Payy Initiates Claims Process for Cross-Chain Bridge Contract Exploit

October 13th, according to official sources, privacy stablecoin payment network Payy has initiated the claims process for affected users following the cross-chain bridge contract theft incident on September 24th, with a 30-day claim application window. Compliant claims will be compensated in USDC on the Ethereum network. Meanwhile, Payy Wallet is currently in a suspended state and will be completely shut down after the claims window ends.

Previously, on September 24th, Payy's cross-chain bridge contract on Ethereum was attacked, and all funds within the contract were emptied, resulting in a loss of approximately $1.8 million.