More than 36 hours after the Maiar exchange suffered a security compromise, the Elrond team gave a tentative update on its revival. The price of eGold, Elrond’s native token, began dropping on Monday after the team announced about the bug.
Elrond Revival Soon
Following this, Beniamin Mincu, founder and chief executive officer of Elrond, informed his team was working on an emergency fix. In a latest update on the situation, he said the APIs and the Maiar exchange could be up very soon. He informed in a tweet,
“Solutions fully implemented, final tests being performed. APIs and DEX to be resumed during the next 4-8 hours. Hard times, we appreciate all the support. And are ready to move forward. Together.”
Mincu stated that the investor funds are safe. The problem has been identified, a solution has been deployed and we are ready to resume key modules, he added.
Exploited Funds Recovery
In a recent update on the extent of funds exploited during the compromise, the Elrond team issued a positive statement. It said most of the exploited funds were back in their control.
