Taiko Issues Security Incident Update: Initiates Fix Plan Testing, Will Fully Collateralize Bridged Assets Before Restart

CoinFeed June 25 news, Ethereum Layer2 project Taiko released the latest update on the security incident, stating that the incident will not result in any user fund losses. Currently, bridged assets are in an undercollateralized state, and full collateral will be completed before the bridge reopens, ensuring each user's balance is supported 1:1, completely consistent with pre-incident state. Since the incident, cautious measures have been taken, including controlling the impact scope, identifying the cause, and collaborating with the board to develop a plan to protect user assets. Additionally, Taiko's CEO has submitted a formal report to the relevant Singapore authorities, and the team will fully cooperate to track down the responsible parties.