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IOTA Network Still Down: How the Next Bitcoin Killer Screeched to a Halt

14 Feb IOTA Network Still Down: How the Next Bitcoin Killer Screeched to a Halt

Posted at 23:16h in Bitcoin News by

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IOTA Network Still Down: How the Next Bitcoin Killer Screeched to a Halt

On February 13, the IOTA network came to a screeching halt and the IOTA Foundation reports that $1.6 million worth of the native currency was stolen. The following day, the IOTA network status page still shows the mainnet is “not operational” and the development team has found an “exploit related to the Trinity Wallet.”

Also Read: IOTA, EOS, XLM, ADA – 4 ‘Bitcoin Contenders’ With Zero Use Cases and Barely Any Infrastructure

IOTA Trinity Wallet Compromised for $1.6M

The IOTA network is a hot topic within the cryptocurrency community right now, with people discussing the network’s recent outage. At the time of publication, IOTA’s network status page says “Mainnet (1341599), Not operational, TPS: 0.6500.” Alongside this message are multiple status updates from the core development team. At first, the team heard several reports of theft and decided to warn people using Discord and Twitter.

IOTA Network Still Down: How the Next Bitcoin Killer Screeched to a Halt

The developers also said: “As a…

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