Payy Halts Network After $1.92 Million USDC Drain
Payy stopped network activity and card services on Sept. 24 after its Ethereum bridge was exploited. Onchain records tied two withdrawal batches to the same attacker-linked address, and the company confirmed the attack.
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Users and cardholders who relied on Payy would notice that deposits, withdrawals, transfers and card payments were all paused on Sept. 24. That means normal network use and card activity were stopped at the same time, with no restart date disclosed yet.
Before this, Payy processed network transactions and card payments; after the pause, those functions were unavailable. What remains unchanged is that the company has not disclosed customer losses, so the effect on individual balances is still not spelled out in the available material.
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