Payy Network suspended all services after an attacker exploited a vulnerability in its Ethereum rollup contract, stealing about $1.83 million in USDC. The attacker used a malicious verifyRollup transaction to extract funds that should have been locked, then laundered the stolen USDC through the Railgun privacy protocol, converting it to ETH. This follows a previous security issue in June 2026 that was patched before any loss. Payy has not announced when services will resume or if users will be compensated, raising concerns about the safety of rollup bridges and the surrounding infrastructure despite strong cryptographic protections.
The Payy Network's recent operational halt following a $1.92M USDC exploit provides context for cryptocurrency market activity. For readers following crypto assets, here is Pluang's market snapshot as of Sep 24, 2026 23:22 WIB: out of 50 major cryptocurrencies, 43 rose and 6 fell. Among notable movers, COMP (Compound) rose 9.31% to Rp427.479 with a typical hold time of 97 days, CAKE (PancakeSwap) increased 8.99% to Rp49.621 with a 75-day hold, and EOS (EOS.IO) gained 8.13% to Rp12.649 with an 87-day hold.