Iota (MIOTA) began its seed migration period on Feb. 29, with plans to reopen the network around March 10. Though some have criticized the decision to close the Coordinator, it may have saved many users’ funds from being stolen.
The Iota network was shut off on Feb. 12, shortly after the team received multiple reports of drained user wallets. This was possible thanks to the presence of the Coordinator, a centralized transaction verifier that is required to operate the network.
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