The TON ecosystem asset bridge project, TAC, has disclosed a security incident that occurred on May 11, resulting in the loss of approximately $2.86 million in USDT, BLUM, and tsTON. The breach was caused by a lack of sender wallet code hash verification in the sequencer software, allowing attackers to deploy fake Jetton wallets on TON and inject counterfeit tokens. Following public appeals and recovery efforts, TAC has successfully retrieved about 90% of the lost assets, which were returned to a multi-signature wallet controlled by TAC on May 14. The remaining 10% is still held by responsible parties. TAC has paused cross-chain operations pending an independent audit of the updated sequencer software and the replenishment of asset gaps with recovered funds and TAC Foundation reserves.
TAC Recovers 90% of Assets After $2.86 Million Security Breach
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