Flow advances recovery plan, raises exchange concerns after $3.9M exploit
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The plan to address a multimillion-dollar exploit continued with "phase two progress" on EVM after it scrapped a plan to roll back the blockchain.
The Flow Foundation is continuing to implement a remediation plan in response to a $3.9 million exploit of the blockchain on Saturday, flagging concerns about large token movements on a centralized exchange.
In a Thursday X post, Flow said it had made “significant progress” in its recovery plan, now entering phase two and expected to take several days. According to the platform, developers had “identified a path to restore EVM [Ethereum Virtual Machine] functionality” as it addressed its non-EVM chain, Cadence.
“The Community Governance Council continues executing cleanup transactions under validator-authorized boundaries, consistent with established precedents for digital asset recovery,” said Flow. “All remediation activity is publicly auditable on-chain through block explorers. Cadence and EVM remediation will now proceed simultaneously.”
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