Taiko Says Network Back Online, No User Funds Lost
Summary
- Taiko said it has brought its network back online and that no users lost funds.
- Taiko said it completed steps two and three of its recovery plan, fully replenished bridge reserves, and said all assets are backed 1:1 by corresponding assets on Ethereum.
- Taiko said the bridge reopening connected to Ethereum will take place soon and that user funds will remain safe until then.
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Taiko, an Ethereum layer-2 network, said it has brought its network back online.
In a post on X on June 30, Taiko said it was back online and that no users had lost funds.
Taiko said it had completed steps two and three of its previously disclosed recovery plan. As a result, bridge reserves have been fully replenished and all assets are backed 1:1 by corresponding assets on Ethereum.
A bridge is used to move assets between different blockchains. Taiko said the network has resumed operations, allowing users to transfer, swap and trade on the layer-2 network as usual.
The process of reopening the bridge connected to Ethereum has not yet been completed. Taiko said the bridge would resume soon and that user funds would remain safe until then.
Taiko also urged users to watch for scams. It said it would never initiate direct messages and does not operate any claims or refund site, urging users to trust links only from its official account.
