Taiko updates on exploit progress: Root cause identified, cooperating with CEXs and security firms to trace funds

Taiko official posted on X: "We have identified the root cause of this attack and are currently developing a patch to restore the blockchain's online operations as soon as possible. At the same time, we are working closely with major exchanges and security partners to track and freeze the attacker's assets. The remaining funds in the cross-chain bridge are currently safe, and we will announce the next steps in an upcoming update. To focus on fixing the vulnerability and protecting user assets, we will pause updates for a few hours."

Previously, Taiko's cross-chain bridge was attacked, with potential losses of up to $1.7 million.