Wu Says learned that MAX, a Cascade Discord administrator, said in the channel that the Cascade CLS vault suffered a security vulnerability, resulting in the loss of about $1.3 million in user funds. The platform has paused all trading and withdrawals, and invited SEAL 911 and other third-party security teams to step in to investigate and handle the incident. Cascade is a 24/7 multi-asset perpetual contract platform headquartered in New York and targeting the U.S. market. It supports deposits via Arbitrum USDC or bank account, and is still in an invitation-only private testing phase.