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TON Blockchain Halts for Over 6 Hours Amid DOGS Memecoin Surge
Aug 28, 2024, 03:01 AM
The TON blockchain experienced a significant outage, halting block production for over six hours due to network congestion caused by a surge in transactions from the DOGS memecoin airdrop. This disruption led to a 5% drop in TONcoin's value. Major exchanges, including Binance and Bybit, suspended deposits and withdrawals through the TON network due to its instability. The issue arose as several validators were unable to clean the database of old transactions, leading to a loss of consensus. The network has since been restored, and block production has resumed.
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