An exploit drained $1.7 million in Bitcoin and other assets, triggering an 89% drop in CACAO and a $10.9 million liquidity pool decline.
Maya Protocol suspended operations on MAYAChain after an attacker exploited six software vulnerabilities to steal approximately $1.7 million in Bitcoin and other assets. The breach caused the network’s native token, CACAO, to plummet nearly 89%, while liquidity pools lost roughly $10.9 million in value.
The post-mortem revealed the attacker inflated a liquidity pool by 49.45 million CACAO, securing 99.93% control before draining funds. The team halted swaps to prevent further losses and plans to resume operations after fixing the flaws. Prior to the attack, MAYAChain facilitated cross-chain cryptocurrency swaps without centralized exchanges.
No immediate market reaction data was provided, but the halt and token collapse signal potential liquidity risks for decentralized finance protocols.