Maya Protocol halts its MAYAChain network after an exploit drains Bitcoin and other crypto assets from a liquidity pool. According to the protocol, an attacker manipulates the pool’s balances and withdraws funds, causing the pool value to drop by about $11 million.
The protocol attributes the incident to a chain of six software flaws needed to carry out the attack. It says the attacker creates a “false balance” by crediting the pool with nearly 49 million CACAO tokens that were not properly funded. NDTV reports the pool initially holds about 168,000 CACAO, highlighting the discrepancy created during the exploit.
After obtaining access to the manipulated assets, the attacker converts the tokens and withdrawals into major cryptocurrencies, including Bitcoin and ether. CoinDesk and NDTV both describe the exploit as involving multiple cross-chain or trading steps, but they differ mainly in emphasis: CoinDesk highlights the underlying sequence of vulnerabilities and the overall asset drainage, while NDTV focuses on the network shutdown and the protocol’s stated recovery and remediation efforts.
