cryptobriefing.com
Stargate, a cross-chain bridge built on LayerZero, has been down for over six hours due to malfunctioning Decentralized Verifier Networks (DVN) executors, which causes delays in transaction processing across multiple blockchains.
Blockchain security firm PeckShield first reported the outage earlier today and advised users to halt cross-chain transfers until further notice.
#PeckShieldAlert Our community has reported that #Stargate is currently down.
Do *NOT* use Stargate for cross-chain fund transfers at this time. Transactions are getting stuck in transit.— PeckShieldAlert (@PeckShieldAlert) December 20, 2024
Web3 security company ExVul later noted that Stargate had been down for nearly 6 hours.
🚨🚨🚨URGENT: @StargateFinance is currently offline. DO NOT attempt any cross-chain transfers using Stargate. Your funds may be at risk.
— ExVul (@EXVULSEC) December 20, 2024
At the time of reporting, around 29,700 transactions are stalled within the system, according to data from LayerZero Scan.
The Stargate development team confirmed the incident was caused by an error in the DVN network’s executors. LayerZero’s technical team is working to resolve the issue.