- deBridge founder Alex Smirnov urged Flow validators to pause processing until a remediation plan is issued.
- The request follows a rollback after a Dec. 27 exploit that siphoned about $3.9 million via cross-chain bridges.
- The Flow chain has been stuck at block 137,385,824 since 11:24 PM UTC on Saturday, according to block data.
- Flow said a restart was expected within hours, while the token has fallen about 42% since the incident, per market data.
deBridge founder Alex Smirnov urged validators on the Flow blockchain to stop processing transactions until the Flow Foundation lays out a remediation plan, according to a public post by Smirnov (called). The request follows a rollback triggered after an attacker exploited a flaw in Flow’s execution layer on Dec. 27, stealing about $3.9 million and moving funds off-chain through multiple cross-chain bridges.
Blockchain monitoring shows the network stalled at block height 137,385,824 since 11:24 PM UTC on Saturday, as reported in block data. The Flow Foundation said the chain was expected to restart within four to six hours (stated). Market data indicates the FLOW token has fallen roughly 42% since the attack (CoinGecko).
Smirnov raised concern about users who bridged assets out during the rollback window and urged clarity on handling doubled balances, linking his follow-up comment on exchange handling (noted). He criticized the decision as rushed and warned of broader effects on bridges, custodians, users, and counterparties. The exact words were: “A rollback introduces systemic issues that affect bridges, custodians, users, and counterparties who acted honestly during the affected window.”
Gabriel Shapiro, general counsel at Delphi Labs, also criticized the response, saying: “They are creating unbacked assets to cover their asses and expecting bridges and issuers to take the hit or perform their own separate mitigations.” His comment is available here.
Dapper Labs, creator of the Flow blockchain, said no user balances or assets were affected, including its treasury (stated). The chain hosts about $85.5 million in value locked (DeFiLlama) and the FLOW token market cap is about $167.3 million, per available data.
Definition: A rollback is the reversal of confirmed blockchain transactions; a cross-chain bridge is a tool that moves assets between different blockchains.
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