On behalf of the Neutron community, we want to thank the Cosmos Hub’s contributors and validators for how they handled this situation.
The Hub was not the target of this attack, but it acted fast to limit the damage to the ATOM token and the wider Cosmos ecosystem. Validators coordinated an emergency halt within hours and shipped a minimal, carefully scoped restart on Gaia v28.3.0. As a result, 1,227,121 ATOM that would otherwise have been sold is now safe in custody. Thank you also to Nansen, Keplr, Enigma, Silknodes, Kiln and Polkachu for taking on custody as signers of the recovery multisig.
As the team leading the Neutron relaunch, we have just posted a proposal for discussion: [DISCUSSION] Move the 1,227,121 ATOM recovered after the Neutron exploit to the Neutron recovery multisig
In short, it is a text proposal that would authorize the Hub multisig signers to send the recovered ATOM over IBC to the Neutron recovery multisig. After that, a Neutron governance proposal will return all recovered funds, including this ATOM, to the original contracts they were taken from. The proposal spends nothing from the community pool and changes nothing on the Hub.
We’d appreciate feedback from the Hub community and the signers in that thread before we put it on-chain.