Flow scraps rollback after $3.9M exploit amid community pushback
The Flow Foundation has withdrawn a proposal to roll back the layer-1 Flow blockchain following community objections raised after a $3.9 million exploit. In an update posted on Monday, deBridge founder Alex Smirnov said there would be no rollback and no chain reorganization under the revised recovery approach.
Flow published a technical implementation plan outlining its initial response, which has included temporarily restricting accounts impacted by the exploit and placing Ethereum Virtual Machine (EVM) operations in read-only mode as part of phase one. The foundation said there will be no chain reorganization and that all legitimate transactions executed before the halt remain valid and will not require resubmission or reconciliation.
The updated plan follows criticism from users concerned about decentralization and network security after the initial proposal contemplated a chain rollback. On Sunday, Smirnov described the earlier measure as a rushed decision that risked causing financial harm exceeding the original exploit’s impact.
The exploit, disclosed on Saturday, and the initial recovery plan coincided with a decline of more than 20% in the price of Flow’s token, FLOW, over the prior 24 hours. As of publication, the token traded at $0.11, according to available market data.
Next steps in the recovery plan
Flow indicated that executing the remediation plan could take several days based on its published timeline. After phase one, the network expects to relaunch its non-EVM chain, Cadence, and restore bridge and exchange operations.
Find Labs, the team behind the Flow block explorer Flowscan, said on Monday that the response required coordinated efforts under pressure and noted the need to balance ecosystem feedback with timely decision-making.
The foundation cautioned that full recovery of affected assets is not assured. An additional update is expected within 24 hours.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
