Payy Halts Network After $1.92 Million USDC Drain
- Published
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.
Key claims & sources
What it means
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.
Market reaction i
Ethereum rose 0.1% in the 4 hours after the first headline.
26 prices, one every 30 minutes
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 7 months ago | Dango · Missing Input Validation incident | $1.9M |
| 1.1 years ago | New Gold Protocol · Spot Price Manipulation incident | $1.9M |
| 1.9 years ago | GemPad · Reentrancy incident | $1.9M |
| 2.0 years ago | Aark Digital · Incorrect balance update incident | $1.9M |
| 2.5 years ago | pump.fun · Flash loan attack incident | $1.9M |
4299 incidents stored · 752 were as large as this one or larger ($1.9M)