The Zilliqa (ZIL) core team has announced that a critical issue saw the Layer-1 blockchain halt transactions earlier today. ZIL was trading lower near $0.022
Zilliqa hits technical problem: what happend?
A statement posted on X (fka Twitter) noted that the technical issue had interrupted block production on the network. However, Zilliqa assured users that all funds were safe as it looked into the technical issue that led to the halt.
“The network is presently experiencing a technical issue that has resulted in an interruption to block production. This unexpected challenge is our top priority and our technical team is working to identify and resolve the problem,” the update read.
Dear community, We are writing to inform you of a critical situation currently impacting the Zilliqa blockchain network.
The network is presently experiencing a technical issue that has resulted in an interruption to block production. This unexpected challenge is our top…
— Zilliqa (@zilliqa) December 18, 2023
As the technical team investigated the issue, users were advised to “temporarily halt any deposits or withdrawals on the network.” Nonetheless, in a bid to reassure its user community, the team said all funds were safe. They wrote:
“Funds are SAFU. If you can’t see funds in your wallet, you can always check it on-chain by going to viewblock.io/zilliqa, add your Zil address in search box & hit enter.”
Zilliqa price
ZIL price reacted lower after the news, although this coincided with a broader decline across the crypto market. Zilliqa was trading around $0.022 at the time of writing, about 6% down in the last 24 hours. The downward move saw ZIL/USD flip red over the weekly time frame.
The post Zilliqa team says funds SAFU after network halts transactions appeared first on Invezz
