Cascade announces progress on CLS events: funds have been recovered, and users can receive a 100% full refund

Cascade announced on the X platform that the incident involving the withdrawal of CLS funds has been resolved, and the parties involved have cooperated to return all stolen funds.

All users holding funds in CLS will be able to receive a 100% full compensation based on the value as of July 15, 2025, 21:08:00 UTC. The claims function will be opened in the coming days.

ChainCatcher previously reported that MAX, the administrator of the multi-asset perpetual contract platform Cascade Discord, stated in the channel that the Cascade CLS treasury allegedly encountered a security vulnerability, resulting in a loss of approximately $1.3 million. The platform has currently suspended all trading and withdrawals and has invited SEAL 911 and other third-party security teams to investigate and handle the situation.