Taiko confirmed that there had been a serious security incident in its network and that the problem involved a chain certification mechanism. The project stated that all bridges deployed on the network should be considered unsafe until the survey was completed and that users should withdraw funds from the relevant bridges as soon as possible.
Can not open message
According to information disclosed by Taiko and the block chain security agency, Blockaid, the attackers exploited the defects of the agreement in the verification process. The problem arises in connection with the verification chain of the bridge-source signal, which allows specially designed messages to prove that they can be accepted as valid information on the side of the Taiko, even if no corresponding incident occurs on the Taiko chain.
This means that the attackers can falsify what appears to be a real bridge and use it to trigger the bridge contract to release the assets. Eventually, there was an unauthorized withdrawal from the ERC-20 treasury in Taiko.
The project owner asked the user to withdraw the funds
Taiko states that it is working with the Security Committee and the ecological partners to suspend, to the extent possible, the affected systems and to synchronize the technical and legal response. The project party also requested that the Central Chemical Exchange suspend the original Taiko token value until the risk range was assessed.
At the same time, Taiko stated that all its proposer had stopped producing new blocks to reduce further risks and maintain network integrity during the event.
The scale of loss is still not uniform
The amount of the loss is not yet uniform. Blockaid had earlier estimated that the stolen funds were approximately $1 million; Peck Shield subsequently stated that the total loss could be close to $1.7 million.
Peck Shield also found suspicious financial flows associated with the attackers, of which approximately 1.99 million Taiko coins were transferred to an address related to the MEXC exchange, valued at approximately $1.77 million by the medium of the text.
Additional information:Taiko went online to the main network in May 2024 and located it as the Layer 2 rollup based on the Ether. The focus of the follow-up to the incident will fall on the repair of loopholes, the tracking of funds and when bridge services will resume.