Express

Iota Set To Relaunch Network In One Week

Ramsey Baker

Summary: Iota (MIOTA) started its seed migration period on Feb. 29 and plans to reopen their network around March 10. Despite the criticism the company faced for the decision to close the Coordinator, it may have possibly saved many users’ funds from being stolen. Iota shut the network off on Feb. 12, after the team received ...

Iota (MIOTA) started its seed migration period on Feb. 29 and plans to reopen their network around March 10. Despite the criticism the company faced for the decision to close the Coordinator, it may have possibly saved many users’ funds from being stolen.

Iota shut the network off on Feb. 12, after the team received reports of drained user wallets. This was only made possible by the presence of the Coordinator, a centralized transaction verifier that is necessary to operate the network. This shutdown prevented the attacker from draining any more user wallets and gave the team time to investigate.

By Ramsey Baker

Last Update:

Tags: ,,,
Link: Iota Set To Relaunch Network In One Week   [Copy]
Next:

Related Articles

  • GAEA Chat Singapore Concludes Successfully - A Recap of the Industry Thought Feast Duri... 9 days ago
  • U.S. SEC Clears Path for Institutional Crypto Custody, Recognizing State Trust Companie... 13 days ago
  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 28 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? September 9, 2025
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules September 5, 2025

    • You need to login to comment.