Cosmos Ecosystem in Crisis: Mars Protocol to Shut Down in March After $7 Million Exploit on Saga L1 Blockchain
ByAinvest
Thursday, Jan 22, 2026 4:09 am ET1min read
SAGA--
ATOM--
A smart contract exploit on Saga's SagaEVM chain resulted in nearly $7 million in losses, prompting the team to halt operations and triggering a sharp sell-off of its native assets. Saga Dollar briefly lost its $1 peg and its total value locked plunged over 55% within 24 hours. The incident echoes broader turmoil in the Cosmos ecosystem, where Mars Protocol announced a complete wind-down following a previous exploit.
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