The IOTA network will resume its work until March 2

The IOTA Foundation Says The Network Will Be Reopened By March 2, Following An Emergency Shutdown To Stop An Attack On Trinity Wallets.

The nonprofit said it is already developing tools to help users securely transfer their tokens from existing addresses to new ones. After completing the transfer of funds, the project team will restart the network.

The IOTA network will resume its work until March 2

Last week, the developers disabled the focal point responsible for confirming IOTA transactions due to numerous reports of missing funds from Trinity crypto wallets. The Foundation established that the assets were stolen and, after the network was shut down, began to cooperate with law enforcement agencies..

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

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

text: Ivan Malichenko, photo: coinspectator

The IOTA network will resume its work until March 2

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