Taiko’s cross-chain bridge is back online. The Ethereum Layer 2 rollup has completed its recovery from a June 21 exploit that drained roughly $1.7M from its bridge and ERC20 Vault contracts, and the team says no user funds were lost in the process.
The reopening caps off a methodical, multi-stage recovery effort that included halting the entire network, replenishing bridge reserves to full 1:1 backing, and subjecting the fix to an independent security review before flipping the switch back on.
What happened on June 21
The exploit was traced to a flaw in Taiko’s chain-state and proof verification processes. Specifically, a compromised SGX signing key had been mistakenly posted to GitHub, which gave the attacker the ability to forge withdrawal proofs and siphon assets from the bridge.
Approximately $1.7M was stolen. The attacker subsequently transferred around 2M TAIKO tokens, worth roughly $170K at the time, to the MEXC exchange.
