IOTA gets in a spot of trouble and switches its crypto off

IOTA gets in a spot of trouble and switches its crypto off

A coordinated cyberattack resulting in “stolen funds” from users has prompted IOTA, the $891 million, “third-wave” cryptocurrency project, to briefly shut down its entire network. The IOTA Foundation, which develops the token, announced on Twitter Thursday that it had “paused” the Coordinator, the IOTA-run node that validates all transactions on the IOTA network, effectively sealing off trading indefinitely.