Payy Initiates bridge contract attack claims; wallet to shut down after the claims window ends
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AT A GLANCE
Payy states that it has launched 30 days of claims for affected users, after which the wallet will be shut down.
Article
Payy Initiated a compensation claims process after a bridge contract attack, after which the wallet will be shut down
PANews October 13 news,Payy official X account disclosed that, for September 24 users affected by the attack,Payy has initiated a compensation claims process, with a claims window of 30 days. The project's bridge contract on Ethereum was September 24 UTC 4: 21 attacked, and its balance was completely drained. Subsequently, all Payy Network transactions, including deposits and withdrawals, were suspended. Valid claims will be paid in USDC on Ethereum;Payy Wallet is currently suspended and will be completely shut down when the claims window ends. The claims form requires users to provide their Payy Wallet mnemonic phrase—the project states that, due to limitations of its privacy architecture, it cannot verify users' wallet balances without this mnemonic phrase.
Payy official X account disclosed that, for September 24 users affected by the attack,Payy has initiated a compensation claims process, with a claims window of 30 days.
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Payy bridge contract on Ethereum was September 24 UTC 4: 21 attacked, and its balance was completely drained.
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Subsequently, all Payy Network transactions, including deposits and withdrawals, were suspended.
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Valid claims will be paid in USDC on Ethereum.
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Payy Wallet is currently suspended and will be completely shut down when the claims window ends.
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The claims form requires users to provide their Payy Wallet mnemonic phrase; the project states that it cannot verify users' wallet balances without this mnemonic phrase.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Payy states that, after the bridge contract was attacked, affected users can submit claims within 30 days. Claims will be paid in USDC on Ethereum, but wallet services will stop when the claims period ends.
Why it matters to readers
Affected users need to pay attention to the claims deadline, submission requirements, and wallet shutdown arrangements. The materials indicate that users must provide their mnemonic phrase for balance verification.
A bridge contract connects assets across different blockchains; after an attack, related transactions may be suspended, and users may need to claim their assets according to the prescribed process.
Risks and unknowns
The materials do not state the amount of the stolen balance or the actual compensation progress.
The materials do not provide Payy official X post or independent on-chain verification.
Entering the mnemonic phrase may pose an account security risk; the materials do not specify the protective measures in place.
The materials do not specify the exact deadline for the claims window.
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Related concepts
bridge contract
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