MAX monitoring said on July 16 that the Cascade CLS vault was suspected to have suffered a security exploit, leading to losses of about $1.3 million in user funds. Following the incident, the platform halted all trading and withdrawals. Cascade said it had brought in SEAL 911 and other third-party security teams to investigate the issue and help handle the response. Cascade is a New York-based 24/7 multi-asset perpetuals platform serving the U.S. market. It supports deposits through Arbitrum USDC or bank accounts. The platform is still operating in an invite-only private beta stage, according to the update cited by Odaily.
According to MAX monitoring cited by Odaily, the Cascade CLS vault was suspected to have suffered a security exploit on July 16, resulting in about $1.3 million in user fund losses.
The platform has suspended all trading and withdrawals and has asked SEAL 911 and other third-party security teams to join the investigation and response.
Cascade is a New York-based 24/7 multi-asset perpetuals platform focused on the U.S. market. It supports funding through Arbitrum USDC or bank accounts and is still in an invite-only private beta stage.
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