Taiko released a security incident update, began testing the repair plan, and will complete the full collateral of the bridged assets before the restart

Comparing news, the Ethereum Layer 2 project Taiko released the latest developments in the security incident, pointing out that the incident will not cause any loss of user funds. Currently, the bridging assets are undercollateralized. In the future, all supplementary collateral will be completed before the bridge is reopened to ensure that each user's balance receives 1:1 support, which is exactly the same as before the incident occurred.

Since this security incident occurred, careful measures have been taken, including controlling the scope of impact, determining the cause of the incident, and collaborating with the board of directors to develop plans to protect user assets. Furthermore, CEO Taiko has submitted an official report to the relevant departments in Singapore, and the team will fully cooperate in tracking down the relevant responsible parties. There is currently no need for users to take any action. At this stage, the completed repair plan is being tested, and the chain and bridge service will be reopened as soon as security is ensured. At the same time, users are reminded to be wary of scams. The Taiko team will not actively trust users, and there are no receipt or refund websites. Any such link is a fraud.