A critical vulnerability in Taiko: a hacker compromised the L2 network verification mechanism, causing $1.7 million in damages.
On June 22, 2026, the team behind the Layer 2 (L2) solution Taiko confirmed the compromise of the blockchain state verification mechanism. This event instantly undermined trust in the security of the entire infrastructure deployed on the network.
As a result of the hack, developers stated that the protection of bridges operating on Taiko can no longer be relied upon. Users were strongly advised to immediately withdraw funds from all bridge protocols. The project is already coordinating actions with the security council and key ecosystem partners to contain the threat.
Centralized exchanges have also been requested to suspend deposits of the TAIKO token until official notification. This is a standard but extremely important measure to prevent further outflow of liquidity.
According to data from the analytical platform Lookonchain, the attacker stole native TAIKO tokens and various wrapped ETH (wETH). The total damage is estimated at approximately $1.7 million. Part of the stolen funds — 1.99 million TKO (about $189,000) — has already been deposited on the MEXC exchange. At the time of publication, the hacker still held 870.8 ETH (about $1.52 million).
The market reacted immediately: within 24 hours, the TAIKO rate fell by 11% — from $0.09 to $0.07. This clearly demonstrates how sensitive L2 project assets are to security incidents at the base protocol level.
It is worth noting that this is not the first bridge hack this season. Just three days before the Taiko incident, on June 19, the Axelar project disclosed an attack on the bridge with Secret Network, where the damage amounted to $4.67 million due to an "infinite mint" vulnerability.
Expert comment: The Taiko incident is another reminder that the security of L2 solutions directly depends on the correct implementation of state verification mechanisms. While teams focus on scaling and speed, fundamental vulnerabilities in bridge contracts remain the "Achilles' heel" of the entire ecosystem. Investors should pay closer attention to audits and liquidity timeframes when using cross-chain bridges.