Iron Fish Warns of Abnormal wIRON Issuance on Base, Suspends Purchases and Cross-Chain Operations

TechFlow reported that on October 28, Iron Fish said the team is investigating the abnormal issuance of wIRON on the Base network and has requested an urgent review from cross-chain bridge provider ChainPort. Until further notice, users should avoid purchasing wIRON on Base or using the related cross-chain bridge. Iron Fish warned that it cannot currently guarantee that wIRON is fully backed by assets on a 1:1 basis and said it will provide further updates after verifying more facts.

Source: TechFlow