Hedera Network Exploit Moves $5.8M to Ethereum

Hedera faced a suspected exploit moving over $5.8 million from Hedera to Ethereum, with LayerZero used for cross-chain transfers and WBTC swapped for ETH. Hedera’s price slid more than 2% to about $0.069 as researchers monitor on-chain activity. Security firms Specter and PeckShield trace the wallet, noting initial funding from 1 ETH via Tornado Cash, complicating attribution. Ongoing investigation, no official loss figure yet, highlighting cross-chain security risks and rapid market reaction.