Starkware Restores User Access To Outdated Wallets
Starkware, a decentralized layer-2 network for Ethereum scalability, has reversed its decision to lock users out of their outdated wallets containing approximately $550,000 worth of assets.
Starkware had previously communicated the importance of the upgrade and the risk of losing assets for wallets that missed the deadline. Accounts not upgraded to Starknet’s latest smart contracts by August 21 were rendered “deprecated” and unusable.
Following a network update that momentarily rendered accounts inaccessible, Starknet declared on Wednesday that it has re-enabled the upgrade, allowing users to immediately recover access to their accounts.
However, some users of Argent and Braavos wallets might experience a delay in accessing their accounts, with restoration potentially extending until the following day due to technical reasons.
Starknet utilizes ZK-rollups to bundle transactions and enhance Ethereum transaction scaling. Despite prior warnings, Starknet’s initial approach drew criticism from users who found the risk of asset loss due to network upgrades unacceptable.
Over a period of months, Starkware and Argent pushed for the upgrade, but some users offered alternate suggestions that may save funds without stifling innovation. More than $78 million in assets are kept within Starknet accounts, according to Starkscan data, with $546,000 of those accounts being “out of date” and affecting almost 15% of the network’s 2.1 million users.
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