The Flow Foundation has dropped its plan to roll back the Flow blockchain after many community members raised concerns about decentralization and network security.
The decision followed a $3.9 million exploit reported on December 27 that caused the Flow
token to lose over 20% of its value within a day.
By December 29, Flow confirmed that it would not proceed with the rollback.
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Alex Smirnov, founder of bridge provider deBridge, announced in a post on X that there would be “no rollback” or chain reorganization in the revised recovery plan. He had called the original idea a “rushed decision” that risked causing greater financial loss.
Flow released a new recovery plan outlining several stages to restore operations. In the first phase, accounts affected by the attack were temporarily frozen, and Ethereum
Virtual Machine (EVM) actions were made read-only to prevent further damage.
The team stated, “There will be no chain reorganization. All legitimate transactions that occurred prior to the halt remain valid and will not require resubmission or reconciliation”.
According to Flow, completing the recovery steps will take several days. Once the first stage is done, the network plans to restart Cadence, its non-EVM chain, and reopen links between the bridge and exchanges.
Meanwhile, a technical issue in Prysm, one of Ethereum’s key consensus clients, recently caused an unexpected network slowdown. What did Ethereum developer Terence Tsao say? Read the full story.
