The IOTA Network Remains Inaccessible for Value Transactions

The cryptocurrency industry is still reeling from the recent IOTA incident. It now seems a bit more information is becoming available.

The Trinity wallet so many IOTA users rely on has indeed been affected by a bug.

IOTA Network Issues Aren’t Over yet

All users utilizing this software between mid-December 2019 and mid-February 2020 will need to migrate their seed as soon as possible.

That tool is still under development right now, with no ETA provided just yet.

A new mobile wallet for the users has been released on both Android and iOS.

Although the incident may not have affected these users, upgrading is still advised to avoid any potential problems.

What is rather interesting is how the new Trinity client no longer supports MoonPay.

A secret vulnerability was allegedly introduced due to this particular integration. 

It is unclear if this is what has caused the major network bug, as an official incident report has yet to be written. 

The team is still in contact with law enforcement to monitor the situation.

That seems to confirm that the IOTA network may continue to suffer from minor availability issues for some time to come.

Until further notice, the IOTA main net will not process value transactions.

That situation has remained unchanged for nearly a week now. 

Image(s): Shutterstock.com

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