Digital Asset
Intelligence
BTC/USD—
ETH/USD—
SOL/USD—
S&P 500—
GOLD—
DXY—
Security Incident · Arbitrum Ecosystem

Cascade Price Manipulation: $1.34M Reported Loss

·Historical incident record

Cascade, a perpetual contract platform backed by institutions including Polychain, was attacked on Arbitrum through its pre-launch locked CLS vault (First Wave invite-only deposits).

Reported loss
$ 1,343,921
Attack category
Price Manipulation

Incident Overview

The attacker accumulated long positions in a low-liquidity market to hedge against CLS short positions, artificially manipulated the mark price upward, triggering large-scale liquidations of CLS short positions. After profiting from the attack, the attacker immediately withdrew approximately $1.34 million USDC. The project team paused trading and withdrawals, and the funds were largely recovered afterward, with full compensation arranged for affected users.

Sources & References

This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.