Overview
- Validators approved an emergency software upgrade, bringing the chain back online in read-only testing ahead of a staged restart.
- Remediation centers on destroying fraudulently minted tokens, preserving legitimate transaction history, and temporarily restricting accounts tied to illicit transfers.
- Investigators identified the attacker’s Ethereum address, traced movements through Thorchain and Chainflip, and requested freezes from exchanges and issuers.
- Bridge operators and legal advisers opposed a ledger rewind over risks of doubled balances and unbacked assets, while Dapper Labs reported no impact to its users and backed the revised plan.
- Market fallout included a sharp drop in FLOW, temporary transfer suspensions on some exchanges, and a TVL decline that later partially rebounded, according to aggregated data.