June 9, 2023

IOTA network will resume its work until March 2

IOTA network will resume its work until March 2

The IOTA Foundation said the network will be re-launched before March 2, after an emergency shutdown to stop the attack on Trinity wallets.

Nonprofit organization reported that alreadydevelops tools to help the user safely transfer their tokens from existing addresses to new ones. After the transfer of funds is completed, the project team will re-launch the network.

Last week, developers turned off the coordination node responsible for confirming IOTA transactions, due to numerous reports of missing funds from Trinity cryptocurrency wallets. The fund found that the assets were stolen and after stopping the network began to cooperate with law enforcement agencies.

At present, at least 50 victims of the attack are known, for whom about $ 2 million were stolen in total. However, the exact number of hacker victims is still being clarified.

According to the project management, the attackerHe took advantage of the vulnerability of the MoonPay exchange platform built into Trinity’s wallet through which he was able to distribute malicious software.