It is stated that the IOTA network, which is the 24th largest cryptocurrency in the world and has many important partnerships, will be reactivated at the end.
IOTA will finally be active again
It was decided to pause the network due to the attack on IOTA about 17 days ago. At that time, user funds in the Trinity wallet on the network were reported to have been stolen. The Coordinator node, controlled by the IOTA Foundation, was closed and did not open for a long time.
In a statement made today, it was announced that users could transfer their assets to a much more secure and uninjured wallet infrastructure instead of Trinity wallet. IOTA stated that this was done to prevent further attacks and that the vehicles in question were not open source.
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Stating that the application has gone through security audits by third parties, IOTA announced that the network will be reinstated within 10 days. It was stated that the users will be transitioned between February 29 and March 7 first, the KYC process will continue, and finally the network will be activated.
As of March 10, IOTA will restart the network and open the way for users to make transactions once again. The fact that IOTA closed the network for almost 4 weeks caused serious criticism about decentralization. The fact that IOTA's infrastructure, which was not attacked before, was attacked, also seriously damaged the reputation of the foundation and the project.
Once the network is active, the price can move upwards and this can make criticism lag.
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