Saga: SagaEVM experienced a security incident and has been suspended; approximately $7 million in assets were transferred to the Ethereum mainnet.

Saga issued an announcement stating that a security incident occurred on SagaEVM on January 21st. The chain has been suspended at block height 6,593,800, and an investigation and mitigation effort is underway. Saga stated that the incident involved a series of contract deployments, cross-chain operations, and subsequent liquidity transfers. For security reasons, the team will maintain the SagaEVM suspension until the investigation and mitigation measures are complete. Current priorities include: preventing further impact, verifying the scope of impact through archived data and execution traces, hardening relevant components before restarting, and only disclosing confirmed facts. Regarding the scope of impact, the affected entities are the SagaEVM chainlet and its components Colt and Mustang; unaffected entities include the Saga SSC mainnet, Saga protocol consensus, validator security, and other Saga chainlets. The announcement also stated that approximately $7 million worth of USDC, yUSD, ETH, and tBTC were transferred to the Ethereum mainnet. The attacking address has been identified, and Saga is working with exchanges and cross-chain bridges to blacklist the address and attempt to recover the assets. Saga emphasizes that there was no consensus failure, validator compromise, or signature key leakage in this incident, and the overall Saga network structure remains secure. The team will release a full technical recap report after confirming the root cause, fixing and hardening the affected components.