Summary
Hedera is a public distributed ledger technology platform using a patented hashgraph consensus mechanism, launched to mainnet in September 2019. In March 2023, the network suffered a protocol-level exploit in its Smart Contract Service that drained approximately $600,000 in liquidity pool tokens from three decentralized exchanges, requiring a full mainnet proxy shutdown for 41 hours. The platform operates under a council governance model comprising up to 39 global enterprises, which provides institutional stability but draws criticism for centralization relative to permissionless blockchains.
Connected Entities
1 entities- + 3 more
Timeline(12 events)
2016-01-01
Swirlds, Inc. granted three U.S. patents protecting the hashgraph consensus algorithm invented by Dr. Leemon Baird.
2019-09-16
Hedera mainnet launched for open public access with HBAR as the native token.
2021-09-15
HBAR reached its all-time high price of approximately $0.57 USD.
2022-01-19
Hedera Governing Council voted to purchase the hashgraph intellectual property from Swirlds, Inc. and committed to releasing it under the Apache 2.0 open-source license.
2022-08-05
Hedera codebase transitioned to open source under Apache 2.0, completing the IP acquisition and open-sourcing commitment.
2022-11-01
Prolific scammer (account '2015717') allegedly began mass airdrop phishing campaigns targeting Hedera wallet users, sending fraudulent memos to tens of thousands of accounts.
2023-03-09
Attacker exploited a delegatecall precompile bug in Hedera's Smart Contract Service, stealing approximately $600,000 in tokens (DAI, USDT, USDC, WHBAR) from liquidity pools at Pangolin, SaucerSwap, and HeliSwap. Mainnet proxy access disabled at 20:18 UTC.
2023-03-11
Hedera mainnet upgraded with patch (version 0.34.5) blocking delegateCall to HTS precompile contracts; full service restored at 02:04 UTC, 41 hours after initial attack discovery.
2024-11-15
Hedera Governing Council approved governance reforms, reducing board size from seven to five members with two unaffiliated seats.
2025-01-01
HBAR reached approximately $0.40, a multi-year high driven by post-election crypto rally, before declining over 70% by end of Q1 2025.
2025-10-01
Canary Capital HBAR ETF launched, accumulating approximately $93 million in net inflows.
2025-06-03
FBI Internet Crime Complaint Center (IC3) issued formal public service announcement warning of cybercriminals defrauding Hedera Hashgraph non-custodial wallet users through NFT airdrop phishing schemes.
Decision Log
- hash: GBEJZi1nBiN7Hrj4r5Pudrvd3SZZ9Bh1GHXPQ3gKQPWv
- hash: ANyd8dAUds6ZHLBWbeQ2bXutbPbCUDcQvjDp5PG8d4cW
- hash: 5kRX1frdY1d43Koo8jK2yDuKJdJMugzbyFMPwZ5TPsVQ
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:26 AM
last updated: 6/9/2026, 8:26:16 PM
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