November 30, 2023

IOTA Foundation Announces Network Resumption

The IOTA network has fully resumed its operation. Transactions were suspended after the wallet was hackedTrinity, during which attackers stole $ 2.2 million IOTA coins.

In a company blog post, representativesThe IOTA Foundation emphasized that all users have been transferred to new wallets and the transaction confirmation system is working again. In addition, IOTA co-founder David Sonstebo plans to recover damages to all hacked users.

“We continue to work with the FBI, as well aslaw enforcement agencies in the UK, Germany and Malta to identify and capture criminals. After launching the network coordinator, we actively monitor suspicious activity, ”the company said in a statement.

The IOTA Foundation also emphasizes that the companytook all necessary measures so that the hacking does not happen again. For this, internal processes, the approach to security and software updates were reviewed, and staff training was conducted.

Hacking Trinity wallet occurred on February 12. At the same time, the vulnerability itself was discovered in the MoonPay service, which allows you to buy coins directly from the wallet. Attackers were able to replace the SDK, which Trinity Wallet took as legitimate. Previously, it was assumed that the IOTA network will be restored on March 2.