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Maya Protocol halts MAYAChain after bugs enable crypto pool drain

The exploit triggered an estimated $10.9 million decline in Maya liquidity pool value and sent CACAO down nearly 89%.

Reported · Written up by our desk · Market Structure

CoinDesk reports Maya Protocol halted its MAYAChain network after an attacker chained together six software bugs to create a false accounting balance in a liquidity pool, enabling the theft of about $1.7 million in bitcoin and other assets. According to the report, the damage extended beyond the funds taken. The exploit and related arbitrage activity, along with a selloff in Maya’s CACAO token, contributed to an estimated $10.9 million decline in the value of Maya liquidity pools, while CACAO plunged nearly 89%. The outlet says a preliminary reconstruction found multiple failures working in sequence, including an incorrectly triggered theft alert, faulty handling of outgoing transactions, and incorrect liquidity pool calculations. Maya reportedly mistakenly added roughly 49 million CACAO to a small pool even though MAYAChain reserves held only about 168,000 CACAO, leaving the compensation effectively unfunded. Maya also said it stopped all trading to contain the damage and is working on a fix before swaps resume, while the report describes MAYAChain as a smaller cross-chain trading network that lets users swap assets via liquidity pools rather than a centralized exchange.

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