Everscale Partner
For more than 4 days, the transfer of assets does not pass through the IOTA crypto project network. The problem is related to the vulnerability of the Trinity wallet, which allowed an attacker to steal, according to estimates, from $ 300,000 to $ 1.2 million.
As a result, the IOTA developers decided to stop the “coordinator” mechanism, which is why they were criticized in the community. Centralized management will be reduced with the Coordicide update, but in this situation, it avoided larger losses.
On February 16, the IOTA Foundation reported that they were able to make significant progress towards restarting the network. A revised version of Trinity is being prepared for release. Users are asked not to open wallets if they are already installed on their computers, and upgrade to the latest version as soon as it is available. The developers note that this is not a complete solution for the resumption of the network, but a necessary first step.
“The most important thing is that this version will be safe. We discovered the vulnerability and removed it from the wallet. This version will allow you to open a wallet, check the balance and transactions, ”they write.
In addition, the IOTA Foundation continues to work with law enforcement to determine the circumstances of what happened and are preparing new tools for real-time tracking of funds, which are expected to help advance the ongoing investigation.
