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 officially stated on X: "We have identified the root cause of this attack and are currently developing a fix to restore the blockchain's online operation as soon as possible. At the same time, we are working closely with major exchanges and security partners to track and freeze the hacker's assets. The remaining funds in the cross-chain bridge are currently safe, and we will announce the next steps in our upcoming updates. To focus on fixing the vulnerabilities and protecting user assets, we will pause updates for a few hours."

Previously, it was reported that the Taiko cross-chain bridge was attacked, with losses potentially reaching up to $1.7 million.