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Chainflip Network Paused After $736K Tron USDT Exploit

Chainflip Network Paused After $736K Tron USDT Exploit

First seen 13 Sep 2026, 15:56 UTC • •
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ThreatCluster AI
ThreatCluster •September 13, 2026 at 15:57 UTC
  • •Chainflip paused operations after a $736K exploit on its Tron USDT route.
  • •The attacker exploited a flaw by attaching a memo to a signed transaction, leading to unauthorized payouts.
  • •Compensation plans for affected users are under review, with a network restart expected soon.

Chainflip, a decentralized cross-chain swap protocol, halted its network after an attacker exploited its Tron settlement path, draining 736,442.17 USDT on September 12, 2026. The exploit involved attaching a fraudulent memo to a signed transaction, causing the protocol to issue duplicate refunds. Affected users will be compensated, but the method of compensation is still under review. A pending user swap of 115,654.41 USDT is recoverable after a secure restart. The network is expected to remain paused until at least September 14, 2026, as engineers work on a fix. This incident marks Chainflip's first significant security event resulting in a loss of funds. The team is also reviewing previous security incidents from August 2026.

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Timeline

2026-09-12
Attack on Chainflip's Tron USDT route
An attacker drained 736,442.17 USDT through duplicate refunds caused by a memo exploit.
Cryptotimes
2026-09-13
Chainflip halts network operations
The network was paused to address the exploit and ensure user funds are secured.
Chainflip.io
2026-09-13
Public disclosure of the exploit
Chainflip disclosed the exploit details and committed to making impacted users whole.
Cryptotimes

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