Share this article
IOTA Foundation Suspends Network, Probes Fund Theft in Trinity Wallet
The German nonprofit, which supports several decentralized platforms, said it received several reports of fund theft from its Trinity Wallet users and decided to shut off the Coordinator node in the network for further investigation.
By David Pan
Updated Sep 13, 2021, 12:17 p.m. Published Feb 13, 2020, 11:22 p.m.
IOTA Foundation, the nonprofit behind the IOTA distributed network, recommended users close their Trinity wallets Thursday after multiple reports of fund theft.
STORY CONTINUES BELOW
IOTA said it started receiving the reports Wednesday and decided to shut off the Coordinator node in the network for further investigation.
The foundation is evaluating an exploit on an earlier version of its wallet. It is also trying to analyze the hackers’ attack pattern and complete a manual verification, according to the foundation’s latest statement.
“First (but not all) exchanges have responded, reporting that no monitored funds have been transferred or liquidated,” the foundation said.
“Most evidence is pointing towards seed theft, cause still unknown and under investigation,” the foundation said earlier. “Victims (around 10 that identified with the IOTA Foundation so far) all seem to have recently used Trinity.”
On Twitter, IOTA said it is working with law enforcement and cybersecurity experts to investigate a coordinated attack that resulted in stolen funds.
Dominik Schiener, co-founder of the IOTA Foundation, did not respond to request for comments before the press time. CoinDesk will add updates as the story develops.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
ZKsync Lite to Shut Down in 2026 as Matter Labs Moves On
The company framed the move, happening in early 2026, as a planned sunset.
What to know:
- Matter Labs plans to deprecate ZKsync Lite, the first iteration of its Ethereum layer-2 network, the team said in a post on X over the weekend.
- The company framed the move, happening in early 2026, as a planned sunset for an early proof-of-concept that helped validate their zero-knowledge rollup design choices before newer systems went live.
Top Stories
