Hackers Exploit Ethereum (ETH) Rival

Important things are taking place in the crypto space these days. Check out the latest reports about hackers exploiting ETH rivals. Check out the latest reports below.

Layer-1 blockchain Hedera (HBAR) had to pause normal activity this week due to a hack on its smart contract service code.

The Ethereum (ETH) competitor acknowledged the exploit in a tweet on Thursday.

“Today, attackers exploited the Smart Contract Service code of the Hedera mainnet to transfer Hedera Token Service tokens held by victims’ accounts to their own account.”

The same notes continued and said:

“The attacker targeted accounts used as liquidity pools on multiple DEXs that use Uniswap v2-derived contract code ported over to use the Hedera Token Service, including Pangolin Hedera, SaucerSwap Labs and HeliSwap DEX.”

They also noted this:

“When the attackers moved tokens obtained through these attacks over the Hashport Network bridge, the bridge operators detected the activity and took swift action to disable it.”

Hedera said that it turned off mainnet proxies to remove the hacker’s access to the mainnet and prevent them from stealing additional tokens.

On Friday evening, Hedera’s chief marketing officer Christain Hasker announced Hedera was back online.

Bitcoin just bounced off a historical line of support at $20,000 as the Biden Administration launched an all-out assault on cryptocurrency and the 50 million American citizens and voters who own digital assets.

“The latest jab stems from President Biden’s dead on arrival tax plan, which would impose a 30% tax on the energy used for Bitcoin mining, reports the New York Times,” according to the reports coming from the online publication the Daily Hodl.

The plan would also stop crypto investors from selling assets at a loss and quickly rebuying them in order to save on taxes, reports Bloomberg.