Layer-1 blockchain freezes for four hours after $4.9 million exploit

A layer-1 blockchain halted operations for about four hours after an exploit linked to an estimated $4.9 million loss, according to CryptoSlate. The network applied an emergency patch that disabled binary-options settlement, a step intended to stop the incident from developing further. Researchers connected an address holding about 1,980 ETH to the event. The blockchain described the interruption as an upgrade, while the report characterized it as an emergency response to the exploit. The network involved was not identified in the supplied material. The incident places attention on the security of binary-options settlement mechanisms and on the movement of funds associated with the attack. The reported ETH balance remains at the address linked by researchers, according to the source.