Taiko urges immediate withdrawal of funds from all its bridges after chain verification breach

Taiko warns users to withdraw from bridges after a verification compromise and reported ERC20 Vault losses above $1M. Taiko has issued an urgent security warning after confirming a compromise in its chain state verification mechanism.  The project said the issue affects the trust model behind bridges deployed on Taiko. The team warned that users can […] The post Taiko Bridge Security Compromise Triggers Urgent Withdrawal Warning appeared first on Live Bitcoin News.

Ethereum scaling solution Taiko confirmed that its bridge source-signal proof validation mechanism was compromised, allowing hackers to bypass protocols and drain an estimated $1.7 million from its ERC-20 vault. Technical Flaw Leads to $1.7 Million Loss Ethereum scaling solution Taiko confirmed June 22 that its chain state verification mechanism had been compromised. As a consequence, […]

Yet another security incident has been reported today, where popular Ethereum L2 network Taiko was exploited for around $1.7 million.

Taiko urged users to withdraw bridge funds after a verification mechanism compromise, while Blockaid reported more than $1m in vault losses.

Taiko’s bridge and ERC20 Vault on Ethereum suffered a compromise in its chain state verification mechanism, allowing forged proofs and unauthorized withdrawals.

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