Transactions of the IOTA network have resumed. The network was completely disabled for about a month after a major security breach and no transactions were made. Although network conditions are back to normal, IOTA has a long way to go to regain its lost reputation.
Following the hacking of one of IOTA’s major wallets, Trinity, and theft of $ 1.2 million from users, the IOTA’s Foundation, which is responsible for monitoring network status, suspended transactions for five days. Kurdish.
To restore security, the IOTA team quickly developed a seed migration tool so users could move their funds to new, secure sites. Users had the opportunity to do so until March 1. Now, after a few days of processing information, the IOTA Foundation has re-activated the network’s transactions. The foundation recommends that IOTA owners who have not used Sid’s transfer tool manually move their assets to New Sid.
IOTA’s co-founder David Sønstebø has announced that he is willing to pay the victims of the hacking personally. However, he did not disclose how. Too many Sid are still at risk, and it’s not clear exactly how much IOTA has lost.
Although the IOTA’s Foundation has accepted responsibility for this event and its supporters have defined the discipline and skill of the Toyota team in the face of hacking, the situation for this digital currency is not yet in place. One of the most important problems that may have been with the hacking of IOTA is probably the reputation and reputation of the network. This is not the first time that Toyota has encountered a security problem. In year 3, a Seed Generator website robbed at least $ 5 million of IOTA users.
Now, hacking into IOTA’s original wallet and one-month shutdowns for a seemingly decentralized network whose digital currency was once among the top five digital currencies on the market is simply not to be forgotten.
The price of Toyota, which once had a lot of investors, has fallen by about 2% since the recent hacking and over the past month.
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