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Hedera Token Service Targeted by Smart Contract Service Code Attack

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On March 10, Hedera disclosed the details of the attack. The attacker attacked the smart contract service code of Hedera\’s main network and transferred the Hede

Hedera Token Service Targeted by Smart Contract Service Code Attack

On March 10, Hedera disclosed the details of the attack. The attacker attacked the smart contract service code of Hedera’s main network and transferred the Hedera Token service token held by some user accounts to his own account. The target of the attacker is to use accounts as liquidity pools on multiple DEXs, which are migrated to use Hedera Token Service using contracts derived from Uniswap V2, including Pangolin Hedera, SaucerSwap and HeliSwap.

Hedera: The attacker attacks the smart contract service code of the main network and transfers the user token to his account

Analysis based on this information:


On March 10, Hedera, a public distributed ledger platform, disclosed that its Hedera Token Service (HTS) smart contract service had come under attack. The attack was aimed at transferring the HTS tokens held by several user accounts to the attacker’s account. The attacker’s goal was to use these tokens to create liquidity pools on several decentralized exchanges (DEXs), which have migrated to use HTS through contracts derived from Uniswap V2, such as Pangolin Hedera, SaucerSwap, and HeliSwap.

To understand this message, we need to delve into some key concepts. First, let us look at the Hedera Token Service. HTS is a tokenization and smart contract platform that allows users to create and manage customized tokens backed by the security and stability of the Hedera network. Users can tokenize anything from assets, securities, loyalty points, and tickets to NFTs on this platform.

Secondly, smart contracts are self-executing programmable protocols that facilitate, verify, and enforce the negotiation or performance of a contract. Smart contracts have applications in several domains such as decentralized finance (DeFi), insurance, voting, and gaming, among others.

The attacker targeted the smart contract service code of the Hedera main network. By exploiting a vulnerability in the code, the attacker transferred HTS tokens held by some users to their own account. The attacker then used these tokens to create liquidity pools on several DEXs. A liquidity pool is a collection of funds (tokens) locked into a smart contract that enables traders to trade with each other, creating a market for those tokens.

The attacker chose to use DEXs that have migrated to use HTS through contracts derived from Uniswap V2. Uniswap V2 is a decentralized protocol for automated liquidity provision on Ethereum. By deriving contracts from Uniswap V2, these DEXs provided easy compatibility with the HTS. This made it easier for the attacker to create liquidity pools on these DEXs.

In conclusion, the attack highlights the need for greater scrutiny of smart contract code and the importance of adopting best practices for smart contract development. It is also a reminder of the vulnerabilities that exist in DeFi platforms and the importance of being vigilant while trading in cryptocurrency.

Overall, the message suggests that the Hedera network is taking steps to secure the HTS platform, and its users should remain cautious while trading on DEXs.

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