EVM refers to Saga's Ethereum Virtual Machine–compatible blockchain platform.
Overview
EVM refers to Saga's Ethereum Virtual Machine–compatible blockchain platform. It provides an Ethereum-style execution environment for smart contracts on Saga’s chain, enabling Solidity-based applications with Ethereum-like behavior. The recent hack and halt highlight the cybersecurity risks inherent to EVM-based networks, where large-scale fund losses and service disruption can occur, underscoring the need for robust incident response and secure contract deployment.
Related Threat Clusters
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Bybit Suffers $1.46 Billion Loss in North Korean Hacking Incident
On February 21, 2025, Bybit experienced a significant security breach involving a routine transfer from an Ethereum cold wallet to a warm wallet. The attack, attributed to North Korea's Lazarus Group, exploited the user…
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AscendEX Faces Liquidity Crisis Amid Withdrawal Delays
AscendEX, a centralized cryptocurrency exchange, is experiencing significant withdrawal delays, with users reporting unprocessed requests for several days to weeks. On-chain investigator ZachXBT raised concerns about…
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Saga Halts EVM Blockchain After $7 Million Exploit
Saga has suspended its SagaEVM blockchain operations following a hacking incident that resulted in losses of nearly $7 million. The breach was isolated to a chainlet, and the company is currently investigating the…
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Recent Intelligence Reports
- June preprint — arxiv.org · August 10, 2026
- ZachXBT: The cryptocurrency exchange AscendEX is suspected of long — Chaincatcher · July 2, 2026
- Saga Halts EVM Blockchain After $7 Million Hack — Binance · January 21, 2026