May 28, 2023

IOTA network will be restored on March 2

Representatives of the IOTA Foundation reported that the network, which was suspended after hacking Trinity wallets Wallet will be resumed March 2.

IOTA Foundation expects to resumenetwork operation, users will use the tool to transfer sid. That is, they will create new wallets and transfer their funds to them. Also, representatives of the IOTA Foundation stressed that since the hack on February 12, the organization has been working with law enforcement agencies.

According to the co-founder of IOTA FoundationDominik Schiener, the organization contacted the German Center for Cybercrime, and also works with the US Federal Bureau of Investigation. In total, Trinity Wallet users lost about $ 2 million. According to Shiner, part of the stolen funds has already been transferred to cryptocurrency exchanges.

IOTA Foundation emphasized that the vulnerability wasfound in the MoonPay service, which allows you to buy IOTA coins directly from wallets. Hackers were able to distribute their own SDK on MoonPay, which Trinity Wallet considered legitimate.

“The main mistake is that we are notIntegrated NPM and did not properly check packages. The human factor and the desire to quickly release a new version of the wallet led to this error, ”said Shiner.

At the moment, it is known that 50 Trinity Wallet users became victims of the attack, but it is not known how many users of the program downloaded the compromised SDK.

“I emphasize that not users were hitIOTA, and Trinity Wallet users, and only on personal computers. The rest have nothing to worry about and their means are safe, ”Shiner said.

This is not the first trouble that has happened with the IOTA network. So, at the end of last year, the IOTA blockchain ran into a problem that caused a 15-hour stop in network transactions.