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Wallet DeFi News
On May, 11th a security incident affected TON-TAC asset bridge. Over the past few days, TAC team has been engaged in post incident efforts, which, four days after, have resulted in the return of approximately 80% of the affected assets.
Today, we are publishing the official post-mortem report detailing everything that happened behind the scenes of the incident.
The root reason traced to a single missing validation in our sequencer software: the responsible party deployed a counterfeit jetton wallet on TON, and the sequencer accepted the counterfeit tokens because it did not verify the sender wallet's code hash. The total loss was approximately $2.86M across USDT, BLUM, and tsTON.
Following a public appeal and subsequent recovery efforts, the assets under the responsible party's control were successfully secured, with approximately 90% returned to TAC-controlled multisigs on May 14th and the remaining 10% retained by the responsible party.
The bridge remains paused while the patched sequencer software is independently reviewed by our auditor and TON partners. We understand the urgency - affected users and integrated projects want the bridge back, and so do we. At the same time, security comes before speed.
Cross-chain operations will only resume once the fixed software has been fully verified and the imbalance has been closed using the recovered assets and the TAC Foundation's token reserve. Both steps take time due to coordination with multiple entities, and we are unable to provide precise timelines at this stage due to external dependencies. When operations resume, the change will be transparent to users with no action required from their side.
The remaining gap will be covered by the TAC Foundation treasury, ensuring zero financial impact on users or the protocol. Official updates are only posted through this account and our Telegram; any unsolicited "recovery" or "support" DMs are scams.
Thank you to the TON community and the broader TON and EVM ecosystems for their support.
Read the full post-mortem: https://tac.build/blog/post-mortem-report-tac-bridge
TAC has published an official post-mortem report on the bridge incident that occurred on May 11 between TAC ⟷ TON.
Around 90% of the affected assets have already been recovered. The remaining deficit is planned to be covered by the TAC Foundation reserve. TON Wallet users will not experience any financial losses.
Deposits and withdrawals for TAC-powered Earn strategies in TON Wallet remain temporarily paused pending the completion of an independent audit of the updated software. The expected recovery time is 2 weeks.
If you have any questions, reach out to @wallet_supportbot
Around 90% of the affected assets have already been recovered. The remaining deficit is planned to be covered by the TAC Foundation reserve. TON Wallet users will not experience any financial losses.
Deposits and withdrawals for TAC-powered Earn strategies in TON Wallet remain temporarily paused pending the completion of an independent audit of the updated software. The expected recovery time is 2 weeks.
If you have any questions, reach out to @wallet_supportbot
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