Hassan Maishera
The MultiversX team announced via X on Sunday that it has confirmed that an actor attempted to exploit a VM-level atomicity issue. The attempt caused invalid state changes, and network progression remains paused to prevent any further impact. Engineering has prepared a fix and will validate it on a shadow fork.
Subject to successful testing, deployment to Mainnet will be coordinated with validators, exchanges, and infrastructure partners.
In parallel, the team is also evaluating a targeted recovery approach designed to preserve finalized transaction history and legitimate user state while addressing only incident-related invalid changes. No action is required from users beyond waiting for the all-clear.
The team has urged users to not submit or rebroadcast transactions, or use EGLD and ESDT deposit and withdrawal routes through exchanges or bridges until the fix is complete.
MultiversX is a high-throughput public blockchain focused on providing security, efficiency, scalability, and interoperability by employing two key elements: Adaptive State Sharding and a new Secure Proof of Stake ("SPoS") consensus mechanism.
MultiversX is a blockchain protocol that offers true horizontal scalability by using all aspects of sharding (Network, Transaction & State). The project describes itself as a technology ecosystem for the new internet, which includes decentralized finance, real-world assets, and the Metaverse. Its smart contract execution platform is reportedly capable of up to 100,000 transactions per second, 6-second latency, and a $0.002 transaction cost.
MultiversX is governed and secured through the EGLD token. EGLD, or Electronic Gold, is MultiversX's native token. It acts as a store-of-value currency to pay for network usage. The coin also serves as a medium of exchange between platform users and validators. Users pay transaction fees in EGLD, and validators participate in the consensus process.
EGLD allows developers to deploy smart contracts, protocols, and dApps on the platform. It empowers participants to perform any network action. Through staking and validation rewards, as well as transaction fees, EGLD manages the MultiversX network. Plus, EGLD is endowed with the functionality of a governance token, so its holders can vote on network decisions. EGLD is up 9.7% today and is trading at $4.13 at press time.
