February 23, 2024

IOTA Foundation suspended network due to hacking

IOTA Foundation suspended network due to hacking

The IOTA Foundation, the non-profit organization that develops the IOTA network, said that as a result ofa coordinated attack funds Trinity wallet users have been stolen.

From $ 300,000 to $ 1.2 million in IOTA tokens were stolen from ten user accounts.

The company announced that it had deactivated the network onthe next day. This decision was made in order to prevent the recurrence of theft, since the methods of work of hackers have not yet been investigated. At the moment, developers are trying to analyze the attack scheme and conduct transaction analysis.

The investigation is ongoing, but the fund has already stated that all affected users have deposited funds in the Trinity wallet.

In addition, according to company representatives,The investigation has already been brought in by relevant law enforcement agencies. They also promised to publish a full incident report at the end of the investigation. So far, the Fund has advised against using the Trinity wallet.

Some exchanges hastened to say that they did not track the receipt of stolen IOTA tokens on their platforms.