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Crypto

Cosmos ATOM Recovery Halted by Governance Hold-Up

Guavy AI Editorial Team
Instruments
ATOM OM
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A major recovery effort is underway for Cosmos' ATOM token after a recent hack.

Validators intercepted approximately 1.23 million stolen ATOM, which have been moved to a recovery multisig address.

However, affected holders cannot claim the funds yet as a governance mandate is still required before funds can be returned.

A Cosmos Hub proposal must authorize the transfer from the recovery multisig, but no such mandate had passed as of September 26 at 15:40 UTC.

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