed to defy last year's crypto winter. In a new interview on the Paul Barron Network YouTube channel, Hedera co-founder and CEO Mance Harmon lays out his ambitious roadmap for the crypto protocol.

On 7 February, Hedera [HBAR] confirmed that it secured tech giant Dell as its newest addition to its governing council. The latter already contains other industry heavyweights such as FIS and Google, among others.