Taiko
Summary
Taiko (ticker: TAIKO) is an Ethereum-equivalent, based contestable ZK-rollup Layer 2 developed by Taiko Labs, founded in 2022 by Daniel Wang, former founder of Loopring. The protocol launched on Ethereum mainnet on May 27, 2024 and raised $37 million in total funding. On June 22, 2026, an attacker exploited a critical operational security failure — an SGX RSA-3072 private signing key committed to a public GitHub repository — to forge valid L2 state attestations and drain approximately $1.7 million from the L1 Bridge and ERC20Vault contracts; Taiko halted block production, paused all bridge withdrawals, and pledged full treasury-backed reimbursement to affected users.
Connected Entities
1 entities · 10 linked investigationsTimeline(10 events)
2022-03-01
Taiko Labs founded by Daniel Wang, former CEO and founder of Loopring.
Crunchbase / Gate.com2024-03-02
Taiko Labs closes $15 million Series A led by Lightspeed Faction, bringing total funding to $37 million.
PRNewswire2024-05-22
Taiko announces genesis airdrop of up to 5% of TAIKO token supply (50 million tokens) to over 300,000 community members.
The Block2024-05-27
Taiko launches on Ethereum mainnet as the first based rollup, with Vitalik Buterin submitting the inaugural block.
The Block2025-01-01
A critical vulnerability in Plonky3 (a dependency of SP1, one of Taiko's ZK prover backends) is publicly disclosed; patched by Succinct in SP1 v4 (Turbo). Taiko's multi-proof architecture was credited with limiting the impact.
Blockworks2026-06-22
Exploit occurs: attacker uses publicly exposed SGX RSA-3072 signing key (enclave-key.pem in taikoxyz/raiko GitHub repository) to forge valid L2 state attestations, drain the L1 Bridge and ERC20Vault of approximately $1.7 million, and move ~1.99 million TAIKO tokens to MEXC.
The Defiant / CoinDesk / Crypto Times2026-06-22
Taiko halts block production, pauses L1 Bridge and ERC20Vault withdrawals via Security Council 7-of-9 multisig, requests exchanges freeze TAIKO deposits, and publishes attacker wallet addresses. TAIKO token drops over 10%.
CoinDesk2026-06-22
Four pull requests labeled respond-to-hack merged into Taiko's codebase within 24 hours; PR #21820 addresses signing infrastructure changes.
Thirdweb Blog2026-06-25
Taiko publishes update confirming no user funds will be lost, pledging to fully recollateralize the bridge 1:1 before reopening. CEO files formal report with Singapore authorities. No specific reopening date announced.
Crypto TimesDecision Log
- hash: Dot4opyUJQHtCTaJ2YkWebQ4CTf9RjQ54Jf4qjGrdM7T
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 6/27/2026, 5:13:26 PM
last updated: 6/27/2026, 5:13:38 PM
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