Taiko Says Ethereum Layer-2 Network Is Back Online
Summary
- Ethereum layer-2 network Taiko said it has brought its network back online and that no users lost funds.
- Taiko said completion of steps two and three of its recovery process fully replenished bridge reserves, with all assets backed 1:1 by corresponding assets on Ethereum.
- Users can now transfer, swap and trade normally on the layer-2 network, while the bridge reopening to Ethereum is set to take place soon and user funds remain safe until then.
Forecast Trend Report by Period
Taiko, an Ethereum layer-2 network, said it has brought its network back online.
In a post on X on June 30, the project said it was back online and that no funds had been lost.
Taiko said it had completed steps two and three of its previously announced recovery process. Bridge reserves have now been fully replenished, it said, and all assets are backed 1:1 by corresponding assets on Ethereum.
A bridge is a channel used to move assets between different blockchains. With the network restarted, users can once again transfer, swap and trade on the layer-2 network, according to Taiko.
The process of reopening the bridge to Ethereum has not yet been completed. Taiko said the bridge would resume soon and that user funds would remain safe until then.
The project also urged users to be cautious of scams. It said it would never send direct messages first and does not operate any claims or refund website, urging users to trust only links from its official account.
Bloomingbit Newsroom
news@bloomingbit.ioFor news reports, news@bloomingbit.io