MAYAChain halts network after estimated $1.7M exploit
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Maya Protocol, a cross-chain decentralized exchange (DEX), halted its network after an attacker exploited six chained software bugs, stealing an estimated $1.7 million in crypto assets. The stolen assets included about 20 Bitcoin valued at $1.4 million and $300,000 in other assets. The protocol has implemented a global halt to contain the damage and is working on a fix to resume swaps.
Why it matters
The incident highlights vulnerabilities in cross-chain DEX protocols and the potential for significant financial losses due to software flaws. The network halt aims to prevent further damage and protect user funds, illustrating the risks involved in decentralized trading environments and the importance of prompt response to exploits.
Key context
The attack involved a complex exploit using a single transaction with 23 messages to trigger false theft detection and manipulate a low-liquidity pool. This allowed the attacker to withdraw a large number of CACAO tokens from the Asgard module. Independent analysis noted a significant drop in the CACAO token price during the incident and estimated an overall decline in pool value, partly due to arbitrage and token devaluation.
Key numbers and entities
The attacker stole roughly 20 Bitcoin, valued at $1.4 million, and $300,000 in other assets, totaling an estimated $1.7 million. Approximately $1.36 million was transferred to external blockchains, while about $291,000 in CACAO tokens and trade-account positions remained on MAYAChain. The CACAO token price dropped by 88.7%, from around $0.115 to $0.013.
What remains unclear
The source does not flag any open questions or uncertainties regarding the incident beyond the ongoing work to fix the software flaws and resume service.