$1.7 Million Bitcoin Hack Brings Maya Protocol to a Standstill

Maya Protocol, a Cosmos SDK-based DeFi platform, has suspended operations after an attacker exploited six software bugs to steal approximately $1.7 million in Bitcoin and other assets.

The attack manipulated cross-chain accounting, inflating token balances to enable the theft, and caused the protocol's native token, CACAO, to plummet nearly 89% in one day, severely impacting liquidity providers.

The total estimated loss, including market fallout, reached $11 million, raising concerns about the security of cross-chain DeFi platforms and the potential for recovery remains uncertain.