Cascade CLS treasury attacked, causing $1.3 million in user fund losses

Odaily Planet Daily News According to MAX monitoring, on July 16, the Cascade CLS treasury was suspected to have suffered a security vulnerability, resulting in approximately $1.3 million in user fund losses. The platform has suspended all trading and withdrawals and has invited SEAL 911 and other third-party security teams to investigate and handle the incident. Cascade is a New York-based 24/7 multi-asset perpetual contract platform targeting the U.S. market, supporting deposits via Arbitrum USDC or bank accounts, and is currently still in an invitation-only private beta phase.