Linea
Summary
Linea is a zkEVM Layer 2 rollup built by Consensys that launched on Ethereum mainnet in July–August 2023 and uses a proprietary zk-SNARK proving library called gnark. The network is classified as Stage 0 by L2BEAT, operates a single centralized sequencer with no permissionless fallback, and demonstrated this centralization risk in June 2024 when it unilaterally halted block production during the Velocore DEX hack. The LINEA token launched in September 2025 and suffered a 93% price collapse within hours amid a delayed community airdrop contract, sequencer outage, and allegations of treasury wallet selling pressure.
Connected Entities
1 entities · 10 linked investigationsTimeline(10 events)
2023-08-16
Linea completes public mainnet rollout with full ERC-20 token bridge deployment
Consensys Official Blog2024-04-25
Consensys files preemptive lawsuit against the SEC seeking declaration that ETH is not a security
Axios2024-06-02
Velocore DEX on Linea exploited for approximately $7 million; Linea unilaterally halts sequencer between blocks 5081800 and 5081801 to prevent further fund extraction
The Block2024-06-28
SEC files enforcement action against Consensys in the Eastern District of New York over MetaMask Staking and Swaps services
SEC.gov2024-09-19
Texas federal court dismisses Consensys' preemptive lawsuit against the SEC on procedural grounds
Baker McKenzie Blockchain Blog2024-11-13
Linea Association, a Swiss nonprofit, announced at Devcon Bangkok to serve as independent governance body for the Linea network
Blockhead2025-02-27
Consensys CEO Joseph Lubin announces SEC has agreed to drop all claims; no fines or conditions imposed
Consensys Official Blog2025-09-10
LINEA Token Generation Event; sequencer suffers ~46-minute outage; community airdrop contract funded 50 minutes late; price collapses 93% from peak of $0.32 to $0.024
BanklessTimes2025-09-10
SWIFT announces prototype 24/7 interbank payments platform built on Linea, with major bank participants including Bank of America, Citi, JPMorgan, and TD Bank
CCNDecision Log
- hash: skw4enCprzGJS2wFZjpPpkY87guyCrVZvyYH47bzdyb
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/31/2026, 1:59:27 PM
last updated: 5/31/2026, 1:59:31 PM
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