Ethereum Layer-2 Network Taiko Says Network Back Online

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.

Taiko said it had completed steps two and three of the recovery process it had outlined earlier. 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 for moving assets between different blockchains. With the network restarted, users can again transfer, swap and trade normally on the layer-2 network, Taiko said.

The process of reopening the bridge connected to Ethereum has not yet been completed. Taiko said the bridge would reopen soon and that user funds would remain safe until then.

Taiko also urged users to watch for scams. It said it would never initiate contact through direct messages and does not operate any claims or refund website, and told users to trust links only from its official accounts.