Saga, a decentralized platform focused on building multichain ecosystems, announced the temporary pausing of its Ethereum Virtual Machine (EVM) chain following a critical exploit discovered in a core smart contract. The incident, reported late Thursday, appears to stem from a vulnerability that allowed an unauthorized party to manipulate the contract logic, potentially leading to unauthorized token generation or fund depletion. The exact monetary damage is currently under investigation, though preliminary reports suggest the immediate damage was contained shortly after detection due to the rapid response. The Saga team immediately implemented emergency shutdown procedures for the EVM chain to prevent further loss and contain the breach. They are currently working with external blockchain security auditors to conduct a comprehensive post-mortem analysis and develop a necessary patch before resuming operations. Users have been advised to halt all transactions related to the Saga EVM bridge and associated contracts until further notice. Saga emphasizes that the security of user assets is paramount and commits to providing a detailed timeline for the chain restart and remediation plan once the integrity of the ecosystem is fully restored, assuring the community that efforts are underway to minimize the impact on affected users.
Source: Saga pauses EVM chain following smart contract exploit
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