News linked to both this project and an event.
According to official announcements, Payy has initiated a claims process for affected users following the cross-chain bridge contract hack on September 24, with a 30-day window for claim submissions. Eligible claims will be compensated in USDC on the Ethereum network. Meanwhile, Payy Wallet is currently suspended and will be completely shut down after the claims period concludes.
Privacy stablecoin payment network Payy Network has confirmed that its cross-chain contract on Ethereum was hacked, resulting in the theft of its entire balance. The investigation is ongoing, and all Payy Network transactions have been suspended, including deposits, withdrawals, transfers, and card transactions. Payy has notified law enforcement authorities and is collaborating with multiple incident response organizations. Previously reported, according to monitoring by Specter Investigation, Payy Network was suspected to have been hacked, with approximately 1.8 million USDC transferred out.
blockchain security researcher Specter has stated that while investigating the Payy Network attack incident, he discovered that an address associated with a MetaMask Swap router contract was blacklisted by Tether in 2021 and has remained blacklisted ever since. Specter said he had not previously noticed this situation.