Хакеры ограбили Saga на $7 млн, обвалив стабильные монеты Translation: Hackers robbed Saga of $7 million, crashing stablecoins.

The level-one blockchain Saga has halted its EVM network following a hack in which perpetrators stole USDC amounting to $7 million.

The hackers transferred the funds using a cross-chain bridge and converted it to Ethereum. The team has already identified the hacker’s wallet.

“The attack was a coordinated sequence of actions: deploying smart contracts, conducting cross-chain operations, and subsequently withdrawing liquidity,” the project’s blog states.

The incident impacted only SagaEVM and two of the platform’s stablecoins — Colt and Mustang. Both “stablecoins” lost their parity with the dollar.

Another dollar-pegged asset of the project, designated D, also experienced depegging, dropping to $0.7.

Following the breach, the price of SAGA coin fell by 5.2%, reaching $0.05.

The main Saga SSC network, consensus mechanism, and validators remain secure.

The project team is working with exchanges and bridge operators to recover the stolen funds. SagaEVM will resume operations once the developers complete their investigation of the incident.

Cybersecurity expert Vladimir S. suggested that the attacker exploited a vulnerability in the Saga Dollar smart contract.

“By creating custom messages or data, the contract bypassed checks in the bridge precompile logic, allowing for unlimited issuance of tokens D without any collateral,” he explained.

Blockchain analyst known as Specter speculated that the attack might have resulted from a compromise of a private key.

This week, the DeFi protocol Makina Finance was also targeted, with approximately $5 million being withdrawn from one of its stablecoin pools.

It is worth noting that in 2025, the total amount of stolen funds reached $3.4 billion — the highest since 2022. Three incidents, including the $1.46 billion hack of Bybit, accounted for 69% of all losses.

CEO of Immunefi, Mitchell Amador, concluded that nearly 80% of cryptocurrency projects cease to exist after major attacks.