Insight: Flow Blockchain Rollback Decision Made Without Major Bridge Partner Communication, Potential Economic Loss Far Exceeds Vulnerability Itself
BlockBeats News, December 28, deBridge co-founder Alex Smirnov posted on the X platform stating that the Flow team has decided to roll back the blockchain and claimed to be in a forced sync window with key ecosystem partners (bridges, centralized exchanges, decentralized exchanges). As one of the main bridge providers for Flow, deBridge has not received any communication or coordination from the Flow team, posing significant risk. Alex Smirnov stated that the hasty chain rollback could result in economic losses far exceeding the impact of the original attack, introducing systemic issues that would affect bridges, custodians, users, and counterparties who acted honestly during the affected window. Alex Smirnov urged all Flow validators to cease transaction validation on the rollback chain until clear compensation plans, ecosystem partner coordination, and security team involvement are established. Current RPC responses indicate that the Flow status has been rolled back but is not yet accepting new transactions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Institution: New Zealand May Face Surging Interest Rates Due to Remarks
The top 5 speakers to watch closely this week
Bank of Japan passes interest rate decision with a 6-3 vote
Trending news
MoreKrishna Bhimavarapu from State Street Global Advisors said that the decision by a certain exchange to keep interest rates unchanged was a difficult choice, especially as three committee members voted against it, which was surprising. Additionally, the upward revision of the inflation forecast by the bank was also unexpected.
Institution: New Zealand May Face Surging Interest Rates Due to Remarks
