Radix Week in Review: Mainnet Restarts, Exchanges Stay Shut

The week in brief

• Radix mainnet restarted at 11:35 UTC on 11 September, ten and a half days after it stopped.
• It runs Eagle Ray, the protocol update that closes the Radix Engine bug used to drain the network on 31 August.
• A transaction built to repeat the exploit was rejected on mainnet the same afternoon.
• The Radix Accountability Council says a written report on what happened follows in a few days.
• No exchange has reopened XRD deposits or withdrawals yet.
• Three validators holding 38 million XRD of delegated stake deregistered after the restart.
• DeFiLlama records 173,848 USD of Radix trading on ten days when the ledger committed nothing.

Radix mainnet is running again. The operators who run its validators installed a patched release of the node software over two days, waited until enough of them were ready, and started their machines together on Friday morning. The network had been stopped since 31 August, when someone used a bug in the Radix Engine, the software that executes every transaction on Radix, to take tokens out of accounts they did not own. The drain and the halt that followed are recorded on this wiki.

The restart brought back transactions. It did not reopen the exchanges, which decide for themselves when to let XRD in and out.

From fix to restart

Two releases, one commit

The fix went into the Radix Engine as a protocol update named Eagle Ray, published as Scrypto v1.4.0 at 17:35 UTC on 7 September. The node half followed the next afternoon. Its author, 0xOmarA, merged pull request #1076 into babylon-node, the software validators run, at 15:28 UTC on 8 September with no reviews recorded, and a release candidate was built from it seven minutes later. The final v1.4.0.0 came out at 03:59 UTC on 10 September from the same commit; the only change was dropping the pre-release flag, which is what lets the node installer find it.

The Radix Accountability Council, the volunteer group coordinating the restart, told operators at 09:13 UTC that day not to install it yet, and at 16:15 UTC to install it and leave their nodes running.

How it came back

Pull request #1076 did two unusual things: it enacts Eagle Ray at a fixed epoch, 339,898, instead of waiting for operators to signal readiness; and it refuses user transactions for the epoch before that. The network still needed more than 67% of active validator stake online on the new release before it could agree on anything. StakeSafe put a live tracker online that evening, and it sat near a third for twelve hours, because the largest operators had upgraded and were keeping their nodes off to start together. Faraz, answering a node runner in the main Radix Telegram group, explained why: coming back barely above 67% risks one node failing and stopping the network again.

They started at once. Rounds resumed at 11:35:28 UTC on 11 September, ten days, 14 hours and 16 minutes after the last one. Epoch 339,897 ran as empty blocks, Eagle Ray enacted at 11:39, and the first 17 user transactions committed in a single round at 11:39:25.

The fix, tried on mainnet

An hour later Daffy, a node runner who had tested the fix on the test networks with a contract built to drain vaults, published that contract to mainnet and sent it a draining transaction. It was rejected with the error InvalidInvokeAccess, raised by the check Eagle Ray added, which refuses a method call on an object the caller has no right to use. It failed before paying its fee, so it was rejected outright and left no entry on the ledger.

The council announced the restart at 14:37 UTC. It said its own attempts to use the exploit on mainnet had all failed, that re-enabling deposits and withdrawals is up to each exchange, and that it needs a few days to prepare a report.

What the restart did not reopen

Exchanges

Gate.io, KuCoin and CoinEx all still had XRD deposits and withdrawals closed on 13 September, according to this wiki’s exchange watch. Until they reopen, each exchange trades only the XRD already inside it, so prices drift apart: on 11 September Gate.io quoted XRD 42.6% above MEXC. The DEX RSwap has withdrawn most of its liquidity until prices settle.

Timan Rebel of Astrolescent said on 12 September that he is helping the exchanges upgrade their nodes and Gateways, and that market makers need coordinating after that.

Stolen funds

The main Telegram group spent 12 September arguing about compensation for people whose bridged assets were taken. Proposals ran from a fund that grows with the ecosystem to nothing at all, and the one point most people accepted was procedural: any scheme needs a vote, and the DAO that would hold it is not running yet. Nicolai of Sentura proposed a bug bounty followed by liquidity incentives.

Validators leaving

Three validators deregistered after the restart. A deregistered validator drops out of the active set at the next epoch and stops earning, and so does the XRD staked to it, which stays where it is until each delegator unstakes.

Their seats went to three validators holding under 20,000 XRD each. Across the network, staked XRD fell by 32 million, 0.66%, between the halt and 11:07 UTC today.

The halt in other people’s records

From 21:19 UTC on 31 August to 11:35 UTC on 11 September the ledger committed nothing: the Gateway’s transaction stream goes from state version 557,840,627 straight to 557,840,628, ten days later. DeFiLlama, the dashboard most people check for DeFi volume, records 173,848 USD of Radix DEX trading on the ten days from 1 to 10 September.

Most of it is one number. DefiPlaza reports its figures to DeFiLlama through its own endpoint, which DeFiLlama asks for each day by timestamp. Asked today for any day from 1 to 10 September, the endpoint returns the same record, dated 31 August and stamped with state version 557,840,558, from before the halt. DeFiLlama’s adapter reads the volume from that record and ignores its date, so it stored DefiPlaza’s 31 August volume, 17,024 USD, on each of the ten days: 170,240 USD of trading that did not happen.

The remaining 3,608 USD is CaviarNine’s LSU pool on the first four days, and nothing public shows where it came from. Ociswap and CaviarNine’s main pools recorded nothing for the halt, which is correct.

Hyperscale

hyperscale-rs is a community-built replacement for the part of Radix that orders and agrees transactions, written almost entirely by one developer, flightofthefox. It took 161 of this week’s commits, and on 9 September he merged leg local execution, a rewrite of how transactions execute that changed 313 files.

On 12 September he said the first milestone the community voted to fund is delivered in full, and that he is not asking for the 50,000 USD attached to it.

The week on the ledger

Read live from the Radix Gateway at epoch 340,467, state version 558,030,614, on 13 September 2026. The last weekly reading before this one is from 30 August, too old to compare.

Concentration watch

Eight validators hold a third of active stake and 15 hold half, the same as when the network stopped on 31 August. A group holding more than a third can stop the network from agreeing on anything.

The ledger

One prediction came due early and hit: on 6 September this series predicted mainnet would commit a round again by 20 September, and it did on 11 September. The claim that hyperscale-vm records 200 commits in the fortnight to 13 September closes at midnight at 109, and scores next week.

Three new, each with its check on the series index: Leaf Node charging 100% by 17 September, Daffy (Supreme) charging 20% by 27 September, and the council publishing its report on the exploit by 27 September.

This week on the wiki

The day-by-day record of the drain and the halt was split out of the main article on 11 September and now runs from the first draining transaction to the restart. Its last section shows how to read your own account, now that account reads work normally again.

What to watch

• Leaf Node’s fee rises from 1% to 100% at epoch 341,223, around 02:00 UTC on 16 September. Its 25.6 million XRD of stake then earns nothing for delegators. Settled by the effective fee the Gateway reports.
• The council’s report on the exploit and the restart. Settled when it is posted to the council’s channel.
• An exchange reopening XRD deposits. Settled by Gate.io, KuCoin or CoinEx showing deposits open.

Corrections

For twelve days this wiki said the ledger stopped at state version 557,840,622, which is where the Gateway’s status endpoint stopped; the ledger committed five more, to 557,840,627 at 21:19:48 UTC. The affected pages were corrected this week, and the verifiability policy now names the mistake.

This morning’s weekly reading first stored a 45-hour-old cached copy of this site’s snapshot, and then an Ociswap volume of 11 quadrillion XRD, over 800,000 times the XRD supply. Both are now refused before they are stored, and the weekly series carries the fresh reading without the volume.

Next week the exchanges decide when XRD can move again, and the council’s report is due.

Radix Week in Review series, Issue #12: ← Previous: Issue #11, Aug 31 – Sep 6, 2026 · All recaps · Subscribe

Previously: The fix for the bug that stopped Radix is written and about to be rehearsed on the test network. The DAO’s incorporation went ahead regardless.