Maya Protocol loses $1.7M in major exploit, halts network

Maya Protocol lost $1.7M in a complex exploit, halting its network. The attack drained 20 BTC and caused CACAO to drop 89%. The team is working on fixes and recovery measures.

Maya Protocol, a cross-chain liquidity platform, experienced a significant security breach that resulted in the theft of approximately $1.7 million. The attacker exploited six chained software bugs in a single transaction, artificially inflating a low-liquidity pool and draining 48.87 million CACAO tokens, including about 20 BTC and $300,000 in other assets. In response, the network was globally halted to prevent further losses, with trading and withdrawals paused as the team worked on a solution. The incident caused the CACAO token to plunge nearly 89% and led to an estimated $10.9 million decline in the value of Maya’s liquidity pools due to arbitrage and selloffs. Blockchain security firms traced the stolen assets to addresses controlled by the attacker. Maya Protocol’s team is addressing the vulnerabilities, communicating with stakeholders, and considering compensation options, including new investments and a bug bounty offer to the attacker.