Cascade CLS vault hacked, resulting in $1.3 million in user fund losses

Odaily Odaily News According to MAX monitoring, on July 16, the Cascade CLS vault was suspected of suffering a security breach, resulting in losses of approximately $1.3 million in user funds. 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. It supports deposits via Arbitrum USDC or bank accounts and is currently still in an invitation-only private testing phase.