Taiko Chain's Proof of State mechanism has been compromised, and users are advised to immediately withdraw funds from the cross-chain bridge.

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BlockBeats News, June 22nd, Taiko announced on X platform that its on-chain state verification mechanism has been compromised, rendering the security assumptions of all cross-chain bridges deployed on Taiko unreliable.

Taiko stated that it is coordinating with the Security Committee and ecosystem partners to manage the situation, suspending affected systems, and taking technical and legal actions. Taiko strongly advises all users to immediately withdraw funds from the cross-chain bridges deployed on Taiko.

Furthermore, Taiko urgently requests all centralized exchanges to suspend TAIKO token deposit services until further official notice. Previously, the Taiko ERC20 Vault was attacked, resulting in a loss of over $1 million.

Source: BlockBeats

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