Due to the “Ethereum Smart Contract Overflow Vulnerability” bug that occured on April 25th, SMT is still in a stage of suspended trading. After consultations between the SmartMesh Team and major exchanges, it has been decided that replacing the smart contract will ensure that SMT recovers to normalcy as quickly as possible.
The replacement will be carried out on April 27th, and the big exchanges and digital wallets supporting SMT will synchronize with the changes. So SMT holders do not need to take any actions, and after the replacement the security leak will be non-existent.
The main reason why there is no direct replacement of the public chain is that after the replacement, large exchanges would also need to time to complete the public chain mapping, which would take too long. The market changes too quickly and that amount of time cannot be afforded. So, in order to best serve the needs of investors, the team has chosen to replace the smart contract.
Please stay calm. The Spectrum Public Chain was not at all affected by the spillover event, and it will be launched on schedule on April 30th.
Please follow us on further project updates and thank you for your continued support!
SmartMesh Foundation Pte. Ltd.