Blast to Shut Down as L2 Economics Fall Short

MetaMask security incident triggered staking exits

MetaMask disclosed a security incident that forced a number of Ethereum staking validators to exit, adding that user funds were never at risk. The team said the issue was contained and the affected operations were wound down safely, while staking services continue for the wider user base. Users are directed to the official update for details on impacted validators and any action required on their side.

See announcement: https://metamask.io/news/user-update

Cosmos Hub halts blocks to recover attacker assets

Cosmos Hub stopped producing blocks after validators paused the chain in response to a governance attack. Following community consensus, a one-time state modification was executed with a Gaia patch at block height 33,086,741, transferring the attacker's assets and restoring normal block production. The episode shows both the coordination cost of emergency on-chain governance and the network's ability to recover exploit proceeds through consensus rather than a hard fork. The Hub is back online with the recovered assets secured.

See announcement: https://forum.cosmos.network/t/neutron-governance-attack-cosmos-hub-response-and-recovery-update/17369

Blast chain to shut down

Ethereum Layer 2 network Blast announced it will cease operations, saying ongoing maintenance costs now exceed the revenue the L2 generates and that no credible path to economic sustainability exists. Blast is asking users to bridge assets back to Ethereum mainnet and plans to cut withdrawal wait times to 24 hours. Users can keep withdrawing through the normal interface until October 26; afterward, assets remain recoverable via the Blast Bridge contract on Ethereum L1. Blast launched in November 2023 and raised ＄20 million at launch from investors including Paradigm and Standard Crypto.

See announcement: https://x.com/blast/status/2106032805280891073

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