Cascade, a multi-asset perpetuals platform, said a suspected security incident may have hit its CLS vault, with estimated losses of about $1.3 million. The update came from Discord administrator MAX, who disclosed the issue in the project channel. Following the incident, the platform suspended all trading and withdrawals while it works on the response. Cascade also said SEAL 911 and other third-party security teams have been brought in to investigate and help handle the situation. The platform supports deposits through Arbitrum-based USDC and bank accounts, and it remains in an invite-only private beta stage. No further details on the cause of the suspected breach were disclosed in the statement.
Multi-asset perpetuals platform Cascade said a suspected security breach may have affected its CLS vault, leading to estimated losses of about $1.3 million.
The disclosure came from Cascade Discord administrator MAX, who posted the update in the project channel. The platform has suspended all trading and withdrawals, and said SEAL 911 and other third-party security teams are now involved in the investigation and response.
Cascade supports deposits via Arbitrum USDC or bank accounts. The platform is still operating in an invite-only private beta stage.
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