Taiko DAO Submits Contract Upgrade Proposal to Fix Cross-Chain Bridge Vulnerability
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Taiko DAO has submitted Proposal No. 24 to the Security Committee, planning to upgrade four proxy contracts for the cross-chain bridge and ERC20 Vault on both Ethereum and Taiko chains, and to register a new resolver on L2. The involved contract code has been audited, and TAIKO holders can exercise their veto rights within approximately 10 days. The proposal includes: fixing known vulnerabilities, addressing delivery failures when tokens are first bridged to Ethereum from Taiko due to the L1 registry pointing to an outdated implementation, with related messages currently in a RETRIABLE state, ensuring fund safety but tokens not being credited, allowing retries after the upgrade; increasing the gas limit for forwarding ETH via the cross-chain bridge from 35,000 to 135,000 to avoid issues with smart contract wallets being unable to claim messages due to insufficient gas after the EIP-8037 upgrade; adding a single-signature cross-chain function for ERC20 tokens, supporting EIP-2612 and Uniswap Permit2, allowing users to avoid initiating separate authorization transactions.
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The Taiko network has resumed operation, and cross-chain bridge assets have been restored to full 1:1 support
Taiko: The attack path on June 21 has been blocked, and the network will be restarted in four steps
Taiko released a security incident update, initiated testing of the repair plan, and will complete full collateralization of bridging assets before the restart
Taiko updates on the theft progress, the cause of the attack has been identified, and they are cooperating with CEX and security companies to recover the stolen assets
Taiko has thoroughly identified the root cause of the attack incident and developed a remediation plan
Taiko ERC20 Vault was attacked, resulting in losses exceeding 1 million dollars
