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Taiko Reports No User Fund Loss Following Security Event, to Complete Full Collateral Replenishment Before Bridge Reopens

GateNews
Security IncidentsProject Progress
TAIKO-5.70%

According to ChainCatcher, Taiko announced on June 25 that its security incident will not result in user fund losses. The bridged assets are currently undercollateralized, and the team will complete full collateral replenishment before reopening the bridge to ensure each user balance maintains 1:1 support.

The team has adopted precautionary measures following the incident, including containing impact scope and identifying root cause. Taiko's CEO submitted a formal report to Singapore authorities. The team is currently testing completed fixes and will reopen the chain and bridge services after confirming safety.

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In-Depth Analysis

THORChain Resumes Trading After $10.7M Exploit Recovery

Ethan Brooks06-23 17:37

Taiko suffered an attack loss of about $1.7 million, with the cross-chain bridge and vault urgently paused

Market Whisper06-22 06:11
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