Stablecoin Cashio collapsed by 99% after the hack
A hacker exploited a vulnerability in the protocol and withdrew $28 million worth of assets
23.03.2022 - 15:00
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What’s new? Cashio protocol has been hacked. This was reported by the project team on Twitter. Using a vulnerability that allows the issuance of an infinite number of stablecoins, the attacker mined 2 billion CASH tokens and then exchanged them for other assets through the decentralized exchange Saber. The hacker withdrew assets worth $28 million, according to Defi Llama. As a result of the hack, the value of CASH plummeted from $1 to $0,00005813.
What is Cashio? It is a DeFi protocol on the Solana blockchain that allows customers to issue CASH stablecoins. The deposits in the application are secured by interest-bearing tokens of the liquidity provider.
What preceded it? On March 22, the founder of the cryptocurrency investment firm DeFiance Capital lost around $1,6 million in NFTs and digital assets in a hacking attack on one of his hot wallets. On the same day, OneRing Finance, a multichain protocol, was hacked, resulting in a loss of about $2 million.
Useful material?
Telegram 
Twitter Incidents
In a single week, hackers went after PHP websites, the Railway cloud platform and a medical company, and experts started talking about a crisis that is only just beginning.
Oct 28, 2026
Incidents
In 104 minutes, the attacker emptied 1,404 addresses before validators halted the network and froze almost all of the loot.
Oct 19, 2026
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Developers warned of potential risks to bridges across the ecosystem and asked exchanges for assistance.
Jun 22, 2026
Incidents
The defendant helped move funds stolen through investment scams and earned at least $4 million for his role in the operation.
Jun 10, 2026
Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
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