The cryptocurrency project Ontology (ONT) announced that it has temporarily halted block production due to a potential security threat detected on the network. The project team stated that they are acting in coordination with the vast majority of validators on the network to protect user assets.
According to an official statement from Ontology, the team received an urgent alert regarding a potential security vulnerability associated with a project being developed on the blockchain. Given that this security risk could threaten assets on the network, it was decided to suspend block production as a precautionary measure.
The Ontology team stated that the vast majority of consensus nodes have agreed to temporarily halt block production. This decision was made to facilitate the investigation of potential threats and prevent possible harm.
The team announced that the security investigation is ongoing, and that cooperation with relevant parties will continue, with developments being closely monitored. They added that block production will only begin after sufficient progress has been made in the investigation and it is deemed safe to restart the network.
*This is not investment advice.
