The core team at Hedera confirmed there was a recent exploit on the network in which hackers stole funds via users' accounts on decentralized exchanges, it said.

Speculation on social media platforms has been fueled by the report of irregular activity, leading to suggestions that the platform may have been attacked by hackers.

Hedera, a decentralized proof-of-stake ledger, has shut down network services after revealing it has been experiencing “network irregularities.”

Hedera’s native token, HBAR, is currently in the green, while its counterparts in the crypto market are flat or recording losses on high timeframes. On-chain data shows the coin has been witnessing impressive performance this year.

The crypto market has responded to the SEC’s latest push against crypto staking by lending favor to the bears. Most of the top cryptocurrencies were discounted in the last 24 hours. However, Hedera [HBAR] was among the few that somehow evaded this FUD-induced sell pressure.

Hedera onboards Dell as the latest member of its governing council. The market reacted positively, but HBAR was still unable to escape its press time range.

Technology giant Dell will join the likes of Google, FIS and Abrdn on the governing council of the enterprise network Hedera, a distributed ledger technology that uses a hashgraph consensus mechanism.