On Jan. 21 Saga paused its SagaEVM chainlet after a confirmed smart‑contract exploit allowed attackers to bridge nearly $7 million (USDC, yUSD, ETH, tBTC) out and convert proceeds to Ethereum. The incident affected only the SagaEVM chainlet and the Colt and Mustang environments; SSC mainnet, protocol consensus, validators, and signer keys were not compromised. Saga is coordinating with exchanges and bridge operators to blacklist addresses, has restricted related cross‑chain activity, added safeguards, is performing forensic analysis, and will publish a full technical post‑mortem after remediation and validation.

A confirmed smart‑contract exploit enabled attackers to bridge nearly $7M in multiple assets to Ethereum and forced Saga to pause the SagaEVM chainlet; Saga is restricting cross‑chain activity and coordinating with exchanges/bridges to blacklist addresses while conducting forensic analysis and preparing a post‑mortem. These are concrete, near‑term operational and loss events that negatively affect the chainlet.