All user funds are safe following the network halt, according to the Bittensor team.
Bittensor was forced to halt its network activity on July 3 following a series of wallet drains that stole at least $8 million worth of digital assets.
The network outage aiming to contain the exploit was announced by Ala Shaabana, the co-founder of Bittensor, in a July 3 X post:
Hacks and exploits remain among the most pressing concerns for the crypto space, delaying mass adoption. In the past 13 years, the crypto industry suffered nearly $19 billion worth of thefts, with 785 reported crypto hacks.