IOTA says that at the moment, it is hard at work, trying to develop new channels its many customers can use to move their funds entirely from the wallets they currently have to new ones. This will be done to reduce the risk of any further losses. In total, IOTA lost about $2 million worth of funds to the breach.
Hours later, the Foundation then announced that it had shut down its Coordinator node, essentially taking the network offline. This was to prevent any more funds from being lost.
The IOTA network will be opened again, on March 2.
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