Flow, hit by hacking, launches two-stage recovery plan
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The Flow Foundation, which suffered a $3.9 million hack, is pursuing a two-phase recovery plan, Cointelegraph reported. The initial rollback was withdrawn following community backlash, and the plan is to burn unauthorized tokens. The Flow network has already completed normalization, starting with the non-EVM chain Cadence, and plans to restore the EVM chain within days. The outlet added, "The Flow hacker stole 150 million FLOW (approximately 10% of the supply), deposited it into an exchange presumed to be Binance, swapped it for BTC, and withdrew it. Consequently, there is a possibility that this could escalate into issues with the exchange's anti-money laundering and customer due diligence."
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