March 25, 2023

IOTA Releases Trinity Compromised Wallet

The IOTA project has announced the release of a secure desktop version of the Trinity wallet. Investigation of a problem The theft of coins of 10 wallet users last week continues.

IOTA token transactions are suspended already6 days - from the moment a vulnerability was discovered that caused the theft of coins at least 10 users of the desktop version of the Trinity wallet. IOTA calls for downloading an updated version of the wallet, checking the balance and, if necessary, reporting the missing funds.

IOTA Foundation warns token holdersThose who want to check their balance so that they do not trust users who access them on the official Discord channel. Fraudsters contact participants claiming that they can recover lost coins. The developers said:

“Balances and transactions are available at the entrance tothe system. If your balance does not look right or there are outgoing transactions unknown to you, please contact the moderator team or IOTA Foundation representative directly through Discord. Please note that there are impostors posing as IOTA Foundation employees on our Discord. ”

Transactions on the IOTA network are still unavailable. Last Wednesday, IOTA announced that it had begun receiving reports from users and decided to disconnect the coordinator node on the network for further investigation.

With this action, developers are not onlysuspended transactions on the network, but also found its complete dependence on the coordinator node. At the moment, the project developers have not yet launched the Coordicide protocol, which would allow decentralized consensus, and the final IOTA balances are determined by one server.

According to various reports, due to the vulnerabilitycoins ranging from $ 300,000 to $ 1.6 million were stolen. Users of the mobile version of the wallet were not injured, but IOTA recommends not to run the application until the new version is released. The exact nature of the vulnerability remains unknown.

Earlier this month, IOTA and 15 companies set up a working group to commercialize Tangle technology, which is the “third generation” scalable distributed IOTA registry.