Flow Foundation: Cadence Fix Underway — EVM Network to Resume Within 24 Hours
Flow Foundation updated the remediation progress following a recent security incident. Core developers have implemented a solution that allows the EVM-compatible network to be restored while Cadence (Flow’s native smart contract language) fixes continue. The team is executing parallel repairs on the Cadence layer (phase 2) and the EVM layer (phase 3), with the EVM network expected to come back online within 24 hours. After these phases, the project will proceed to phase 4 to restore bridging and exchange connectivity. The announcement aims to reassure users and counterparties that services will be restored in stages; no financial figures or specific attacker details were disclosed. Key keywords: Flow, EVM, Cadence, bridge restoration, outage recovery.
Neutral
The news is neutral because it reports timely remediation steps and an imminent partial service restoration rather than new features or positive fundamentals that would clearly drive up demand. Restoring the EVM network within 24 hours reduces uncertainty and limits prolonged negative sentiment, which is constructive for short-term stability. However, the underlying Cadence vulnerability and the fact that bridges and exchange connectivity remain offline until later phases keep risk perceptions elevated. Historically, when platforms announce swift, credible fixes (for example, quick rollbacks or partial restores after outages), markets often react with muted volatility or modest rebounds as confidence returns; conversely, prolonged outages or unclear remediation can cause sustained sell pressure. Traders should expect short-term relief around the EVM restart (reduced sell pressure, possible modest buy-the-news), while longer-term sentiment will depend on transparency about the vulnerability, results of audits, and timeline for bridge/exchange restoration. Monitor on-chain activity, bridge inflows/outflows, and announcements for successful audits or forensic reports to update risk assessments.