Taiko Identifies the Source of the Attack and Plans Recovery

KuCoinFlash

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ETH

$1,821.02-0.28%

Summary

Taiko has identified the source of the attack and plans to restore operations within days, according to on-chain data. The incident affected the ERC-20 Vault on Ethereum, resulting in losses exceeding $1 million. The team will prioritize affected users and collaborate with the DAO council. The Fear & Greed Index remains volatile as the market responds to the breach.

BlockBeats report: On June 23, Taiko officially announced that it has fully identified the root cause of the attack. The team has developed a remediation plan and will safely restore blockchain operations within the coming days. Priority will be given to addressing issues affecting users, and the team will collaborate with the DAO council to explore the optimal solutions.

Yesterday, Taiko's ERC20 vault on Ethereum was attacked, resulting in losses exceeding $1 million.

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