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Taiko, an Ethereum layer-2 project, has resumed bridge operations about 10 days after a major hack hit the platform. The recovery news sent the Taiko token sharply higher.
CoinDesk reported on July 2 that Taiko’s cross-chain bridge had been fully restored. Users can now move funds to Taiko or withdraw them. The project also said the network had recovered and all user losses had been reimbursed.
Taiko was hacked on June 22, with about $1.7 million stolen from the project. Bridge operations have since resumed with withdrawal limits still in place.
The market reacted immediately to the restoration. According to CoinMarketCap, Taiko surged more than 90% at one point on July 2 from a day earlier.
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