🚨 Crypto Hack Alert: Saga Pauses EVM Chain After $7M Exploit

The Layer-1 protocol Saga has temporarily halted its SagaEVM network following a major security incident that led to around $7 million in unauthorized USDC withdrawals.

🔍 What happened?

Saga confirmed that the attacker exploited a liquidity movement sequence, bridged the stolen USDC, and converted it into ETH. As a precautionary step, the team paused the chain at block height 6,593,800 while investigations and mitigation efforts continue.

🤝 Damage control in motion

Saga is actively coordinating with exchanges and bridge operators to blacklist the attacker’s wallet and prevent further fund movement. The team also clarified that core infrastructure remains secure. The SSC mainnet, validators, and protocol consensus were not compromised.

📉 Part of a bigger trend

According to Chainalysis, crypto-related losses in 2025 have already reached $3.41 billion, slightly higher than in 2024. Personal wallet attacks have surged sharply, accounting for 44% of stolen value, with nearly 158,000 wallet-drain incidents impacting around 80,000 victims.

🧩 Recent examples include the Trust Wallet incident and enforcement actions linked to the Coinbase hack, highlighting how security risks continue to evolve across the industry.

⚠️ Takeaway for Binance users:

Network halts like this reinforce why risk management, wallet security, and on-chain awareness matter more than ever in today’s fast-moving crypto landscape.

Stay alert. Stay informed. 🔐