TAC Rebounds After 99% Crash as Traders Bet on a Network Recovery

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AI Summary: TAC is staging a high-risk rebound after a major exploit and network halt, but lasting recovery will depend on the relaunch plan, security fixes and restoration of market confidence.

TAC is attempting to recover after a major security exploit triggered a sharp sell-off. On August 22, an attacker exploited a vulnerability in the shared Cosmos EVM precompile layer and transferred 2,985,651,403 TAC from a single account. TAC subsequently halted the network at block 24,671,475 to prevent further damage. The team says no new tokens were minted and total supply remains unchanged, while other assets on the network were not affected. A technical post-mortem and network relaunch plan are being prepared with SEAL 911 and exchanges.

The token has since shown signs of a technical rebound, recovering from an intraday low around $0.00130 to roughly $0.0024. Some traders are attempting long positions from the demand zone, with bullish setups targeting a move back toward $0.00305. However, the broader structure remains highly fragile after the security-driven crash, and the market is likely to remain sensitive to official updates. A sustained recovery would require TAC to regain higher price levels while the network successfully completes its security fixes and relaunch process.

Source:KuCoin News
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