IOTA developers restore network after outage

The IOTA blockchain project’s team has restarted the network after the outage that occurred on Thursday, 12 November. Users need to update to the latest version of the software, as stated on the service status page.

Earlier, the developers said that the issue was related to the Compass network coordinator—the mechanism stopped issuing checkpoints. According to The Tangle, the first checkpoint was set roughly 17 hours after the outage.

In February, IOTA developers halted asset transfers in the system and the operation of the coordinator after a hacker attack on 50 Trinity desktop wallet accounts. The damage was estimated at 8.55 million IOTA tokens ($2 million). The network was back online a month after the incident.

The founder of the project, David Sonstebo, promised to compensate users’ losses from his own funds.

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