The Bittensor team detected suspicious activity on Wednesday morning, prompting an immediate suspension of all network operations. Blockchain explorers confirm that no new blocks have been generated for over six hours, effectively putting the network in “safe mode” and blocking all transactions.
This swift action was taken as a precautionary measure to prevent potential further damage. The market responded quickly to the news, with the TAO token experiencing a significant 12% price drop, reflecting investor concerns about the network’s security.
Network Security Breach, Investigation and Community Response
While official details remain limited, early reports suggest the attack may have involved unauthorized access to user wallets. Security researcher ZachXBT has proposed that a leak of private keys, which function as passwords to crypto wallets, might be the root cause. Bittensor co-founder Ala Shaabana confirmed the network halt and assured users that the situation is under cont
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