News linked to both this project and an event.
Odaily reports: Crypto brokerage platform Cascade (formerly Perennial) announced on X that it is officially ceasing operations after approximately 5 years.Cascade stated that this was a difficult decision. Users can claim remaining funds from Cascade CLS and their trading accounts through the officially designated page, and users are reminded to only use the official claim portal.Previously in July, the Cascade CLS vault was suspected to have suffered a security exploit, resulting in approximately $1.3 million in user fund losses.
Odaily Odaily News According to MAX monitoring, on July 16, the Cascade CLS treasury suspectedly experienced 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 24/7 multi-asset perpetual contract platform headquartered in New York, targeting the US market. It supports deposits via Arbitrum USDC or bank accounts and is currently still in an invitation-only private testing phase.