Hedera Drops 1.46% on Signs of Network Hack
Uk Jin
Summary
- Hedera (HBAR) was trading at $0.0696, down 1.46% from a day earlier, as investor sentiment weakened on news of a hack tied to the network.
- On-chain analyst Specter said signs of an ongoing hack had been detected on the Hedera network, and that the attacker had bridged more than $3.7 million in assets to the Ethereum (ETH) network.
- Following the report of the suspected hack, South Korean crypto exchanges including Upbit, Bithumb and Coinone urged caution for investors regarding Hedera.
Hedera's HBAR token traded lower on July 11 as signs of a network hack weighed on investor sentiment.
As of 6 p.m., HBAR was trading at $0.0696, down 1.46% from a day earlier, according to CoinMarketCap.
Earlier, on-chain analyst Specter wrote on X, formerly Twitter, that signs of an ongoing hack had been detected on the Hedera network. The attacker has so far bridged more than $3.7 million of assets to the Ethereum network.
After the report emerged, South Korean cryptocurrency exchanges including Upbit, Bithumb and Coinone urged caution for investors in Hedera.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.