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Taiko urges fund withdrawal after bridge security breach exposes $1M loss risk

Market News
22 Jun 2026
Crypto news
View Source
Bearish
pluang ai news

Taiko, an Ethereum Layer 2 project, confirmed a security breach in its chain state verification mechanism affecting its bridge system. This flaw allowed attackers to exploit the ERC20 Vault on Ethereum, causing losses exceeding $1 million. Taiko has halted block production and urged users to withdraw funds from all bridges, while exchanges suspend TAIKO deposits. The team is working with security partners to resolve the issue but has not provided a timeline for restoring full functionality.

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