SagaEVM Attack Leads to $7 Million in Crypto Theft

The SagaEVM chain experienced a major security breach on January 21, 2026, resulting in the theft of approximately $7 million in cryptocurrencies, prompting a temporary suspension of operations.

This incident highlights ongoing vulnerabilities within blockchain ecosystems, raising concerns over security protocols in decentralized finance as SagaEVM collaborates with exchanges to mitigate further damage.

$7 Million Crypto Theft Hits SagaEVM Chain

SagaEVM suffered an attack involving the transfer of $7 million in USDC, yUSD, tBTC, and ETH, now converted and transferred to ETH at address 0x2044…6ecb. The event prompted the suspension of SagaEVM at block height 6,593,800.

The official team is working with platforms to block the compromised address, reflecting the immediate aftermath and urgency. Only SagaEVM was halted, leaving other chains and the Saga SSC mainnet unaffected.

Market Witnesses Fallout Post-SagaEVM Breach

Did you know? Similar blockchain attacks in the past have led to heightened security measures and cross-chain collaborations to prevent such breaches.

USDC, a stablecoin with a current price of $1.00, features a market cap of $74.39 billion, representing a 2.45% market dominance. As of January 22, 2026, its trading volume has dropped by 11.17% to $18.05 billion according to CoinMarketCap.

Insiders from Coincu research note the difficulty in recovering assets post-breach. Past trends reveal that, given the scale, the impact may drive regulatory discussions and bolster technological defenses.