Taiko reopens Ethereum Layer 2 bridge after exploit, TAIKO token jumps

Taiko has reopened its bridge, completing what it described as the final stage of recovery from last month’s exploit on the Ethereum Layer 2 network. The project said its response is complete, the network is fully restored, user asset states are consistent, normal use is unrestricted, and all affected users have been made whole. The recovery process also included an independent security review. Following the update, TAIKO rose more than 75% in 24 hours to $0.2, lifting its market capitalization to $44 million, and at one point traded up as much as 136%, suggesting renewed market confidence. Taiko said a full post-mortem on the exploit will be released soon.