Dear Community Members,
We deeply understand the inconvenience caused to each of you by the mainnet suspension following the security incident in 2024. We sincerely apologize to all affected users and extend our heartfelt gratitude for your patience and support during this challenging time. Your trust remains our greatest motivation to improve and move forward.
Following the security incident, we promptly suspended network operations and initiated a comprehensive investigation and remediation process. Through these efforts, we have implemented necessary measures to ensure the security and integrity of the network. Basic blockchain mining and block production functionalities were gradually restored after the incident. However, to prevent unauthorized tokens from impacting user assets and the long-term health of the ecosystem, we made the difficult decision to temporarily suspend regular on-chain transactions. This decision, though challenging, was made with the utmost consideration for protecting user interests.
Thanks to collaborative efforts across multiple fronts, we plan to complete the following tasks in the next two weeks to fully prepare for the comprehensive recovery of the mainnet:
- Permanently burn unauthorized tokens on the chain.
- Collaborate with exchanges to recover and burn any returned abnormal tokens.
We anticipate fully restoring regular on-chain transaction functionality on February 11, 2025, ensuring users can safely and smoothly utilize the network. Upon completing the token destruction, we will provide a detailed disclosure of the destruction specifics and current circulation through an official announcement and on-chain verification, enhancing community trust.
Looking ahead, the team is fully committed to the development of Starcoin 2.0 and the expansion of our ecosystem. Our plans include optimizing network performance, enhancing smart contract execution efficiency, and deepening collaboration with ecosystem partners to drive the implementation of innovative applications. Our goal is to build a safer, more stable, and efficient blockchain network for the community, delivering an improved user experience.
Once again, thank you for your trust and support throughout this process. Starcoin has always upheld the core value of protecting the interests of its community members and will continue to strive to build a thriving blockchain ecosystem for you. We look forward to working hand in hand with the community to embrace a brighter future for Starcoin!
Thank you for your patience and support. We remain committed to optimizing the network and creating value for all users.
About Starcoin
Starcoin provides the utmost security from the origin via its enhanced PoW consensus and Secure smart contract, using the language of Move. Through layered and flexible interoperability, it optimizes the building of ecosystems such as DeFi, NFTs, Gaming, etc., with higher efficiency and convenience. This process redefines value by empowering every participant in the ecosystem to enjoy the multiplication of values.
Follow Starcoin on social media to stay up to date with all the latest developments.
Website | StarStack | Twitter | Medium | Telegram | Linktr.ee
