Taiko sets four-step restart plan after June 21 bridge attack

Taiko closed the exploit path after independent experts reviewed and approved its security fixes. Bridge reserves will be restored with 1:1 asset backing before withdrawals resume for users. Network services will restart gradually, with bridge access returning after stability verification. Taiko has announced a four-step recovery strategy to restore its Ethereum layer-2 network after the […] The post Taiko Unveils Four-Step Plan to Restore Network After Cyberattack appeared first on Live Bitcoin News.

An attacker forged withdrawal proofs using an RSA-3072 private key accidentally committed to Taiko’s public raiko GitHub repository, draining $1.7 million from L1 bridge contracts and forcing the protocol to halt block production and urge all users to exit.

Researchers estimate more than $1.7 million was stolen after attackers allegedly exploited Taiko's proof verification process.

Attackers stole $1.7 million in the most recent decentralized finance heist this month using an exploit on one of the network’s bridge protocols; Taiko, an Ethereum layer-2 blockchain, has now asked its users to remove assets from the network’s bridges. On Monday, the layer-2 blockchain brought to light a vulnerability

Taiko warns users to withdraw from bridges after a verification compromise and reported ERC20 Vault losses above $1M. Taiko has issued an urgent security warning after confirming a compromise in its chain state verification mechanism.  The project said the issue affects the trust model behind bridges deployed on Taiko. The team warned that users can […] The post Taiko Bridge Security Compromise Triggers Urgent Withdrawal Warning appeared first on Live Bitcoin News.

Ethereum scaling solution Taiko confirmed that its bridge source-signal proof validation mechanism was compromised, allowing hackers to bypass protocols and drain an estimated $1.7 million from its ERC-20 vault. Technical Flaw Leads to $1.7 Million Loss Ethereum scaling solution Taiko confirmed June 22 that its chain state verification mechanism had been compromised. As a consequence, […]

Yet another security incident has been reported today, where popular Ethereum L2 network Taiko was exploited for around $1.7 million.

Taiko urged users to withdraw bridge funds after a verification mechanism compromise, while Blockaid reported more than $1m in vault losses.