Cascade said on X that the earlier incident involving funds being drained from CLS has been resolved, with the party involved cooperating to return all stolen funds. The platform said users who held funds in CLS will receive 100% reimbursement based on the value recorded at 21:08:00 UTC on July 15, 2025, and that claims will open in the coming days. Earlier, ChainCatcher had reported that MAX, a Discord administrator for multi-asset perpetuals platform Cascade, said the Cascade CLS vault was suspected to have suffered a security issue that led to losses of about $1.3 million. Following that incident, the platform halted all trading and withdrawals and brought in SEAL 911 and other third-party security teams to investigate and handle the matter.
Cascade said in a post on X that the earlier incident in which CLS funds were drained has been resolved, and the party involved cooperated in returning all stolen funds.
The platform said all users who held funds in CLS will receive 100% reimbursement based on the value recorded at 21:08:00 UTC on July 15, 2025. The claims function will open in the coming days.
Platform had suspended trading and withdrawals earlier
ChainCatcher previously reported that MAX, a Discord administrator for multi-asset perpetual contract platform Cascade, said in a channel that the Cascade CLS vault was suspected of suffering a security vulnerability, resulting in losses of about $1.3 million.
The platform had suspended all trading and withdrawals at the time and invited SEAL 911 and other third-party security teams to join the investigation and response.
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