Overview
- Validators approved a software update and brought the network back in a read-only testing mode ahead of a phased restoration.
- The remediation targets destruction of fraudulently minted tokens and imposes restrictions on flagged accounts to preserve legitimate activity.
- Investigators identified the attacker’s Ethereum wallet and traced laundering attempts through Thorchain and Chainflip, with freeze requests sent to issuers and exchanges.
- The foundation said existing user balances were not accessed, as market data showed a FLOW price drop, temporary exchange suspensions, and a TVL decline that partially rebounded within 24 hours.
- Dapper Labs backed the revised plan, and coordination with bridges, custodians, and validators continues to resolve operational edge cases.