Taiko restarts network, completes 1:1 bridge collateral restoration

Ethereum Layer 2 project Taiko announced it has restarted its network after fully restoring its bridge collateral on a one-to-one basis. In a post on X, the project stated that all assets now correspond one-to-one with those on the Ethereum network, allowing users to resume normal transfers, swaps, and trades. Taiko added that its Ethereum bridge is scheduled to reopen soon. The network restart follows a phased recovery plan Taiko unveiled after a $1 million exploit occurred in one of its vaults on June 22.