Iron Fish said it is investigating irregular issuance of wIRON on the Base network and has asked ChainPort to conduct an emergency review. The team warned users not to buy wIRON on Base or use the bridge until further notice, adding that it cannot currently guarantee the token is fully backed on a 1:1 basis. Iron Fish said more information will be released after the facts are confirmed. Foresight News had previously reported that Base acquired the Iron Fish development team in March 2025 to build privacy-preserving primitives for Base. The purchase price was not disclosed.
Iron Fish said it is investigating irregular issuance of wIRON on the Base network and has requested an emergency review from ChainPort.
The team warned users to avoid buying wIRON on Base or using the bridge until further notice. It added that it cannot currently guarantee that wIRON is fully backed on a 1:1 basis.
Iron Fish said it will share more information after confirming the facts.
Foresight News previously reported that Base acquired the Iron Fish development team in March 2025 to develop privacy-preserving primitives for Base. The acquisition price was not disclosed.
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