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first_img The Singapore International Commercial Court freezes approximately 75 million Singapore dollars in cryptocurrency assets

The Singapore International Commercial Court (SICC) has ordered the freezing of approximately SGD 75 million worth of Bitcoin and USD Coin, involving a transfer dispute between a global major cryptocurrency exchange operator (the plaintiff and related companies) and a long-term customer. In a ruling made in March 2026 by Singapore High Court Judge Aidan Xu and SICC international judges Anthony Meagher and David Goddard, the court granted the plaintiff a temporary injunction, prohibiting the defendant from disposing of 816,773 USDC and 780 BTC transferred from two dedicated wallets on the platform and the corresponding profits, and required the defendant to disclose the whereabouts of the assets, but did not allow the plaintiff to use that information to apply for similar injunctions in other jurisdictions.The defendant had held 2,500 BTC and 2,500 BCH in the dedicated wallet. The plaintiff claimed that due to technical reasons, the internal ledger did not record the defendant's transfer operation in March 2020, and the wallet appeared empty. Based on this misunderstanding, the plaintiff transferred 2,500 BTC and 2,500 BCH to the defendant's other wallet in July 2024. The defendant subsequently exchanged 20 BTC for approximately 816,773 USDC and transferred it along with 780 BTC to a non-plaintiff custodial wallet between July and November 2024. After discovering the ledger error in January 2025, the plaintiff froze the defendant's wallet and recovered the remaining 1,700 BTC and 2,500 BCH.

Maya Protocol Attacked: Six Linked Vulnerabilities Result in Approximately $1.7 Million Stolen, Liquidity Pool Shrinks by $11 Million

The cross-chain liquidity protocol Maya Protocol was attacked on August 18, with the attacker exploiting six interconnected software vulnerabilities to create false account balances, stealing approximately 20.83 BTC (about $1.34 million) and other assets, resulting in a total direct loss of about $1.65 million. The incident led to the suspension of trading on the MAYAChain network, with its token CACAO plummeting nearly 89% from $0.115 to $0.013, before recovering to around $0.03.Technical reviews show that the attack began when MAYAChain mistakenly judged a transaction to be lost and triggered a compensation mechanism, but the mechanism miscalculated, adding about 49 million CACAO to a small liquidity pool, while the protocol's reserves only held about 168,000 CACAO. After the transfer failed, the system incorrectly saved the new balance, and the attacker subsequently deposited a very small amount into the liquidity pool, acquiring over 99% of the pool's share and immediately withdrawing 48.87 million CACAO, which was then exchanged for Bitcoin, Ethereum, and other assets.The incident caused the total value of the Maya Protocol liquidity pool to decrease by about $10.9 million, of which approximately $6.4 million was due to the depreciation of CACAO, and about $2.9 million came from arbitrage trading. The team expressed hope that the attacker would return the funds in the form of a bug bounty; otherwise, they would seek to recover losses through investments in channels like Aztec Chain. Maya Protocol has not yet announced a specific time for resuming trading. This incident once again exposed the security risks within the complex logic of DeFi protocols.
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