TAC Blockchain Frozen Over 10 Days After Exploit Forces 1.26 Billion Token Bailout
2d ago · 1 source · Summarised by CryptoBipto — how we make this
The TAC blockchain has remained halted for more than 10 days following a major exploit. The incident reportedly led to a bailout involving 1.26 billion tokens. The chain has not resumed normal operations as of the report's publication.
WHY IT MATTERS
When a blockchain gets 'frozen,' it means the network has been deliberately stopped so no one can send or receive tokens — similar to a bank temporarily closing its doors after a robbery. In this case, someone found a flaw in the TAC blockchain and exploited it, prompting the team to shut everything down to prevent further losses. The 'bailout' involved creating 1.26 billion new tokens, which is like a company printing new shares of stock to cover losses — it can reduce the value of shares that existing holders already own. This event highlights the risks that can come with newer or smaller blockchain projects, where a single vulnerability can disrupt the entire network for extended periods.
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