MAYAChain halts network after estimated $1.7M exploit

BREAKING: MAYAChain halts its network after an estimated $1.7M exploit, with six chained bugs used to drain 48.87 million CACAO. The token has crashed nearly 89%.

One transaction just drained MAYAChain, and its token crashed 89 percent.

Maya Protocol, the cross-chain exchange, hit the emergency brakes overnight after an attacker walked off with an estimated 1.7 million dollars. Most of that was 20 Bitcoin, worth about 1.4 million, plus another 300 grand in assets. The co-founder, who goes by Aalux, says the network is on a global halt while they patch it.

And the method is the part that gets me. Six separate bugs, chained together, all fired through a single transaction carrying 23 messages. It tricked the system into a false theft alert, pumped a thin liquidity pool, and pulled 48.87 million CACAO out of the vault. The token went from about eleven and a half cents to just over one cent. Total pool damage looks closer to 11 million once you count the crash itself.

Six bugs, one transaction, and a token worth a penny. That's the audit nobody ran.

This is Sara White, reporting for HIT.

Source Read the original reporting at cointelegraph.com