Saga’s US dollar-pegged stablecoin has dropped to $0.75, while the protocol's total value locked has fallen by around 55% over the past 24 hours.
Layer-1 blockchain protocol Saga has paused its SagaEVM chainlet after it suffered a $7 million exploit that saw unauthorized funds bridged out and converted into Ether.
The Saga team announced in an X post on Wednesday that it had paused the Ethereum-compatible chain at block height 6,593,800 in response to the exploit.
In a follow-up Medium post, the team said as part of the ongoing investigation, they have found the security incident appears to have “involved a coordinated sequence of contract deployments, cross-chain activity, and subsequent liquidity withdrawals.”
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments