On Wednesday, the Open Network (TON) blockchain faced a significant operational disruption, with the network halting transaction validation and block generation for more than six hours. This incident has led to a temporary standstill in transaction processing, affecting numerous services and exchanges relying on the blockchain.
The TON development team took to X to address the issue, attributing the network freeze to an unusually high load which impacted its capacity to process transactions effectively. According to their statement, "Several validators are unable to clean the database of old transactions, which has led to losing the consensus." This problem has resulted in a complete halt of block production, with the last recorded block being 45341899. Transactions made after this point remain unconfirmed.
The network's disruption has led to substantial delays and operational issues, given that blockchains rely on the continuous creation of blocks to process and settle transactions. The interruption has halted all financial and data transactions dependent on the TON blockchain, causing significant inconvenience and potential financial impact for users and businesses.
In response to the network issues, two major cryptocurrency exchanges, Binance and Bybit, have suspended trading activities related to the TON network. Bybit announced on Wednesday the suspension of all deposits and withdrawals, citing the "unstable network" as the reason. Binance also followed suit, halting trading on its platform as the network's operational problems persisted.
This technical failure comes amid broader scrutiny involving the TON network. On August 26, Binance reported delays in the TON network upgrade due to unexpected complications, which may have contributed to the current issues.
Additionally, the timing of the network disruption coincides with significant news involving Telegram, the original developer of the TON blockchain. Recently, French authorities arrested Telegram CEO Pavel Durov in Paris on charges related to child pornography, drug trafficking, and fraudulent transactions. While the network's current problems are technically distinct from Durov's legal troubles, the coincidence of these events has heightened public interest.
The TON development team has requested validators to restart their nodes at 0400 UTC on Wednesday, provided there is adequate participation. This restart is intended to help restore normal network operations. The team is working to resolve the issues and return the network to its usual functionality as swiftly as possible.
As the situation unfolds, users and stakeholders are advised to stay updated through official channels and be prepared for potential delays in transaction processing until the network stabilizes.