After the recent string of security incidents, @KiiChainio has officially announced its return. Looking at the main business KiiChain focuses on—B2B cross-border payments—security is the lifeline between life and death.
Let’s go over the sequence of events:
Around 22:50 UTC on August 22, KiiChain detected an attack. It then paused the network, preventing the vulnerability from being exploited further. The incident occurred roughly near block height #9,355,723, and the attacker repeated the exploitation 18 times.
Then, in the early hours of August 23, the official statement for the first time confirmed the issue was in the EVM module. Some funds were transferred via Hyperlane to the BNB Chain. A few hours later, the official pinpointed the root cause to the shared Cosmos EVM module, stating that the incident had been contained and that other supported networks were not affected.
Approximately 148.3M in total value, specifically $KII , was affected. Of that, about 80.7M $KII remained on-chain. The official said funds could be restored, upgraded, and migrated to recovery wallets. 67.6M KII had already bridged to BNB Chain, another 3M went to KuCoin, and a freeze was requested.
By August 28, KiiChainio announced that the network had resumed producing blocks and entered a fully operational state.
The official stated that the underlying issues have been patched, the network has been further secured, and the chain state was verified before being brought back online. They also said there was no loss of user funds and that most of the affected tokens had been recovered.
So for now, KiiChain has moved from pausing the chain to stop the bleeding and has entered the recovery and restart phase. The focus now shifts to ecosystem recovery: TRON integration, product progress, ecosystem expansion, and whether real users can truly return and participate again.
As for the specific details of fund recovery and the freezes, more information will need to be confirmed through subsequent announcements and cross-verification with external sources. That said, regardless, the network’s official restoration is a good start, but rebuilding long-term trust and vitality in the ecosystem will still take time to prove.
Keep following and stay updated on the latest developments.