Hedera exploit: Over $5M stolen, bridged to Ethereum
6.6 Security Hedera lost over $5 million in an exploit where attackers bridged funds to Ethereum and swapped assets for ETH, highlighting ongoing security risks in cross-chain bridges.
Hedera (HBAR) recently suffered a significant exploit, with losses estimated between $5 million and $5.8 million. Blockchain researchers first detected the incident after observing unusual outflows from Hedera wallets. The attacker used LayerZero to bridge stolen assets from Hedera to Ethereum, then swapped Wrapped Bitcoin (WBTC) for Ether (ETH) to increase liquidity. The attacker's Ethereum wallet was initially funded with 1 ETH sent via Tornado Cash, complicating efforts to trace the funds. Security firms tracked the attacker's wallet, which held about 2,360 ETH (around $4.25 million) and 15.58 WBTC (about $1 million). Hedera has not yet issued an official statement, and the exact method of the exploit remains unknown. This incident has raised concerns about the security of cross-chain bridges, which continue to be prime targets for large-scale crypto thefts. Following the exploit, HBAR's price dropped over 2%, and investigations are ongoing.
