On March 8th, the Bittensor (TAO) blockchain temporarily suspended due to multiple user wallets being attacked, resulting in at least one loss of 100,000 USD.
Price After Attack
TAO
plummeted by as much as 15% to 227 USD, but had a slight recovery to 238 USD at the time of writing, with the platform ensuring measures have been taken to prevent further incidents.
“We are conducting an investigation, and as a precaution, we have fully halted on-chain transactions until we have more information about the attack,” wrote a core team member of Bittensor on the project’s Discord channel.
Co-founder Alaa Shaabana later confirmed that the network had been “simplified to a ‘secure mode’,” meaning no transactions would be processed while blocks were still being generated.
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Blockchain
Tracking of the Bittensor network indicates that the final transactions and blocks were processed around 3:00 AM GMT on February 20th.
Independent security analyst ZachXBT
reported
on his Telegram channel that a user had lost 32,000 TAO, worth 80,000 USD at the time, and suggested that a leaked private key may have led to the attack.
