Today, cryptocurrency company StarkWare announced that it will reset wallets that do not update. However, reactions to this practice poured in on social media. Following complaints, StarkWare restored crypto access for delayed wallet updaters.
Cryptocurrency company had to step back!
As you follow from Kriptokoin.com, today witnessed a shocking development in the crypto world. StarkWare, a cryptocurrency company, announced to its users that the wallet balances of those who do not update will be reset. However, this declaration was not welcomed at all in the crypto world. After users complained about X, StarkWare was forced to backtrack. Thus, it abandoned the upgrade practice that made users’ funds inaccessible.
In the latest development, StarkWare, the company behind the Starknet Blockchain, has agreed to restore access to some users’ crypto after users flooded with complaints that their wallets had been unfairly reset following a technology update to X. The issue appeared to affect the balances of users who did not update their Argent or Braavos wallets in time for the upgrade.
Users reacted to the application
The cryptocurrency company, meanwhile, warned users earlier this month to upgrade their wallets. “If you haven’t upgraded your wallet yet, now is the time to access your funds,” StarkNet said on August 7. he shared. But early Wednesday, social media platform X was flooded with complaints that their account balances were cleared because their wallets were not compatible with Starknet’s new 0.12.1 upgrade. A person named 0XSisyphus wrote the following on account X:
StarkWare reset all user balances on old wallets that were not upgraded to the latest contracts. This is the equivalent of losing money in your bank account if you don’t get the latest software package.
StarkWare just zero'd all user balances on old wallets that didn't upgrade to latest contracts – equivalent of having the money in your bank account disappear if you don't get the latest software package
Thank You For Flying With StarkWare Airlines pic.twitter.com/QmzbeEya7Q
— Sisyphus (@0xSisyphus) August 30, 2023
Cryptocurrency company regained access to accounts
In response to the disappointment, StarkWare announced that the upgrade has been reactivated. It also explained that it allows users to regain access to their funds. The team also noted that due to technical reasons, it may take a day for funds in these wallets to reappear. In this context, StarkWare released the following statement on the official X account:
Starknet released a major version update last week: 0.12.1. A few months ago, in preparation for this update, Starknet users were asked to make a major upgrade to their account. When 0.12.1 went live, non-upgrade accounts became temporarily inaccessible. Access is restored for all these accounts (with a total of $550K). As of today, the upgrade has been re-enabled, allowing users to immediately regain access to their accounts. For technical reasons, it may take until tomorrow for Argent and Braavos users to regain access.
Starknet had an important version update last week: 0.12.1. Several months ago, in preparation for this update, Starknet users were asked to perform an essential upgrade to their account.
When 0.12.1 went live, accounts that were not upgraded, became temporarily inaccessible.…
— StarkWare (@StarkWareLtd) August 30, 2023
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