Iron Fish has flagged abnormal wIRON minting activity on the Base network and initiated an emergency review with ChainPort. The project team warned users to avoid purchasing wIRON on Base or utilizing the cross-chain bridge until further notice, stating it cannot currently guarantee full 1:1 backing for the wrapped token.
The investigation remains ongoing, with Iron Fish promising updates once the facts are confirmed.
Iron Fish Investigates Abnormal wIRON Minting on Base, Urges Users to Halt Bridge Usage
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