Ethereum Layer-2 Network Taiko Says Network Is Back Online
Summary
- Taiko, an Ethereum layer-2 network, said it has brought its network back online and that no one lost funds.
- Taiko said completion of steps two and three of the recovery process fully replenished bridge reserves, with all assets backed 1:1 by corresponding assets on Ethereum.
- Taiko said users can now send, swap and trade normally on layer 2, though the process to resume the bridge to Ethereum is still pending, and urged users to watch for fraudulent messages.
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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 one had lost funds.
The project said it had completed steps two and three of the recovery process it outlined earlier. 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 users can now send, swap and trade normally on layer 2.
The process to reopen the bridge to Ethereum is still pending. Taiko said the bridge would resume soon and that user funds would remain safe until then.
Taiko also urged users to watch for fraudulent messages. It said it would never send direct messages first and does not operate any claims or refund website, urging users to trust links only from its official account.
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