The Open Network (TON) is now operational again after experiencing a six-hour outage starting at 10:11 p.m. UTC on Tuesday, as reported by TON on X.
TON has resumed normal block production!
We are back online. https://t.co/iXM6kF464Tpic.twitter.com/FQ6eOt9fok
— TON 💎 (@ton_blockchain) August 28, 2024
According to Tonscan data, the TON blockchain suffered an outage, causing a halt in transaction processing for six hours. The issue arose from an abnormal network load, resulting in database cleaning problems for multiple validators. Consequently, the network lost consensus, leading to a halt in block production.
To restore operations, TON urged validators to restart their nodes with specific flags to reestablish consensus. This disruption prompted Binance and Bybit to temporarily halt deposits and withdrawals associated with the network.
Justin, a self-proclaimed strategic advisor to the TON Society, attributed the outage primarily to the DOGS memecoin airdrop. He explained that the DOGS craze overwhelmed the network with an influx of transactions, causing a loss of consensus.
Following the arrest of Telegram’s CEO, the network’s native token, Toncoin, experienced an 18% drop over the weekend, which further extended after the outage. During the incident, Toncoin plummeted to $5.11 and is currently trading at $5.34, marking a 20% decline over the past week according to CoinMarketCap’s data.