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Hedera Network Reportedly Hit by $5.25 Million Exploit

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Nidhi Kolhapur

Blockchain security firm PeckShield said Specter has reported a suspected exploit on the Hedera network, with about $5.25 million in stolen funds bridged from Hedera to Ethereum. According to the report, the attacker initially funded the wallet with 1 ETH from Tornado Cash and currently holds about 2,360 ETH and 15.58 WBTC. The incident could raise security concerns around the network. Investigations are expected to continue as teams track the movement of the stolen funds.

Nidhi Kolhapur

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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