ChainCatcher report: Cascade has announced on X that the incident involving the withdrawal of CLS funds has been resolved, with the involved party cooperating to return all stolen funds. All users holding funds in CLS will receive 100% reimbursement based on the value of their holdings as of July 15, 2025, at 21:08:00 UTC. The claims function will be enabled in the coming days. ChainCatcher previously reported that MAX, a Cascade Discord moderator, stated that the Cascade CLS treasury appeared to have been compromised, resulting in an estimated loss of $1.3 million. The platform has since suspended all trading and withdrawals and has engaged SEAL 911 and other third-party security teams to investigate and address the incident.
Cascade Announces Full Recovery of Stolen CLS Funds; Users to Receive 100% Compensation
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Summary
Cascade has confirmed the full recovery of stolen CLS funds, with users set to receive 100% compensation based on the value at 21:08:00 UTC on July 15, 2025. The claims process will open shortly. On-chain data indicates the incident involved a $1.3 million loss from the CLS vault, triggering a freeze on trading and withdrawals. Security teams, including SEAL 911, are assisting in the resolution. Altcoins to monitor may include CLS as the platform works to rebuild user trust.
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