The Flow Foundation scraps proposal to roll back blockchain after $3.9 million exploit. No chain reorganization planned, legitimate transactions remain valid. Temporary restrictions placed on affected accounts, EVM operations read-only during recovery phase one.

Pushback from users leads to implementation plan following concerns over decentralization and security. Rollback decision deemed rushed, potential for financial damage. $3.9 million exploit contributes to over 20% drop in Flow token price. Recovery plan timeline spans several days with relaunch of Cadence chain.

Flow’s response requires collaboration under high stress. Uncertainty remains over complete asset recovery. Network to provide update within 24 hours. Find Labs commends stewardship in responding to ecosystem feedback. Stay tuned for further developments in the recovery plan.

Read more at cointelegraph.com: Flow Scraps Rollback Plan after Pushback over Decentralization, Security