MultiversX said it plans a coordinated hard fork from known good checkpoints after what it described as an attack incident caused by an operational sequence error, adding that validators had contained the situation and that exchanges and cross-chain bridges would reopen in phases after the network restarts.

According to the project’s statement, the root cause of the incident was an operational sequence error rather than a still-undisclosed protocol failure. MultiversX said validators responded quickly and brought the situation under control, and it proposed a coordinated hard fork using known good checkpoints as the basis for recovery.

The project said the recovery process would first be rehearsed with validators on testnet and the development network. It also said the relevant code had been made public and that testing was still in progress. Until the recovery is officially completed, MultiversX told users not to submit or rebroadcast transactions.

MultiversX also said the attacker’s accounts had been identified and frozen on major exchanges, and that law enforcement agencies were involved. However, the statement did not specify which exchanges had frozen the accounts, which authorities were participating, or whether any assets had already been recovered.

The network’s operational guidance extended beyond on-chain activity. MultiversX said EGLD and ESDT should not be accessed through exchanges or cross-chain bridges before the official recovery notice, underscoring that the incident affects not only validator coordination but also third-party infrastructure connected to the chain.

Why It Matters

A coordinated hard fork for incident recovery is a high-stakes step for any blockchain because it tests validator coordination, exchange support, and user confidence at the same time. In this case, the recovery plan is not limited to patching code: it also depends on checkpoint selection, synchronized infrastructure action, and orderly reopening across trading venues and bridges.

The episode also highlights how security incidents can quickly spill into centralized market infrastructure. Even when a network says the situation is contained, exchange freezes, bridge restrictions, and law enforcement involvement can shape how smoothly assets move back into normal circulation once the chain restarts.