The Iota Foundation has put out a warning regarding Iota (MIOTA) money wallet Trinity, and its association with stolen funds.

Subsequently multiple Iota holders reported missing coins, the Iota Foundation announced the suspension of its network node, called the Coordinator, while the entity explores the state of affairs, a Feb. thirteen Iota status update said.

Iota runs on the tangle, not blockchain

A major player in the 2022 bull run, Iota stood out equally i of the few cryptocurrencies not on the blockchain. The asset runs on the tangle, using Directed Acyclic Graph applied science, or DAG for brusk.

The Iota Foundation runs the Coordinator, a node on the network to help prevent attacks. Although the network withal plain relies on the Coordinator, the Iota Foundation posted a discussion on the node's elimination in a 2022 blog postal service.

The asset'southward Trinity wallet causes issues

Terminal summer, the Iota Foundation released Trinity, a new wallet for Iota storage.

On Feb. 12, 2022, an Iota status update urged users not to open their Trinity wallets for the fourth dimension beingness, citing multiple reported accounts of stolen Iota.

The adjacent twenty-four hour period, after looking into the consequence, the Iota Foundation said thieves likely obtained victims' private wallet keys. The foundation noted approximately x cases of reported theft, which all involved Trinity wallet usage.

Network transaction enquiry also indicates but roughly 50% of victims have reported cases to the foundation at the time of the announcement.

"We'll share a full transparent report of all events once this has concluded, for at present we'll limit the information we share to non give provide the attackers with whatever boosted insights," the update said, adding that the data thus far all the same is not fully decisive.

This is not the get-go bout of trouble Iota has seen since 2022. The network has seen multiple functional issues, including a 24-hr mainnet shutdown in Dec 2022.

Cointelegraph reached out to the Iota Foundation for additional details, but received no response equally of press time. This article will be updated accordingly should a response come up in.