Key Takeaways:
On June 22, hackers exploited a flaw in Taiko’s bridge proof validation to drain a total of $1.7 million.The TAIKO token faced massive market volatility, briefly spiking before sliding by over 10%.Taiko successfully contained the incident and maintains a request for CEXs to freeze deposits for now.On Coingecko, the platform token initially appeared to surge on the news, rising from $0.0842 to nearly $0.097 before sliding to $0.075 cents, a drop of approximately 10%. However, according to one social media user, Vietnam Penguin, the token went as high as $0.0133 —an approximately 100% jump—before it began descending.
“We are actively coordinating with the Security Council and ecosystem partners to contain the incident, pause affected systems where possible, and take all necessary technical and legal action. We strongly advise all users to withdraw their funds from all bridges deployed on Taiko immediately,” Taiko said.
