Payy Network officially confirms it was hacked, with its cross-chain contract on Ethereum under attack.
2026.09.24 23:47:01
Payy Network, a privacy-focused stablecoin payment network, officially confirmed that its cross-chain contract on Ethereum was hacked, leading to the theft of all its balances. The investigation is ongoing, and all transactions on Payy Network—including deposits, withdrawals, and transfers—have been suspended. Payy has notified law enforcement and is collaborating with multiple incident response organizations. Earlier today, Specter Investigation detected that Payy Network was suspected of being attacked, with approximately 1.8 million USDC transferred out. The attacker obtained initial funds via the privacy protocol Railgun before converting the stolen USDC into ETH and dispersing the funds to three addresses.
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