Taiko Restores Cross-Chain Bridge After $1.7 Million Hack
Taiko has restored its cross-chain bridge within ten days following a $1.7 million hack, as reported by CoinDesk. The protocol's recovery included a multi-stage process and an independent security review, leading to a notable 136% surge in its token value.
Taiko has successfully reopened its Ethereum layer-2 cross-chain bridge just ten days after a hack on June 22, 2026, which resulted in an estimated loss of $1.7 million. The protocol's rapid response included halting operations immediately after the attack, which exploited a compromised secure enclave (SGX) signing key that was inadvertently exposed on GitHub. This vulnerability allowed the attacker to forge withdrawal proofs, leading to the theft from the bridge and ERC20 Vault contracts.
In a notable quick recovery, Taiko assured that all affected users have been compensated. The multi-stage recovery involved patching the identified vulnerability, restoring bridge reserves to a full ratio of 1:1 backing, reinstating layer-2 network activity, and undergoing an independent security review. The protocol has reopened the bridge with conservative withdrawal limits to maintain operational stability moving forward. Acknowledging the challenges of bridge exploits arising from exposed keys, Taiko's swift action has garnered respect within the crypto community.
"The bridge is open," Taiko announced via social media, confirming that users can again move funds to and from the Taiko network. The message emphasized that measures are in place to ensure user safety post-incident, including alerts against scams. Taiko also stated that a full post-mortem analysis of the incident will be shared soon.
The positive response from the market is evident in the significant increase in the value of the TAIKO token, which surged by as much as 136% in recent trading sessions. This spike reflects heightened confidence among investors after the protocol's effective containment of the incident and its commitment to user protection.
As Taiko resumes operations, it sets a benchmark for how quickly protocols can respond to security breaches. Observers will be watching for Taiko's upcoming post-mortem report, as well as the continued performance of the TAIKO token in a market that is still grappling with the implications of security vulnerabilities in cross-chain operations.
Summary based on original reporting by Omkar Godbole at CoinDesk, originally published Jul 2, 2026. SolanaWire does not republish source content.
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