Cosmos Network Halts Operations Following EVM Security Incident

The Cosmos network recently experienced an EVM (Ethereum Virtual Machine) security incident that forced multiple chains to halt operations. The affected networks, including KiiChain, TAC, and MANTRA, were instructed by Cosmos Labs to stop their chains in order to contain the issue.

KiiChain was the most severely impacted chain, losing 148.3 million KII tokens across 18 attacks before validators halted the network. Although more than half of the stolen funds can be recovered since they did not leave the chain, with 80.7m KII or 54% of the exploited tokens being recoverable.

MANTRA was able to avoid losses by pausing operations for 30 hours and deploying Cosmos EVM version 8.4.0, but it is still unclear what the root cause of the vulnerability is. The incident remains open until Cosmos Labs publishes a full report on the issue.