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Bittensor Blockchain Faces Attack on User Wallets

user avatar

by Giorgi Kostiuk

2 years ago

Bittensor Blockchain Faces Attack on User Wallets

The Bittensor blockchain encountered a significant event with an assault on multiple user wallets. According to a statement from a community administrator within the Tao Community Discord, the TAO Foundation has initiated an investigation into the recent attacks on several Bittensor wallets.

As a precautionary measure, all on-chain transactions were swiftly suspended until further details about the attack could be gathered. Reports indicated that an amount exceeding $8 million worth of TAO tokens was illicitly withdrawn from one of the wallets.

A member of the Bittensor core team addressed the incident, commenting on the ongoing investigation. The team made a decision to halt all on-chain transactions temporarily to await additional information regarding the attack's specifics.

At the time of writing, the value of TAO had depreciated by 11.3% within the past 24 hours, with the cryptocurrency trading at $239.

Disclaimer: This article does not provide investment advice.

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