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IOTA Relaunched Its Network After February Incident

11 March 2020 15:37, UTC
IOTA Relaunched Its Network After February Incident
By Anna Martynova

Almost a month after the attack, the IOTA Foundation launches its network. In its blog post of March 10, the IOTA Foundation reports that the Coordinator application is rebooted. 8.55 million MIOTA ($2 million) was stolen from 50 users of the Trinity Wallet. During the week after the hacking incident, the IOTA Foundation encouraged users to use the migration tool to transfer their tokens to new and secure accounts. Following the attack, IOTA announced its strategy to minimize such incidents in the future:

“The IOTA Foundation is overhauling its internal processes, with upcoming changes to software security practices, improvements to our security capabilities and resources, and expansion of our efforts in education and best practices for any software that handles user accounts on the IOTA network.”

At the moment, the person who caused the incident is not identified yet. However, the IOTA team said it would continue to work with the FBI, as well as with the British, German and Maltese police to capture the attacker. Five days ago, David Sønstebø, the founder of IOTA, offered to compensate the victims of the hack.

Image courtesy of Coinfomania



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