Taiko says network resumes after security incident, bridge fully recollateralized
Taiko said the June 21 attack path was closed after independent security review, assets remain 1:1 backed on Ethereum, and transfers, swaps, and trading have resumed while the bridge prepares to reopen.
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Fact Check
Taiko's official X post (@taikoxyz, 2026-06-28) directly supports every element of the claim: the June 21 attack path is closed after independent security review, all L2 assets are backed 1:1 (recollateralized bridge), and L2 transfers/swaps/trading are restored as step 3 while bridge reopening is prepared as step 4. The odaily newsflash corroborates and links to this exact post, and CoinDesk independently confirms the underlying June 21/22 exploit and network halt. The claim accurately reflects the official announcement.
Summary
Taiko said it has resumed network operations following the June 21 security incident after closing the attack path and obtaining independent security review of its remediation plan. The project said its cross-chain bridge has been fully recollateralized, with all Layer 2 assets remaining 1:1 matched with corresponding assets on Ethereum. Users can now transfer, swap, and trade normally, while the Ethereum bridge is being readied to reopen and bridge withdrawals are expected to return with initially conservative limits.
Terms & Concepts
- cross-chain bridge: Tool for moving assets between blockchains.
- recollateralized: Backed again with sufficient reserve assets.
- Layer 2: A network built on top of another blockchain to improve throughput or reduce costs.