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06/22 13:25

Crypto : Taiko Hacked, 1.7 Million Dollars Stolen

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Crypto : Taiko Hacked, 1.7 Million Dollars Stolen The crypto Taiko is undergoing a major crisis after a hack causing approximately 1.7 million dollars in losses. The Ethereum layer 2 network has halted its block production and asks users to withdraw their funds from all its crypto bridges. In brief Taiko stopped its blocks after a major flaw. The attack caused about 1.7 million dollars in losses. Users must withdraw their funds from the network’s bridges. Taiko stops its blocks after the attack Taiko confirmed a critical flaw in its message verification mechanism. This crypto attack allowed a hacker to submit false proofs on Ethereum and withdraw assets without a legitimate transaction on the source chain. The incident reignites concerns around crypto bridges. Facing the risk, Taiko contributors halted the production of new blocks. The crypto protocol also asked centralized platforms to suspend deposits of its native token until further notice.

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