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The Flow ecosystem experienced a significant security incident. Hackers exploited a contract vulnerability and stole $3.9 million in a single attack, with the funds transferred very quickly.
The core issue lies in the subsequent handling. The official response was to directly roll back the transaction ledger—without sufficient prior communication and coordination with ecosystem partners—before implementing this decision. From a technical perspective, rollback can indeed alter on-chain records, but it has no restraining effect on assets already transferred into the hacker's hands. Moreover, due to the transaction rollback, some legitimate positions held by ordinary users were also affected, resulting in losses.
This incident exposed two levels of problems: first, the insufficient security measures against smart contract vulnerabilities; second, the need to improve transparency and consensus mechanisms in ecosystem governance. Based on the subsequent recovery of the Flow ecosystem, market reactions to this type of handling have generally been pessimistic.