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Layer-1 blockchain project Iron Fish said on its official X account it will fully halt network support after an attack exploited a vulnerability in its blockchain.
Iron Fish said it recently detected abnormal activity involving the wrapped token wIRON and the ChainPort bridge. An investigation found the cause was a flaw in Merkle tree implementation code written in early 2019. The attacker used the vulnerability to repeatedly reuse the same asset and then siphon funds out through the ChainPort bridge. Iron Fish added the code had undergone both internal and external security audits, but the vulnerability was not identified.
The project said it plans to apply code fixing the vulnerability, publish an incident analysis report, archive its code repository, and end network support.