Maya Protocol Halts Network After Cross-Chain Exploit Drains Assets

Maya Protocol, a cross-chain trading network, halted operations after an exploit drained assets from one of its liquidity pools.

According to CoinDesk, the attack relied on a chain of six flaws that caused the network to credit a pool with close to 50 million tokens that had never been properly funded. That allowed the attacker to withdraw real assets, including bitcoin, from the protocol. CoinDesk reported the pool value dropped by about $11 million.

Cointelegraph, citing a preliminary analysis, reported that the six chained bugs enabled a single 23-message transaction to drain 48.87 million CACAO, the protocol's native token. Following the incident, the price of CACAO fell by nearly 89%. Cointelegraph estimated the exploit at around $1.7 million and said the network was halted in response.