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

Odaily Planet Daily News: According to MAX monitoring, on July 16, the Cascade CLS vault was suspected of suffering a security breach, 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 US market, supporting deposits via Arbitrum USDC or bank accounts. It is currently still in an invite-only private beta phase.