Taiko has fully reopened its cross-chain bridge after restoring asset backing and completing security checks following a $1.7 million exploit. Its TAIKO token climbed 136% during the recovery period.
Taiko has fully reopened its cross-chain bridge after restoring asset backing and completing security checks following a $1.7 million exploit. Its TAIKO token climbed 136% during the recovery period.
TAIKO rose 136% as the network recovered and bridge services returned. The rally followed an earlier decline after the breach, reflecting a sharp shift in market sentiment around the project’s restoration efforts.
Taiko has fully restored its cross-chain bridge, completing a staged recovery 10 days after an attacker drained about $1.7 million from the Ethereum layer-2 network’s bridge and token vault. The project said user assets remain fully backed and bridge transfers are available again.
The reopening restores a key route for moving assets between Taiko and Ethereum. Cross-chain bridges are critical infrastructure for layer-2 networks, but their handling of messages and withdrawal proofs has also made them frequent targets for attackers.
The exploit allowed fraudulent withdrawal requests to be accepted on Ethereum without corresponding deposits on Taiko. In response, the team halted block production, suspended bridge activity and worked to prevent further outflows.
Taiko subsequently deployed a fix, verified the chain’s final state and replenished bridge reserves to provide 1:1 backing for assets. The recovery plan also underwent an independent security review before the bridge was reactivated with controlled withdrawal limits.
TAIKO rose 136% as the network recovered and bridge services returned. The rally followed an earlier decline after the breach, reflecting a sharp shift in market sentiment around the project’s restoration efforts.
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